Investment Strategies For The Holidays | Interview With The Megacast

I recently met with Tyler of The Megacast to discuss holiday investment strategies. 

A lot of people are feeling pressure on their pocketbooks during holiday shopping time. Not only are we buying gifts, but we may need to do some travel during this time to see family and friends. 

What can you do to lessen the burden during expensive times? Let's find out.

When you think about going into the holiday season, there's a lot of stress. Good news is that you can make the market an ATM to pull out money for those purchases IF you know how. But if you haven't been studying or using this technique, it may be hard to pull off in the next few weeks. 

So we can start looking at how to prepare for the holiday season in advance.

What are some strategies we can do now?

Don't be afraid to take a profit on your wins. Some people think the taxes on their profits aren't going to be worth it. Any kind of stock under one year, you'll earn short-term capital gains. Over a year, it's considered long-term capital gains. These profits are essentially added to your yearly income amount to pay taxes on. 

If you are over 59 and a half, you can withdraw out of a retirement fund without paying a penalty on it. 

Or, you can selling options against the stock you own. If you own 100 shares of a stock, you can sell an option against them and bring in a few hundred dollars in what I like to call "rental income". 

The safest bet is on you. You need to get education in the market. A lot of people think it is risky, but everything is risky if you don't know what you're doing. 

Bet on yourself. Think of the gifts you want to give this season... what are you giving yourself? Consider the gift of education. 

Knowing how the strategies work is the best way to lower the risk.

From there, how can you apply these strategies for the next year? 

When inflation is high, it creates volatility in the market. 

When the market sells off quick or rebounds quickly, you can get in and get out right away and make a profit. You need to know what you are doing and what to look for in order for this to be successful.

If you don't know what you're doing, you can also lose money really quick. 

You don't want to be gambling in the market. Get curious enough to do research and learn how it works. Practice trading through a trading simulator (called paper trading) until you're sure what you're doing is working. 

Ready to invest in yourself?

Check out our memberships at Power Trades University and gift yourself education for a better holiday season next year.