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  1. #1
    Join Date
    Nov 2016
    Location
    Orange County
    Posts
    16

    Finances: What eggs to put in your baskets?

    Hi everyone! i have just begun to learn about financial literacy and everything that comes hand to hand with it. A question popped up into my mind when read a part of a book about "putting alot of your eggs in a few baskets". My question is what are the eggs??? does it mean "Stocks", "Royals" "Bonds" etc....????? If anyone can put a few min. to help me out that will be great please!! I believe this is one the first steps of how people become millionaires and billionaires!!

  2. #2
    Join Date
    May 2017
    Location
    Palm Springs
    Posts
    2
    The phrase "putting all of your eggs in one basket" refers to putting all of your effort, interest, time, resources into only one project, investment, company, etc. This does not mean by any means that you should not know what you are doing when it comes to your eggs; if you want to use stocks as one of your eggs because you are interested in stocks, go for it, but do your research and know how stocks work (particularly the ones that you intend on playing with).

    The idea behind not putting all of your eggs into one basket is so that if the one basket that you have been spending all of your time, money and effort on fails to produce the outcome that you were expecting, you are not completely out of luck because that is the only endeavor that you have been working on in the past year (or however long). By spending SOME time/resources on investing in stocks, and then SOME time/resources on a side business like creating an app, and SOME time/resources investing in real estate, you have more than one single fountain from which to collect from.

    I hope this helps to answer your question, if anyone else would like to elaborate more (or probably less, to simplify things) please do!

  3. #3
    Join Date
    Nov 2016
    Location
    Orange County
    Posts
    16
    Yes! this makes sense and really helps what paths i need to take in order to make the best of my interests, time etc... Thank you so much, this really put a light on many stuff that ive had difficulty with.

    All the help would be greatly appreciated!

  4. #4
    Join Date
    Jan 2015
    Location
    United States
    Posts
    60
    Diversify so if something fails, you still have something.

  5. #5
    Join Date
    Nov 2016
    Location
    Orange County
    Posts
    16
    Love it! This makes a whole bunch of sense now. Thanks so much!

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