Learn the bare minimum to understand the different possibilities you have to invest. This means Educating yourself by reading a book or reading various financial blogs.
Secure 6 months first.
The future is always uncertain, but having the next six months taken care of is highly reassuring. Being prepared for any short-term hiccups, in our careers and lives, is pretty important.
Start with the familiar.
An easy way to get into the stock market is by buying things that you’re familiar with and know. If you drink a beloved green tea latte every day, buy Starbucks shares. “If you want to get your feet wet and try it out, buying Apple shares because you own the iPhone, the iPad, the iThis and iThat is a great strategy,” Mr. Small says. “But you have to separate that from more serious investing. If you are someone who is in their early 30s, you’re looking to perhaps buy a house…You want to invest more for the long-term where you’re investing with a certain goal in mind.”
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Learn Where to Invest Your Money
George Papadopoulos — a certified public accountant, certified financial planner and fee-only wealth manager in Michigan — offered this advice on where beginners should invest:
“For beginner investors who are most likely investing in just one account — usually the 401k plan at work — and not willing to spend time managing and rebalancing, they should just pick a target-date fund and ‘set it and forget it.’ Further, new investors should focus on expanding their marketable skills and aim to contribute more — ideally, to the point to capture the full matching — to their workplace retirement account.”
Diversify.
Mutual funds and exchange-traded funds tend to be good products for young individuals who don’t have enough assets to create their own diversified portfolio. “The best way to describe mutual funds is it’s a basket of investments. Everybody puts any amount of money they want into this basket.
They try to deviate you elsewhere, bankers want to squeeze fees from you. So, stick to your decision. That means if you want small cap equities, you will invest in small cap equities and nothing else that they recommend (always look for names like shares, vanguard, S&P. This way you avoid branded ETF's or investment funds.
Don’t Use the TV as Your Investment Guide
So many investors believe that in order to prevail, they must monitor all of the financial market news and heed the advice of business television commentators. Seek for proper financial advisory.
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