I’m often amazed by how many people tell me they would never even think about investing because it’s an entirely different world to them, which they don’t feel a part of. This angers me because investing should be an enjoyable activity and is open to anybody regardless of status.
Everybody should be made to feel as though he or she can start investing and here are my tips to get started on that journey:
- Ensure you are investment ready before you begin: As much as I would like everyone to experience investing at its best, I would never encourage you to start investing if you weren’t debt free or if you were currently spending more than you make. Get to a good situation where you are financially secure and then begin.
- Make a note of how much you can initially invest and stick to it: This is crucial in not only protecting yourself and the remainder of your hard-earned money, but also helps you determine which investments are the best for your current circumstances.
- Research and locate the best financial planner or investment firm: Take the time here to look for somebody who is not only reputable, but also someone whom you will gel with and feel comfortable with when discussing such financial matters. If you are planning on working closely with such people and on a continuing basis, this must be a good relationship.
- Educate yourself on the basics of investment account types and the possible risks: You may have joined forces with a financial planner, but half of the fun of investing is getting involved and finding out more about this progressive Furthermore, if you are placing your own money into investments, you may want to understand exactly what happens in the process. You can get tons of information online about finances, so it’s worth keeping yourself investment savvy!