You've got to take the road you need to take, and only you can make that calculation. Not your dad, not your friend. You have to take it if you feel it instinctively.
I have probably purchased fifty 'hot tips' in my career, maybe even more. When I put them all together, I know I am a net loser.
You've always got to think about having some fixed income in your portfolio as well as equities.
When I was 14, I did all kinds of different odd jobs. I had a chicken farm, had an ice cream operation in the summertime, worked as a caddy; all things to make money and save money. Save money in order to invest - that was the first step, though I never really accumulated very much because of other demands like bicycles and things like that.
I remember very vividly - I wrote about it in one of my books - my first IRA. I contributed $2,000 every year, and in 21 years, the funds in that IRA account grew to $260,000. Seems like sort of a miracle, but it happened.
I remember, my first bicycle was very much a used bike. I wasn't going to Wal-Mart, buying a flashy 10-speed bike from China. Are you kidding me?
