| There is tons of literature to read on starting an | | | | the internet. Be sure to interview each person to |
| investment club, but with just a few smart tips, it is | | | | make sure they fit the above criteria. |
| possible to get off to a good start without having to | | | | 2. Make sure all members understand that there will |
| spend hours reading. Just like in the game of golf, it is | | | | be loss as well as gain. Often this principle is not |
| hard to break bad stroke and swing habits, so it is | | | | understood, and when there is a slight down turn, |
| always advised to take lessons before stepping onto | | | | some members will want to pull out their money. If |
| a golf course. So too, it is wise to seek some | | | | the expectation is set at the beginning, then |
| guidance before venturing into investing alone. | | | | everyone will be on the same page. If any member |
| Here are 3 tips that will help get a club off to a | | | | of the club is not in agreement with this basic |
| successful start: | | | | principle, it is a good idea to let that member go start |
| 1. Carefully select the members of the club. Look for | | | | their own club. |
| people who have common aspirations as well as | | | | 3. Once the members are in place, set clear financial |
| common sense, and stay away from friends and | | | | goals for the club. Define where investments are to |
| family. Close personal relationships sometimes have | | | | be made, what duties must be performed to manage |
| ups and downs, just like the stock market. A good | | | | the club, who is responsible for those duties, when |
| member will have a good character, a steady job, | | | | meetings are to be conducted, and what the |
| and is trustworthy. Members can be sought out | | | | collective financial goals are. |
| through advertising in the papers, magazines, and on | | | | |