Investing is a way to grow your money over time, and secure your financial future. When you invest without a clear plan, you're more likely to make decisions based on emotions, rather than logic. You may be tempted to buy a stock because it's the latest hot trend or sell a stock because you're afraid of losing money. However, when you invest with a purpose, you have a plan in place that guides your investment decisions. And thus, you're less likely to make impulsive decisions that can lead to unnecessary financial losses.
Investing with a purpose means having a clear understanding of your financial goals and investing accordingly. And it requires taking the time to evaluate your financial situation, your willingness, and capacity to take financial risk, and your overall objectives for the capital you plan to put to work. It is not about chasing the latest investment fad or trying to beat the market in the short term. Instead, it's about creating a plan and investing in a way that maximizes your chances of success.
In this episode, Malcolm Ethridge sits down with Jessica Inskip, Director of Education and Product for OptionsPlay, to discuss the importance of investing with purpose, as well as the need to have a firm grasp of the basics prior to jumping into the more complex world of options trading. Jessica shares her unique insight into the different strategies investors can take to limit their risk when investing, as well as how to know when it’s time to introduce more complex strategies into your investment mix.
Jessica Inskip Discusses:
- How to know whether you’re ready to trade options
- How to use options to reduce the risk inherent in a portfolio
- The various ways to incorporate options strategies into a portfolio
- The risks of following finfluencers
Connect with Jessica:
Connect with Malcolm:
@MalcolmOnMoney
About our Guest:
Jessica joined the financial industry in 2009 and most recently accepted a position with OptionsPlay. She has held various positions within the brokerage industry across multiple firms, including roles specializing in strategy, product management, high frequency trading, complex options and derivative strategies, and the relationship management of high-net-worth affluent investors.
Mentioned in this episode:
Capital Area Tax Consultants - www.capgllc.com
Capital Area Tax Consultants - www.capgllc.com
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