Learn more about moneyandinvestments with this collection
How to manage risk
How to analyze investment opportunities
The importance of long-term planning
Worried About Investing?
Rent, utility bills, debt payments and groceries might seem like all you can afford when you're just starting out. But once you've mastered budgeting for those monthly expenses (and set aside at least a little cash in an emergency fund), it's time to start investing.
The tricky part is figuring out what to invest in — and how much.
As a newbie to the world of investing, you'll have a lot of questions, not the least of which is: How do I get started, and what are the best investment strategies for beginners?
Here's what you should know to start investing.
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MORE IDEAS ON THIS
Understand Your Investment Options
It’s important to understand each instrument and how much risk it carries. The most popular investments for those just starting out include:
Stocks:
- A stock is a share of ownership in a single company. Stocks are also known as equities.
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Deciding How Much To Invest
How much you should invest depends on your investment goal and when you need to reach it.
One common investment goal is retirement. If you have a retirement account at work, like a 401(k), and it offers matching dollars, your first investing milestone is easy: Contribute at least enough to ...
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Getting Started As Early As Possible
Investing when you’re young is one of the best ways to see solid returns on your money. That's thanks to compound earnings, which means your investment returns start earning their own return. Compounding allows your account balance to snowball over time.
Example:
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Open An Investment Account
If you're investing for another goal, you likely want to avoid retirement accounts — which are designed to be used for retirement, and thus have restrictions about when and how you can take your money back out — and choose a taxable brokerage account. You can remove money from a taxable brokerage...
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Pick An Investment Strategy
Your investment strategy depends on your saving goals, how much money you need to reach them and your time horizon.
If your savings goal is more than 20 years away (like retirement), almost all of your money can be in stocks.
If you’re saving for a short-term goal and you need the mon...
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CURATED FROM
IDEAS CURATED BY
"I can do all things through Christ who strengthens me.” — Philippians 4:13
Learning the basics about investing can be pretty complicated and overwhelming without the proper information. Hopefully this guide can help you get started.
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Related collections
Other curated ideas on this topic:
The 50/15/5 rule for multiple financial goals
- 50% of your income goes toward essential expenses: rent, bills, minimum debt payments.
- 15% percent goes to retirement savings. They also suggest you increase this by 1% each year.
- 5% goes toward unexpected monthly expenses or building an emergency...
Needs, wants and savings
- Needs: these are those bills that you absolutely must pay and are the things necessary for survival (rent or mortgage payments, car payments, groceries, insurance, health care, minimum debt payment, and utilities).
- Wants: these include all the things...
The "zero-sum budget"
An emergency savings fund buffer is vital for freelancers. It will help you to keep your head above water when your income fluctuates.
A zero-sum budget means living off last month's income alone. This can be done in the following way:
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