Entrepreneurship and investing are great ways to achieve financial freedom. The most important thing is to work hard and have a growth mindset. If you have a hunger to learn, grow and become a better person each day you will succeed. One of the challenging things about investing is the constant flow of new information. You have to have a process for managing your information and risk. Hedgeye is an amazing tool that Hedge fund managers use to manage risk. https://app.hedgeye.com/
The other challenging thing is having capital to invest in the first place. It takes money to make money. You need to be able to save your hard earned capital. Easier said than done. There are budgeting apps like Mint that can help you with that. https://www.mint.com/ One way to make lots of capital quickly is to go into sales related jobs that pay out high commissions. You can use those commissions to re-invest and trade.
Listen to podcasts like TIP (The investors Podcast) with Preston Pysh and Stig Broderson. The more you learn from the best, the easier it is to become the best. https://www.theinvestorspodcast.com/
Investing and trading is a life long process and learning experience. Becoming a great investor is more about self control. Most people trade on emotion. Understanding yourself is a key part of this process.
Good luck on your journey and BELIEVE IN YOURSELF! You are the hero of your own story.
Before investing, it's important to know your risk tolerance. The market can be volatile - especially with individual stocks - so know what is best for you. ETFs or index funds may be better for someone who has difficulty stomaching volatility. Focus on what you know best when investing as that tends to result in better outcomes. For example, if you know technology well, it may result in better outcomes. I find having a long-term investing mindset allows me to not dwell on volatility while remaining invested. Focus on the business, not the stock/equity. When getting started, leveraging the website www.fool.com is helpful from both a mindset perspective and how to get started.
Matthew has made some very good points. Heed his advice. Especially this:
"Investing and trading is a life long process and learning experience. Becoming a great investor is more about self control. Most people trade on emotion. Understanding yourself is a key part of this process"
I would add that it is important to put together a plan. Here are some questions I would ask (in no particular order):
What are your current interests now?
What are you doing to help you reach your goal?
There are many different financial careers and investing. For example, do you want to be an investment banker? Do you want to trade stocks and bonds? What resources are available to you to learn?
Are you interested in going to college? If so, what would you like to major in?
Do you posses an analytical mind?
Have you considered getting your MBA in Finance? I'm not so sure that it is necessary for the daily job functions but will certainly help you in the job application process.
Do you like to read? There are many books/websites that have information on how to trade.
Are you interested in technical analysis (chart reading) or fundamental analysis (determining a stock's intrinsic value)?
Do you have a mentor? Someone who can teach you his or her investing strategy/approach?
I believe ‘stocks’ in term of investing on the stock market.
It is really easy to start but difficult to perform in reality.
First, you need some savings (make sure you start with really small lump sum which you can afford to set aside for as little as 3-5 years). Then you should open a brokerage account in some of the trustworthy brokers like Interactive Brokers, E*Trade, TD Ameritrade.
Then, you should build your own philosophy/strategy. You would need to read a few books. You can start with everything related to Warren Buffett, but I would advise you to check this one, too:
It is great summary of a sound investment philosophy.
Lastly and most difficult – you need patience and basically do nothing. Once you find the great companies you are sure will expand their business results in next 3-5 years, just sit and wait for the business to grow earnings.
These three gentlemen clearly are passionate about investing and likely work in a career around investing and finance. While investing can be a lot of fun, I started similar to you with a passion for investments. However, after twenty years of experience, I would suggest considering starting with a degree in psychology or marketing. As the other guy's said, investing is about dealing with emotion and using your investing skills over a long period of time.
If you can learn how people think and how people hear your message, you will be far more successful as an investor than just focusing on the investing aspects. More importantly, having those two tools will accelerate anything you do in your life. Working in finance and earning money by providing investment advice is more about understanding people and gaining trust. Without the ability to communicate and help others deal with their emotions, you will only have the analytical aspects of investing without the important soft skills.
Best of Luck!
Dan recommends the following next steps:
Always be wary, and stay on top of your investments performance. Good luck in your journey!