Did you know that there are only very few Filipinos investing in the Stock Market? They say that from statistics, only 1% of the total population of the Philippines are stock market investors. But do you know why there are only a few?
The number one reason why Filipinos aren’t aware about it is because of the general IGNORANCE about the said topic. Before I became an investor, I only hear about stocks in the movies like “The Pursuit Of Happyness” but I really don’t pay attention about the details of it.
So in general, what effect does the ignorance of the Stock Market results to? The result is that it gave birth to the 3 most famous stock market myths. When people hear of investing in stocks, these 3 myths are generally the ones that immediately goes into the mind of the general public. So let’s talk about these 3 stock market myths.
MYTH#1: It’s difficult to invest in stocks.
TRUTH: This is not true. The truth is that whether you just work as a maid, a jeepney driver, a janitor, a top executive, a businessman or even a bum, anyone can invest in stocks. Just look at Bro. Bo’s maid in his e-book. Her story is remarkable and inspiring. You don’t even need to be super educated to do this. It’s very easy to learn and with the Internet around, learning to invest is much easier than before.
MYTH#2: You need lots of money to invest in stocks.
TRUTH: Again, this is not true. Most people believe that you need thousands of pesos to start investing. Well, that was before. When online stock trading came into being, the startup costs of investing became lower and now, you can now open stock trading accounts for as low as Php 5,000.00. So even the typical Filipino who can save at least 10% of his or her monthly income can invest.
MYTH#3: Investing in the stock market is like gambling.
TRUTH: In stocks, we need to have at least a basic understanding of its fundamentals and technicalities before we venture into it. If we invest with totally zero knowledge about it, then it becomes more like gambling. It’s also like taking an exam without proper studying. If you do that, what would you think the score you’ll get? But if you study hard, you might even get a perfect score. That’s just same with stocks. If you arm yourself with the proper knowledge and tools, then it becomes less like gambling.
These three myths are very common to those people who aren’t aware of the wealth building potential of the Stock Market. If you think you possess these 3 stock market mindset myths, then today is the best time to change the way you think about it.
As a final piece of advise, be sure to check out this link which shows you how you can change the way you think about the Stock Market with the guidance of Bro. Bo Sanchez.
Happy investing!