What stocks should I put in my portfolio?
Hi! My name is Michael and I am very interested in the stock market. I want to look at different stocks to see what I should get. I would really appreciate some help with setting up my portfolio. #business #finance #college #marketing
Eventually, when you have more money, it can make sense to diversify into individual stocks. At this point, it's probably smart to speak to a professional to get their advice unless you want to make stock investing your hobby and passion. Along the way, if you really love a specific stock, it's totally fine to put some money into it. Just don't go "all in"...it almost never works out the way you hope.
1. Save up enough cash to cover 3 months of expenses
2. Start dollar cost averaging into total market index funds
3. Don't think about anything else until you have tens of thousands in the market minimum
4. Talk to a professional financial advisor (with fiduciary duty) about how to diversify your portfolio to meet your specific goals
But with real money, yes, funds are the better way for most individual investors in my unprofessional opinion (my wife and I have substantial retirement savings, and NONE of it is in individual stocks).
Ed recommends the following next steps: