We women are professionals at the dating game. We know what men like, what they look for, what they find attractive and how to win them over. Start playing the stock market like your latest beau and reap the benefits. After all, these benefits may trump those of the last guy you met at the bar.
Step 1: Give a little, but not everything
When meeting a new guy, you give a little at first. You know — by not being available 24/7, acting like you don’t care when he calls you, making time for yourself and your girlfriends and continuing to flirt with other men. With the stock market, the same rules apply: Don’t give the market your entire life savings. Just like a man, it can burn you. Start off slow by investing a small percentage of your savings in the market. Watch it slowly and if, over time, you like what you see, consider investing more.
Step 2: Don’t put all your eggs in one basket
Now back to men. When you’re single, it’s important to date a variety of different guys to find out who you like most and what kind of relationship works best for you. If you only date men who are tall, dark and handsome, you could be missing out on a great opportunity simply by not widening your horizons. Same goes for the stock market. Invest in a variety of stocks to get a greater return on investment, rather than sticking with stocks of the same type.
Tip: Only invest in stocks with money you can afford to lose. This goes back to giving a little, not everything. Make sure you still have a solid savings account in case of an emergency.
Step 3: Take risks
Most women agree they’ve dated someone who wasn’t necessarily they’re “type,” and he ended up being the love of her life. Sometimes the greatest rewards come from taking risks. The greater the risk, the greater the reward, right? Take a few risks when choosing stocks. Buy a stock you may not normally go for and see what happens.
Step 4: Be assertive
Do your research and know what you’re after. Yes, it’s good to take risks and yes, you should diversify, but it’s also important to know what you want in both men and stocks. Determine what you’re hoping to get out of each. For men, are you looking for a husband or a hook-up? For stocks, are you investing short term or long term? These answers will allow you to set goals so you get what you need out of both.
And finally, remember that practice makes perfect. Dating and investing have a big learning curve. The more you get out there and do it, the better you’ll be.
More on investing
Trading stocks vs. investing in stocks
Start planning for retirement
How to invest your money