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Ask Geri: Should I Join Truly Rich Club or Open an Online Trading Account?(2-min read)

… [Found] your blog while searching for Bo Sanchez’ Truly Rich Club. I’m glad I met someone who have interest in achieving financial freedom and helping other people as well. You see I’m a nurse …. I [was able to save] P5,000 and [I plan] to invest it in stocks via Citiseconline and to subscribe to Truly Rich Club. I want to ask your professional opinion if it would be a good idea? And how Truly Rich Club has helped you?” 

– Investor Nurse

Hi Investor Nurse,

 
Caveat first, this is a friendly advice and not necessarily a professional one. Haha! I see my self in you. I also started with my extra Php5k in stocks. But now I know better. I suggest you ask yourself first, are you ready to risk your Php5k savings? Have you considered other less risky investment options? Have you built your emergency fund and secured your life and loved ones with financial protection?
 
You might find this post helpful to get you started: Where to Invest for Newbies?
 
Now, if you’re really bent on investing in stocks, Truly Rich Club will help you choose which stocks to invest in regularly as they send stocks tips and instructions at the very least monthly. Their approach is fundamental, so it’s easy to understand why they expect a company’s share prices will go up in the long run or why the market is moving as such. Investment horizon is long, as Bo usually tells us that we intend to keep the stocks for 20 years or so granted that there are no adverse trends and news for the company. So short-term fluctuations and market swings are not to be feared. They also encourage regular monthly investments (they call it strategic averaging method (SAM)) as long as buy below prices have not been reached.
 
Plus among other benefits that TRC has to offer like Bo’s Daily God Whispers, 8 Secrets of the Truly Rich, and many more downloadable books and audio recordings for our spiritual and financial wellness. TRC also has an affiliate arm which you might want to consider for extra passive income. Subscription with TRC though will entail costs which might lessen your investable funds.
 
Meanwhile, you can also focus your resources on opening an online trading account first. The online platform you mentioned in your query offers free fundamental and technical seminars for members. Also, they provide regular stocks analysis to guide you.
 
Bottomline is study study study. All of us are mere students of the unfathomable ways of the market. As they say, all we can do is ride the tide. Other options you might want to consider are opening a PSE Trading Game account (to simulate your skills without losing actual money) and read up in stocks forums, such as Finance Manila.
 
Goodluck and hope to hear from you.
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