By Matt McCallApr 12, 2017
I speak with investors regularly, and I also get asked some variation of this question all of the time. There’s a lot of distrust out there, and I get it, especially after two corrections in the last two years that scared a lot of people out of stocks altogether.
Here’s the truth: We all know that there is some gamesmanship that goes on and that Wall Street builds in some systemic advantages for itself. But the market itself is not rigged, and investing in stocks – and now exchange-traded funds (ETFS) – remains the absolute best way to grow your wealth. Nothing else comes close. If you want to achieve your financial dreams, the first step you need to take is to actually put your money to work making more money.
That said, the old approach to making money on Wall Street is not the way to make that happen. As a general rule, the Old Wall Street looks out for its own interests. Stock brokers are in the sales business. There are good ones and bad ones, but their success is not based on how well your investments do. They get their commission whether your stocks are going up or not. And those commissions are sizable, so there’s a vested interest in keeping things the way they have always been. The results? One big herd that invests in the same stocks with the same unsatisfactory result for way too many clients.
So Old Wall Street may not be rigged, but it also doesn’t work in your best interests. To truly build your wealth, you need a new way of investing. A better way that puts your interests first and is free to find tomorrow’s winners today while Wall Street focuses on yesterday’s winners. It’s the NextGen way to invest, and I look forward to sharing it with you.
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