I am a happily married father of two. I have been blessed with a modestly successful career, comfortable home, and caring family and friends.
I dabbled in the stock market once early in my career, nervously profiting $35 before pulling my money out. I wasn't ready.
For the past 13 years, I have kept my "serious" investing to mutual funds. I have "played" the stock market many times on paper (no real money) and found that if I do my homework, I seem to be able to do well. I have purchased stock and stock options from my employers, but have not done any active trading.
My wife and I have a long-term dream of purchasing a beach house. Not just a hut 10 blocks from the beach, but rather a large, beachfront house that sleeps a ton of people! At this point, my current earning trend and saving strategies will not likely be enough to allow us to realize that dream.
So I had an idea to start "playing" with real money. Not much. I'm starting with $1,000 and see how I can make it grow. Along the way, I may increase my investment amount, or not. I have no intention of replenishing my losses.
I have settled in on a timeframe, though I will consider year one as my probationary period. Long-term, I'll continue until I lose it all, or until I reach my goal.
So, over the next 10-15 years, can I really turn $1K into say $1M, $2M or $4M? I am fully aware of the fact that 99.9% of you will tell me no. Many people will laugh at me and think I am crazy. I know the odds and have a solid handle on reality. But I have always believed the following...
1) If you believe that you can achieve your goals, then there is a better than 50% chance that you will;
2) If you believe that you cannot achieve your goals, then there is nearly a 100% chance that you won't.
So, I have no choice but to believe that I can. Wish me luck. Better yet, please help me!