9 answers
Effie
Student
Medan, North Sumatra, Indonesia
4
Questions
Asked
725 views
I have neither knowledge nor experience in investing, although I am very interested in this field. How should I start my investing journey when I haven't even gotten a job?
Are there any specific books or blogs to read and learn from, or any YouTube channels I can take notes from? #investing #investment #teenager
9 answers
Kay Cheong
Sales
1
Answer
Macau
Updated
Kay’s Answer
Hello Effie,
It is very convenient nowadays to access investment information and knowledge. Here are some practical solutions for your reference.
1. Practicing via virtual investment app :
Simple as installing a phone app, you can create your account and test purchasing real life stock and I am sure you will have no problem learning and gaining valuable experience from it. But one thing to bear in mind, the online experience may not reflect the actual risk that you may feel and you need to bear as you invest in real.
2. Management of your asset and job:
Investment means you need to take extra burden and more expense which return is not guaranteed. Therefore, you need to develop a sense of financial planning to manage your work, your saving and expense to ensure a capital for your investment and your backup reserve.
3. Apply for relevant job to gain experience :
As from my personal experience, I was interested in investment and did not have any knowledge. I chose to work in a bank for the first few years after I graduated, and the experience I learnt was significant and life-long. After that I am more confident to plan my investment and how to get my resource and set my targets.
4. Getting insight from others or online
The book "Rich Dad, Poor Dad" by Robert T. Kiyosaki is very inspiring and you may get some idea about wealth planning and management. If you are not much into books and learning online, you may simply connect with your friends or anyone who has investment experience. They always give me a lot of useful advice from their own experience.
Last but not the least, make sure you can be aware of your investment risk and do not exceed your own budget.
All the best in your investment journey!
It is very convenient nowadays to access investment information and knowledge. Here are some practical solutions for your reference.
1. Practicing via virtual investment app :
Simple as installing a phone app, you can create your account and test purchasing real life stock and I am sure you will have no problem learning and gaining valuable experience from it. But one thing to bear in mind, the online experience may not reflect the actual risk that you may feel and you need to bear as you invest in real.
2. Management of your asset and job:
Investment means you need to take extra burden and more expense which return is not guaranteed. Therefore, you need to develop a sense of financial planning to manage your work, your saving and expense to ensure a capital for your investment and your backup reserve.
3. Apply for relevant job to gain experience :
As from my personal experience, I was interested in investment and did not have any knowledge. I chose to work in a bank for the first few years after I graduated, and the experience I learnt was significant and life-long. After that I am more confident to plan my investment and how to get my resource and set my targets.
4. Getting insight from others or online
The book "Rich Dad, Poor Dad" by Robert T. Kiyosaki is very inspiring and you may get some idea about wealth planning and management. If you are not much into books and learning online, you may simply connect with your friends or anyone who has investment experience. They always give me a lot of useful advice from their own experience.
Last but not the least, make sure you can be aware of your investment risk and do not exceed your own budget.
All the best in your investment journey!
Sachin Mathew
Software Engineer
13
Answers
Singapore
Updated
Sachin’s Answer
Hi Effie,
In the investment world, the best time to start- was yesterday. Earlier the better. Compound interest is your best friend.
So, it's great that you are attempting to start while still a student. You can start with small amounts that you're able to save, and gradually increase as you start working.
As a beginner, I would recommend you to start investing right away with a "Recurring Savings Plan" with your local bank - and continue studying about investing. Then, when you feel you are ready, you can use the money you have saved. :)
The most important aspect to be successful in investing knowledge. You can start by studying online courses at websites such as Udemy (https://www.udemy.com/course/investing/) and Coursera. One highly recommended book is called The Intelligent Investor by Benjamin Graham.
You can also practice what you learn in simulated markets. It's called paper trading. You invest using virtual-money to see how well you are able to apply your knowledge.
All the best.
In the investment world, the best time to start- was yesterday. Earlier the better. Compound interest is your best friend.
So, it's great that you are attempting to start while still a student. You can start with small amounts that you're able to save, and gradually increase as you start working.
As a beginner, I would recommend you to start investing right away with a "Recurring Savings Plan" with your local bank - and continue studying about investing. Then, when you feel you are ready, you can use the money you have saved. :)
The most important aspect to be successful in investing knowledge. You can start by studying online courses at websites such as Udemy (https://www.udemy.com/course/investing/) and Coursera. One highly recommended book is called The Intelligent Investor by Benjamin Graham.
You can also practice what you learn in simulated markets. It's called paper trading. You invest using virtual-money to see how well you are able to apply your knowledge.
All the best.
Dear Sachin,
I received great insight from your answer. I have just created my own Coursera and edX account to learn more about investing and it is thanks to you. I might look up the book you mentioned later.
Thank you ^^
Effie
Carter Pichardo
Assurance Associate
9
Answers
Woodcliff Lake, New Jersey
Updated
Carter’s Answer
Hey Effie,
Good question! It sounds like you are already headed towards the right direction just by putting thought in these areas of interest.
Some personal finance/investing books that I always recommend that will help you gain a better understanding on investing include:
- Unshakeable by Tony Robbins
- One Up On Wall Street by Peter Lynch
- The Intelligent Investor by Benjamin Graham
In our day and age, there's so many options to learn from either through Google, YouTube, or Podcasts. For example, you could just search up on Google, "What does the day of an entry-level finance analyst look like". This will help you get an idea of what would be expected of you.
I would also recommend you stay up to date on current events so you can become more knowledgeable on what going on in the markets. You can leverage news sources like "Morning Brew" (this is free) or the "Wall Street Journal" (not free) to help you with that.
The fact that you're already thinking about investing as a teenager gives me strong enough reason to believe that you will become a millionaire one day. Good luck in your journey my friend!
Good question! It sounds like you are already headed towards the right direction just by putting thought in these areas of interest.
Some personal finance/investing books that I always recommend that will help you gain a better understanding on investing include:
- Unshakeable by Tony Robbins
- One Up On Wall Street by Peter Lynch
- The Intelligent Investor by Benjamin Graham
In our day and age, there's so many options to learn from either through Google, YouTube, or Podcasts. For example, you could just search up on Google, "What does the day of an entry-level finance analyst look like". This will help you get an idea of what would be expected of you.
I would also recommend you stay up to date on current events so you can become more knowledgeable on what going on in the markets. You can leverage news sources like "Morning Brew" (this is free) or the "Wall Street Journal" (not free) to help you with that.
The fact that you're already thinking about investing as a teenager gives me strong enough reason to believe that you will become a millionaire one day. Good luck in your journey my friend!
Anne Rossi
Academy Director
8
Answers
Palatine, Illinois
Updated
Anne’s Answer
Are you interested in a career in investing ? If so there are a tone of companies hiring entry level roles that do not required a background in investing. I was a marketing major in college and applied to work as a financial advisor in an entry level role. The company paid for me to get licensed, paid me for study time, and helped me pass my exams.
A background can definitely help, but it’s not needed. I knew nothing about finance or investing, so with out me randomly switching my careers I don’t think I would have understood the need to start saving my money and invest for my future. Even if you aren’t interested in this as a career, the fact that you’re interested is already a great start!
Purchase material to study for and obtain your SIE- Security Industry Essentials exam. It’s less that $100 to take the test and it will make companies very interested in you!
Look at different companies and their available positions and then see if you can find more information about the interview process on sites like Glassdoor
A background can definitely help, but it’s not needed. I knew nothing about finance or investing, so with out me randomly switching my careers I don’t think I would have understood the need to start saving my money and invest for my future. Even if you aren’t interested in this as a career, the fact that you’re interested is already a great start!
Anne recommends the following next steps:
Caren Kao
Business Analyst
5
Answers
Lake Forest, California
Updated
Caren’s Answer
I highly recommend the BiggerPockets Money Podcast. They cover a wide range of topics all dealing with money so you can just listen to the episodes that interest you. I have learned a lot from the podcast and I love hearing from the financial thought leaders they often have as guests.
Anne Rossi
Academy Director
8
Answers
Palatine, Illinois
Updated
Anne’s Answer
Hi Effie,
I was in your boat- no experience in investing, but wanted to apply for a job. I was lucky enough to apply and get a position in an entry level role. My answer depends on your timeframe. If you are looking for a job that requires you to get licensed, there is an exam you can study for and take on your own called the Security Industry Essentials exam.
MANY companies will actually pay you a sign on bonus if you come in already having this license, and it's fairly inexpensive to get the books/materials and sit for an exam.
If you get this exam, I believe you'll have 4 years to complete some of the remaining requirements (that's why this depends on your timeframe).
I can tell you, my company (Bank of America/Merrill Lynch) recruits candidates with little to no experience because we hire into entry level positions, and I'm sure many others do the same
I was in your boat- no experience in investing, but wanted to apply for a job. I was lucky enough to apply and get a position in an entry level role. My answer depends on your timeframe. If you are looking for a job that requires you to get licensed, there is an exam you can study for and take on your own called the Security Industry Essentials exam.
MANY companies will actually pay you a sign on bonus if you come in already having this license, and it's fairly inexpensive to get the books/materials and sit for an exam.
If you get this exam, I believe you'll have 4 years to complete some of the remaining requirements (that's why this depends on your timeframe).
I can tell you, my company (Bank of America/Merrill Lynch) recruits candidates with little to no experience because we hire into entry level positions, and I'm sure many others do the same
Thank you, Anne for the kind answer ^^
Effie
Sagar Subedi
6
Answers
Updated
Sagar’s Answer
Hi Effie,
Before starting to invest you would need to understand how the economy and the companies work. You could start by searching for videos or articles on the web. One channel I would recommend is "Principles by Ray Dalio" - https://www.youtube.com/user/Bridgewater.
In this video - https://www.youtube.com/watch?v=PHe0bXAIuk0&t he explains how an economy works and explains the economic terms very well.
Investopedia.com is another website where you could learn a lot about different financial terms related to investing. I would suggest you go through the "Education" tab where there are lots of resources on investing.
After you understand how the economy and investing works you could learn about stock markets from this website from which I learned a lot - https://zerodha.com/varsity/.
Also, you could learn a lot from the books mentioned in other answers (Books by Benjamin Graham, Peter Lynch). You can start investing small amounts when you start and as you learn you can increase your investments.
All the best on your investing journey!
Before starting to invest you would need to understand how the economy and the companies work. You could start by searching for videos or articles on the web. One channel I would recommend is "Principles by Ray Dalio" - https://www.youtube.com/user/Bridgewater.
In this video - https://www.youtube.com/watch?v=PHe0bXAIuk0&t he explains how an economy works and explains the economic terms very well.
Investopedia.com is another website where you could learn a lot about different financial terms related to investing. I would suggest you go through the "Education" tab where there are lots of resources on investing.
After you understand how the economy and investing works you could learn about stock markets from this website from which I learned a lot - https://zerodha.com/varsity/.
Also, you could learn a lot from the books mentioned in other answers (Books by Benjamin Graham, Peter Lynch). You can start investing small amounts when you start and as you learn you can increase your investments.
All the best on your investing journey!
Savanna (Savi) Bailey
8
Answers
Boston, Massachusetts
Updated
Savanna (Savi)’s Answer
Hi Effie,
While I'm not pursuing investment as a career, I wanted to be more knowledgable about it in my personal life. I found some great free courses through edX. I think there is one available through Harvard or another very prestigous university. There are also some good resources I found at my local library by searching investment for beginners. Every book and resource will start off with the basics and then each of them will start to diverge based on strategy, but it allows you to get a beginning on the verbiage used.
Best of luck!
While I'm not pursuing investment as a career, I wanted to be more knowledgable about it in my personal life. I found some great free courses through edX. I think there is one available through Harvard or another very prestigous university. There are also some good resources I found at my local library by searching investment for beginners. Every book and resource will start off with the basics and then each of them will start to diverge based on strategy, but it allows you to get a beginning on the verbiage used.
Best of luck!
Winson Ho
IT Manager
4
Answers
Boston, Massachusetts
Updated
Winson’s Answer
Here are some good books to read in no particular order Good luck !
Think and Grow Rich -Napoleon Hill
The Richest Man in Babylon -George Clason
Rich Dad Poor Dad - Robert Kiyosaki
David Ramsey's podcasts are also very popular.
Think and Grow Rich -Napoleon Hill
The Richest Man in Babylon -George Clason
Rich Dad Poor Dad - Robert Kiyosaki
David Ramsey's podcasts are also very popular.
Thank you, Winson. This is a very helpful list. I'll make sure to look these books up :)
Effie
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