Dr Boyce Watkins: When is a good time to sell my stock?
by Dr Boyce Watkins
One of the most frequent questions I am asked in my Stock Market Investing class is "When is a good time to sell my stock?"
This question is one that concerns me for at least a couple of reasons. First, it promotes the mythical idea of the stock market as a get-rich-quick scheme, where shifting stocks around is seen as a magical way to make lots of money very quickly.
Secondly, stocks are meant to be solid long-term holdings in companies that generate revenue over prolonged periods of time. When you own a share of a publicly or privately traded company, a piece of that revenue is yours. So, there is no reason to let go of your ownership of an asset just so you can run off and spend the money.
Warren Buffett, one of the richest men on earth, once said, "If you're not prepared to own a stock for at least 10 years, then you shouldn't own it for 10 minutes."
My point in all of this is to say that the stock market should be seen as a long-term investment, not a quick profit-and-run scenario. By owning a large portfolio of stocks over a long period of time and adding just a little bit every month, you will likely accumulate a substantial amount of black wealth to pass onto your children.
Even if your stocks don't make as much as money as you'd like, investing is still better than spending everything you've got.
If you'd like a 30-day free trial in my stock market investing program, please visit TheBlackStockMarketProgram.com.