Identifying stocks to invest in can be quite difficult for some people. There are so many companies listed on the Nasdaq and New York Stock Exchange. The intent of this article is to help you approach investing simplistically and not overcomplicate investing.
One way to approach investing simplistically is to invest in publicly traded companies that you are a consumer of. What do you buy on a daily basis? What do you buy on a weekly basis? What do you buy on a monthly basis? These questions can help you identify where your money is going and potentially help you determine what to invest in.
Now, all of us are consumers. We all consume products and services. However, you can not build wealth by simply being a consumer. Embrace an ownership mentality by owning the companies that you are a consumer of. This will give you a feeling of satisfaction knowing you have stake in the companies which you are also a consumer.
In conclusion, identifying stocks to invest in should not be a difficult task. Keep it simple by investing in what you know and consume. Further, look for quality businesses, businesses that provide essential products and services that people will always need, and financially sound businesses. Anyone can build and maintain wealth if they truly want to. Good luck in your wealth building journey!