Making Money Thru Mary Jane
Making Money Thru Mary Jane
I’m a college senior preparing to graduate this coming May with a degree in finance. My dad already helped line up job interviews with several companies thanks to his fraternity connections. It’s safe to assume that I’ll likely land an offer with at least one of them.
Now that I’m well on my way with jump-starting my career, my dad said I should take the initiative and make moves on a nest egg. I do have a savings account with several thousand in total, but I was planning to finance a lease with it once I graduate.
My roommate suggested that I use my tax reimbursement to investment in the cannabis industry, which wasn’t a bad idea. I just wonder how good it will look to have an active investment portfolio related to marijuana.
What should I consider if I wanted to seriously consider investing in it?
The first thing to consider is whether or not you’re investing for the right reasons. Ask yourself some of these questions. Are you investing money because you’re genuinely committed to building future wealth? Are you investing money with the expectation of short-term profit? Are you planning to make investment decisions based on an outsider’s opinion? These answers are critical and you should be confident in them.
You might begin by reading some of . If you don’t know who Warren Buffett is, then you’re already in trouble. One of the key takeaways according to his mentality is to establish an appropriate mindset. That’s why investing for the right reasons is so important. That being said, once you make the decision to actively invest, you’ll want to be smart about it.
There’s really that could more than double your money. The trick is deciding how much risk you’re willing to incur and how long you’re willing to wait. Bonds tend to be safest, but many investors avoid the timeframes and opt for stock trading instead. That sounds like what you’ve already decided on, which means due diligence is key.
When it comes to the marijuana industry, seemingly exponential growth is the only plausible future outcome. Experts are predicting that by . Those figures are likely to be underestimated, too. That will definitely translate into vast profits for privy investors with the right mix of moxie and merit.
Scour the web for the most relevant financial and historical data on the subject. It’s not enough to know about the product or service. You need to grasp the context if you plan to make investment decisions. Make a daily habit of perusing online news feeds to stay updated on medical cannabis trends (e.g., ) and remember that it’s often less risky to invest in ancillary industries. For instance, instead of investing money in dispensaries or distribution networks, you could invest in compliance software that helps businesses obey state and federal regulations. By making those investments, you align yourself with the right side of the law should things come to an abrupt halt due to federal oversight.
This is all to say that the notion of investing in marijuana is definitely appealing to aspiring investors, but it’s a decision not to be taken lightly because of how much time and effort is involved. There are plenty of other responsible ways to establish a nest egg without having to incur those costs.
“The price of greatness is responsibility.” -- Winston Churchill