“A bird in the hand is worth two in the bush”
It is better to accept or be content with what one has than to try to get more and risk losing everything. The thing that you already have is a bird in the hand; the things you want but don't have are two (birds) in the bush. You should not risk losing what you have by trying to get something that you don't have. This phrase is very important in the world of creating and preserving wealth and it is a rule that I use often by booking profits in many types of investments. Sometimes we may miss more profits by taking the “bird in the hand” so if the investment still looks promising I will generally take part of my profits and leave the rest invested in case the “two in the bush” decide to make their way towards my hand.
In November I covered gold as an investment opportunity and a few ways we could easily invest in gold. At the time gold was down from its high and below $800 per ounce; it was a great buying opportunity that many people took advantage of. Since then gold has spiked more than 12.5% and shows no sign of slowing down on its march toward $1000. There were many forces acting upon the price of gold that suggested that we would see a spike in price. Many of these forces are still in place, but, as our Monday Mantra says we may need to book some, but not all, profits in gold while we still have them.
It is better to accept or be content with what one has than to try to get more and risk losing everything. The thing that you already have is a bird in the hand; the things you want but don't have are two (birds) in the bush. You should not risk losing what you have by trying to get something that you don't have. This phrase is very important in the world of creating and preserving wealth and it is a rule that I use often by booking profits in many types of investments. Sometimes we may miss more profits by taking the “bird in the hand” so if the investment still looks promising I will generally take part of my profits and leave the rest invested in case the “two in the bush” decide to make their way towards my hand.
In November I covered gold as an investment opportunity and a few ways we could easily invest in gold. At the time gold was down from its high and below $800 per ounce; it was a great buying opportunity that many people took advantage of. Since then gold has spiked more than 12.5% and shows no sign of slowing down on its march toward $1000. There were many forces acting upon the price of gold that suggested that we would see a spike in price. Many of these forces are still in place, but, as our Monday Mantra says we may need to book some, but not all, profits in gold while we still have them.
Easy Money Management’s editorial goal is to provide a forum for personal finance and investment ideas. My blogs and other features should not be construed as investment advice. An investor's best course of action must be based on individual circumstances.
1 comment:
How about investing in real estate? Our company has an Chicago Real Estate seminar coming up on this Sat!
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