12 answers
cienna
Student
1
Question
Asked
557 views
if i want to do investing wheres the best place to start?
any tips for investing
12 answers
Ana J. Gill
strategy
2
Answers
New York, New York
Updated
Ana J.’s Answer
Investopedia is a great resource
Hi Ana, can you provide some more detail for Cienna about why this is a good resource?
Sharyn Grose, Admin
Kumar Kanagasabai
Consulting
2
Answers
New York, New York
Updated
Kumar’s Answer
I would start by investing in low cost mutual funds and exchange traded funds. Many of the platforms out there offer access to the funds. I would spend the first 6-12 months first understanding how these things work before trying to investing in individual stocks
Tim Raatz
Risk Management
4
Answers
Orlando, Florida
Updated
Tim’s Answer
One thing you may want to consider is a stock market simulator. I recommend doing an online search for one that interests you. One simulator I found is bestbrokers.de. I believe using a tool like this can help enhance your knowledge of the stock market and trading.
Stephen Baker
Product Development
2
Answers
Los Angeles, California
Updated
Stephen’s Answer
It is very important to become educated on investing. Start by reading books on investing. "Trading in the Zone" is one I really like. The process is way longer than you think it is, but realize it is VERY doable.
Richard Schierer
IT Manager/Consultant
2
Answers
Troutman, North Carolina
Updated
Richard’s Answer
If you are a beginner, read, research, talk to others in online forums, social media. Don't invest a dollar,,,, yet! Don't forget to listen/read to podcasts and blogs. Think about your loss tolerance. How precious is your investment dollars to you? Frequently visit the online investment sites, Forbes, Bloomberg, and others to learn the jargon.
Awah Aweh
Teaching
5
Answers
Bamenda, Northwest, Cameroon
Updated
Awah’s Answer
To start investing, educate yourself about different investment options and create a diversified portfolio aligned with your financial goals and risk tolerance. Open a brokerage account with a reputable institution, start with a small amount, and gradually increase your investments as you gain knowledge and confidence in the investment process.
Douglas Ray, CMR, AMR
Sales, consulting, and marketing
49
Answers
Marietta, Georgia
Updated
Douglas’s Answer
Every investor was once in your shoes, asking the same question before making their first investment. Start by empowering yourself with knowledge. There's a wealth of information available in books and courses. But if time is of the essence, magazines like Money and Kiplinger are great resources. They frequently highlight top-performing mutual funds, a common starting point for many investors. Make sure to consider No-load funds and check out Vanguard.com for further insights to boost your investment know-how. Here's to your success!
James Constantine Frangos
Consultant Dietitian & Software Developer since 1972 => Nutrition Education => Health & Longevity.
3854
Answers
Gold Coast, Queensland, Australia
Updated
James Constantine’s Answer
Hey there, Cienna!
Stepping into the world of investing can feel like a big leap, but don't worry, you're not alone! Here are some friendly pointers to help you navigate this exciting journey:
1. **Learn the Basics**: Start by learning about various investment options like stocks, bonds, mutual funds, ETFs, real estate, and more. It's like learning the ABCs before you start reading!
2. **Define Your Goals**: What do you want to achieve with your investments? Maybe you're saving for retirement, planning to buy a house, or funding your child's education. Knowing your goals will guide your investment decisions.
3. **Know Your Risk Appetite**: Everyone's risk tolerance is different. It's important to understand how much risk you're comfortable with when investing. It's like knowing how spicy you like your food!
4. **Spread Your Investments**: Diversification is like not putting all your eggs in one basket. By investing in different areas, you can manage risk better.
5. **Consider Retirement Accounts**: If you have access to a 401(k) or 403(b) through your employer, it's a great place to start investing. It's like having a head start in a race!
6. **Don't Hesitate to Seek Advice**: If you're unsure about where to begin or feel overwhelmed, consider seeking advice from a financial advisor. They can help you understand your financial situation and suggest suitable investment strategies.
7. **Stay Informed**: Keep up with financial news and market trends. It's like keeping an eye on the weather forecast before planning a picnic.
8. **Patience is a Virtue**: Investing is a marathon, not a sprint. Stay patient and disciplined, especially during market fluctuations.
9. **Watch Out for Fees and Expenses**: Be aware of the fees and expenses involved in your investments. High fees can nibble away at your returns over time.
10. **Keep an Eye on Your Portfolio**: Regularly review and rebalance your portfolio to make sure it aligns with your goals and risk tolerance. It's like tuning a guitar to keep it sounding great!
In a nutshell, start by learning about investing, define your goals, understand your risk tolerance, diversify your investments, consider retirement accounts, seek professional advice if needed, stay informed, be patient, understand fees, and regularly review your portfolio.
For more information, check out these reliable sources:
1. Investopedia
2. The Wall Street Journal
3. Forbes
Remember, it's perfectly fine to ask for more information. We're here to help you! And if you're the praying type, there's no harm in seeking a little divine guidance too!
Best of luck on your investment journey,
James
Stepping into the world of investing can feel like a big leap, but don't worry, you're not alone! Here are some friendly pointers to help you navigate this exciting journey:
1. **Learn the Basics**: Start by learning about various investment options like stocks, bonds, mutual funds, ETFs, real estate, and more. It's like learning the ABCs before you start reading!
2. **Define Your Goals**: What do you want to achieve with your investments? Maybe you're saving for retirement, planning to buy a house, or funding your child's education. Knowing your goals will guide your investment decisions.
3. **Know Your Risk Appetite**: Everyone's risk tolerance is different. It's important to understand how much risk you're comfortable with when investing. It's like knowing how spicy you like your food!
4. **Spread Your Investments**: Diversification is like not putting all your eggs in one basket. By investing in different areas, you can manage risk better.
5. **Consider Retirement Accounts**: If you have access to a 401(k) or 403(b) through your employer, it's a great place to start investing. It's like having a head start in a race!
6. **Don't Hesitate to Seek Advice**: If you're unsure about where to begin or feel overwhelmed, consider seeking advice from a financial advisor. They can help you understand your financial situation and suggest suitable investment strategies.
7. **Stay Informed**: Keep up with financial news and market trends. It's like keeping an eye on the weather forecast before planning a picnic.
8. **Patience is a Virtue**: Investing is a marathon, not a sprint. Stay patient and disciplined, especially during market fluctuations.
9. **Watch Out for Fees and Expenses**: Be aware of the fees and expenses involved in your investments. High fees can nibble away at your returns over time.
10. **Keep an Eye on Your Portfolio**: Regularly review and rebalance your portfolio to make sure it aligns with your goals and risk tolerance. It's like tuning a guitar to keep it sounding great!
In a nutshell, start by learning about investing, define your goals, understand your risk tolerance, diversify your investments, consider retirement accounts, seek professional advice if needed, stay informed, be patient, understand fees, and regularly review your portfolio.
For more information, check out these reliable sources:
1. Investopedia
2. The Wall Street Journal
3. Forbes
Remember, it's perfectly fine to ask for more information. We're here to help you! And if you're the praying type, there's no harm in seeking a little divine guidance too!
Best of luck on your investment journey,
James
Anthony Lee
3
Answers
New York, New York
Updated
Anthony’s Answer
Before you dive into the world of stock market investing, it's crucial to arm yourself with the right knowledge. You can start by educating yourself on the basics. Some excellent books to help you understand the fundamentals include "The Warren Buffet Way" and "A Beginner's Guide to the Stock Market: Everything You Need to Start Making Money Today".
When you're ready to start investing, it's generally a good idea to avoid putting all your money into individual companies. Instead, consider investing in a broader Exchange-Traded Fund (ETF) like SPY or VOO. These ETFs have proven to be reliable with a lower risk factor over time.
If you find yourself drawn to specific sectors or types of ETFs, you can further your research using resources like the Fidelity site. Here's the link for your convenience:
https://www.fidelity.com/etfs/find-an-etf?selectTab=4&imm_pid=700000001009773&immid=100826_SEA&imm_eid=ep51864137331&utm_source=GOOGLE&utm_medium=paid_search&utm_account_id=700000001009773&utm_campaign=MUT&utm_content=58700005686871798&utm_term=sector+etf+list&utm_campaign_id=100826&utm_id=71700000063788318&gad_source=1&gclid=CjwKCAiAu9yqBhBmEiwAHTx5p7v9r1aF9mvzataBwDEii8RWB7A_3xSvny_29OH8LF9R_EDXlF2sDBoCwXwQAvD_BwE&gclsrc=aw.ds
When you're ready to start investing, it's generally a good idea to avoid putting all your money into individual companies. Instead, consider investing in a broader Exchange-Traded Fund (ETF) like SPY or VOO. These ETFs have proven to be reliable with a lower risk factor over time.
If you find yourself drawn to specific sectors or types of ETFs, you can further your research using resources like the Fidelity site. Here's the link for your convenience:
https://www.fidelity.com/etfs/find-an-etf?selectTab=4&imm_pid=700000001009773&immid=100826_SEA&imm_eid=ep51864137331&utm_source=GOOGLE&utm_medium=paid_search&utm_account_id=700000001009773&utm_campaign=MUT&utm_content=58700005686871798&utm_term=sector+etf+list&utm_campaign_id=100826&utm_id=71700000063788318&gad_source=1&gclid=CjwKCAiAu9yqBhBmEiwAHTx5p7v9r1aF9mvzataBwDEii8RWB7A_3xSvny_29OH8LF9R_EDXlF2sDBoCwXwQAvD_BwE&gclsrc=aw.ds
Sara Al Khatib
Consulting
2
Answers
New York, New York
Updated
Sara’s Answer
Hello Cienna,
That's an excellent question! Beginning your journey into investing can indeed seem a bit daunting, but don't worry, it's a step in the right direction. My advice would be to kick-start your investment journey by setting up an account with established firms like Fidelity or Vanguard. They're known for their reliability and can help make the process smoother for you. Keep going, you're doing great!
That's an excellent question! Beginning your journey into investing can indeed seem a bit daunting, but don't worry, it's a step in the right direction. My advice would be to kick-start your investment journey by setting up an account with established firms like Fidelity or Vanguard. They're known for their reliability and can help make the process smoother for you. Keep going, you're doing great!
Katherine Avery
Run a music studio and teach private music lessons; teach college-level religion classes
222
Answers
Spanish Fork, Utah
Updated
Katherine’s Answer
One principle is to look up and learn who the best and most successful investors are right now (names like Warren Buffett and Ray Dalio) and then choose to invest in what they invest in--they call it riding the coat-tails. A hint that might be helpful for letting technology be a good servant for you is, that if you tend to look up articles and use search engines to ask questions and learn info for a few days, weeks, or months, about investing or these famous names on a smartphone, then pretty soon your browser homepage will start suggesting more similar kinds of articles for you and every day you can read more about what's being said about or said by these people, without you having to do the searching yourself as much anymore. And so you can learn more every day about the field and industry, and over time you'll feel more confident about what you want to do.
Mayank Sharma
Internal Auditor
10
Answers
New Delhi, Delhi, India
Updated
Mayank’s Answer
Getting started with investing is a great step towards financial independence. Here's how to begin:
1. **Educate Yourself**: Start by learning the basics of investing. This includes understanding different types of investments (stocks, bonds, mutual funds, real estate), how they work, and the risks involved. Books like "The Intelligent Investor" by Benjamin Graham and "A Random Walk Down Wall Street" by Burton Malkiel can be a good starting point. Online platforms like Khan Academy, Coursera, and Investopedia also offer courses and articles on investing.
2. **Set Financial Goals**: Before you start investing, it's important to understand why you're investing. Are you saving for retirement, a down payment on a house, your child's education, or something else? Your goals will help determine your investment strategy, including what types of investments are most suitable and how much risk you're willing to take.
3. **Create a Budget**: Determine how much money you can afford to invest. This should be money you're willing to put at risk and won't need in the short term.
4. **Open an Investment Account**: This could be a brokerage account, an Individual Retirement Account (IRA), or a 401(k) through your employer. Each type of account has different tax implications, so it's important to understand these before deciding where to open an account.
5. **Choose Your Investments**: Based on your financial goals and risk tolerance, choose a mix of investments for your portfolio. Many beginners start with mutual funds or exchange-traded funds (ETFs), which provide diversification across a range of stocks or bonds.
6. **Start Small and Diversify**: You don't need a lot of money to start investing. The key is to start small, invest regularly, and diversify your portfolio across different types of investments.
7. **Consult a Financial Advisor**: If you're unsure about where to start or what to invest in, consider consulting with a financial advisor. They can provide personalized advice based on your financial situation and goals.
8. **Keep Learning and Stay Informed**: Investing is a lifelong journey. Continue to educate yourself about investing and stay informed about financial news and trends.
Remember, investing involves risk, including the potential loss of principal, and it's important to do thorough research and consider seeking advice from a certified professional before making any investment decisions.
1. **Educate Yourself**: Start by learning the basics of investing. This includes understanding different types of investments (stocks, bonds, mutual funds, real estate), how they work, and the risks involved. Books like "The Intelligent Investor" by Benjamin Graham and "A Random Walk Down Wall Street" by Burton Malkiel can be a good starting point. Online platforms like Khan Academy, Coursera, and Investopedia also offer courses and articles on investing.
2. **Set Financial Goals**: Before you start investing, it's important to understand why you're investing. Are you saving for retirement, a down payment on a house, your child's education, or something else? Your goals will help determine your investment strategy, including what types of investments are most suitable and how much risk you're willing to take.
3. **Create a Budget**: Determine how much money you can afford to invest. This should be money you're willing to put at risk and won't need in the short term.
4. **Open an Investment Account**: This could be a brokerage account, an Individual Retirement Account (IRA), or a 401(k) through your employer. Each type of account has different tax implications, so it's important to understand these before deciding where to open an account.
5. **Choose Your Investments**: Based on your financial goals and risk tolerance, choose a mix of investments for your portfolio. Many beginners start with mutual funds or exchange-traded funds (ETFs), which provide diversification across a range of stocks or bonds.
6. **Start Small and Diversify**: You don't need a lot of money to start investing. The key is to start small, invest regularly, and diversify your portfolio across different types of investments.
7. **Consult a Financial Advisor**: If you're unsure about where to start or what to invest in, consider consulting with a financial advisor. They can provide personalized advice based on your financial situation and goals.
8. **Keep Learning and Stay Informed**: Investing is a lifelong journey. Continue to educate yourself about investing and stay informed about financial news and trends.
Remember, investing involves risk, including the potential loss of principal, and it's important to do thorough research and consider seeking advice from a certified professional before making any investment decisions.
Delete Comment
Flag Comment