Useful sites

I just wanted to post up some useful financial sites I use for research or just general knowledge.

MSN Money - http://moneycentral.msn.com/home.asp
Yahoo Finance - http://finance.yahoo.com/
Investopedia - http://www.investopedia.com/
Phil Town - http://www.philtown.typepad.com/
Rich Dad Poor Dad - http://www.richdad.com/default.aspx
Robert G. Allen - http://www.robertgallen.com/
One Minute Millionaire - http://www.oneminutemillionaire.com/

These sites offer a lot of good information that you might find useful.

Micro Penny Stocks

So I got a new idea for my 2 year old. The idea is for him to invest long term in the micro penny stocks that I trade. My thinking behind this is that if he owns say 20 companies with about $50.00 in each he would own between 1,600 and 250,000 shares of each (range of $0.0002 to $0.03).

Say if 16 of them failed completely, 4 of them would not. Say out of those 4, 1 made it to $1.00 per share, bam that is $1,600 to $250,000, then say if the other 3 made it to say $0.50 that would be another $2,400 to $375,000!

For a total of between $4,000 and $625,000! With a total input of only $1,000. But we are talking about this amount of money coming from only $200 because the other 16 companies failed for a loss of $800.

Now that is what I call return on capital! Then again this might work for him because he has 16 years to invest before he is even an adult.

Can you imagine the possibilities if he was into 60 companies instead of 20? Wow, now there is great opportunity!

Here are some of the stocks I am looking at for him to do some long term investing.

Assuming he has $50.00 in each here is how it would break down:

Franklin Mining - FMNJ ($0.0002) 250,000 shares.
Pacific Gold Corp - PCFG ($0.0029) 17,241 shares.
Green Star Energies - GSRE ($0.0013) 38,461 shares.
ParaFin Corp - PFND ($0.002) 25,000 shares.
Genova Biotherapeutics - GVBP ($0.005) 10,000 shares.
MultiCell Technologies - MCET ($0.0045) 11,111 shares.
Axia Group - AGIJ ($0.03) 1,666 shares.
Frontier Energy - FRGY ($0.0003) 166,666 shares.
International Building Technologies - INBG ($0.0002) 250,000 shares.

Now that is a start, so I will track this virtual portfolio and see how he does. (The actual stocks I invest in for him may vary)

Mastermind Group

Mastermind Group

Forming a Mastermind Group is essential for building wealth and bouncing ideas off of like minded people. It becomes a place to brain storm ideas and formulate plans.

Start by finding at least one other person with like goals and mindset as yourself.

Ensure these people are positive and have open minds to new ideas. Try to meet at least once a week. Over time you will become close, and will be able to network though each other and will find many more doors opening for yourselves.

Start off introducing yourselves then formulate a list of goals that each of you wish to attain, list your strong points and your weaknesses. You will find that as a group you will be able to cover more area due to a diverse list of strong points and will be able to work on your week points. You may even be able to formulate a business out of this group that will make you all very wealthy.

Talk with the group about your ideas and what you are doing so far. Train each other in the various areas that each of you excel in.

Forming a group like this will really help you in your quest to build wealth.