6 answers
Gurbani
Student
Maple Valley, Washington
1
Question
Asked
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how can i start to invest in things and what to invest in?
I don't know where to invest but want to start to s i need a little help with that. and how does this work how do i get profit from this.
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6 answers
Sue Lemus
Office Manager
7
Answers
Lake Forest, California
Updated
Sue’s Answer
Hello Gurbani😊
I first want to applaud you for asking for information prior to just jumping in to investing on your own. I work for a financial planner and in fact just passed the 3rd exam I needed to have a securities license of my own.
My opinion may be a bit biased because I work for a financial planner and some of my opinion is because I’ve lived on this planet a long time👵🏻🤣
Please gain knowledge prior to investing any money. The internet makes it easy to make investments without knowing what you are doing. It’s not nearly as simple as buying a stock and selling it for a profit.
What is your objective for investing? To make money of course but why? For retirement? To buy a house in 10 years? To take a dream trip in 5? It’s important to have a specific goal for the money.
Realize, as David said earlier, investing is complex. Having the wrong type of account or buying and selling can cause a huge tax bill from the IRS. Some investments have withdrawal penalties. You have to understand the consequences of any decision made
Know your risk tolerance. Are you willing to lose all of your money to try for a big gain? Or are you more comfortable having low risk for a smaller return. Time horizon of your goal and investment risk tolerance are part of the equation to choose what’s best for you.
Before diving in on your own, see if you can speak to a financial planner. Many charge fees to create a plan for you. I wouldn’t do that at this point. But maybe there is someone in your community that would be willing to sit with you over coffee and answer questions.
Investopedia was my go to when I was studying for my exams. You may be able to learn a lot from that sight. It would also be helpful to have some knowledge prior to meeting with a financial person for guidance. I may be mistaken but I thought I saw that investopedia has some sort of simulated investment tool that you can play around with.
I first want to applaud you for asking for information prior to just jumping in to investing on your own. I work for a financial planner and in fact just passed the 3rd exam I needed to have a securities license of my own.
My opinion may be a bit biased because I work for a financial planner and some of my opinion is because I’ve lived on this planet a long time👵🏻🤣
Please gain knowledge prior to investing any money. The internet makes it easy to make investments without knowing what you are doing. It’s not nearly as simple as buying a stock and selling it for a profit.
Sue recommends the following next steps:
david kirk
Retired Computing Manager
478
Answers
Syracuse, New York
Updated
david’s Answer
Hi, Gurbani,
Investing is a complex process and full of risk. I encourage you to get a book or two from the public library to read about the various types of investing and their risks, and then speak directly with a professional . Many investors do not profit from investing; they lose. There are no guarantees. You need to know about stocks, bonds, mutual funds and the many varieties of each. I do not believe this is a forum for this topic because it is complex and there is so much for you to absorb. But I do encourage you to study this, as the world of investments will be part of your life, whether you wish it or not. All the best to you,
Investing is a complex process and full of risk. I encourage you to get a book or two from the public library to read about the various types of investing and their risks, and then speak directly with a professional . Many investors do not profit from investing; they lose. There are no guarantees. You need to know about stocks, bonds, mutual funds and the many varieties of each. I do not believe this is a forum for this topic because it is complex and there is so much for you to absorb. But I do encourage you to study this, as the world of investments will be part of your life, whether you wish it or not. All the best to you,
Blane Barker
Marketing Leader
2
Answers
Austin, Texas
Updated
Blane’s Answer
Investing is the most effective method to put your hard-earned money to work and secure your financial future for years to come. By starting to invest as early as possible, you can take advantage of the power of compound interest and significantly increase your wealth over time. This is particularly important if you have financial goals, such as buying a property, starting a business, or preparing for retirement.
Although investing may seem daunting and complex, there are numerous options available for individuals of varying experience levels and financial situations. From stocks, bonds, and mutual funds to real estate, commodities, and cryptocurrency, the investment landscape is vast and diverse. Determining your investment preferences, risk tolerance, and financial goals is essential in identifying the appropriate investment strategy for you.
The good news is that there is an abundance of valuable resources that can assist you in learning about and starting your investment journey. Online tutorials, articles, books, and podcasts can help you familiarize yourself with the terminology, strategies, and techniques employed by successful investors. Additionally, user-friendly digital platforms and robo-advisors have made it more accessible than ever for individuals to become involved in the world of investing, regardless of their background or bank account.
One such free online tool that has proven useful for many investors, including myself, is NerdWallet's Investing category (https://www.nerdwallet.com/h/category/investing). This platform features a wealth of information and guidance on investment strategies, portfolio management, and retirement planning. NerdWallet's comprehensive resources can provide the support and knowledge necessary for a successful investing experience.
It is commendable that, as a student, you are already exploring the world of investing and seeking opportunities to grow your financial security. This proactive mindset will serve you well in your journey toward financial success and independence. Keep educating yourself, utilizing available resources, and making informed investment decisions, and you'll be well on your way to a prosperous future!
Although investing may seem daunting and complex, there are numerous options available for individuals of varying experience levels and financial situations. From stocks, bonds, and mutual funds to real estate, commodities, and cryptocurrency, the investment landscape is vast and diverse. Determining your investment preferences, risk tolerance, and financial goals is essential in identifying the appropriate investment strategy for you.
The good news is that there is an abundance of valuable resources that can assist you in learning about and starting your investment journey. Online tutorials, articles, books, and podcasts can help you familiarize yourself with the terminology, strategies, and techniques employed by successful investors. Additionally, user-friendly digital platforms and robo-advisors have made it more accessible than ever for individuals to become involved in the world of investing, regardless of their background or bank account.
One such free online tool that has proven useful for many investors, including myself, is NerdWallet's Investing category (https://www.nerdwallet.com/h/category/investing). This platform features a wealth of information and guidance on investment strategies, portfolio management, and retirement planning. NerdWallet's comprehensive resources can provide the support and knowledge necessary for a successful investing experience.
It is commendable that, as a student, you are already exploring the world of investing and seeking opportunities to grow your financial security. This proactive mindset will serve you well in your journey toward financial success and independence. Keep educating yourself, utilizing available resources, and making informed investment decisions, and you'll be well on your way to a prosperous future!
Scott Snyder
eCommerce Lead, Online Marketing at AT&T
9
Answers
Updated
Scott’s Answer
Hi
If you’re interested in a career then that’s complicated, but if you simply want to invest (like I do) then the best place to start, in my opinion, is an App called Stash.
There are lots of apps out there, and I use a lot of them, but most require you have some knowledge — Stash is the simplest and the best one for starters. It makes it very simple — and does not encourage risky investing.
Never put in more money than you can afford, but do try and invest something every week or month —- the key is to invest young and leave it there a long time! Even when the market falls, just leave it long term… and start as young as possible!
Stash keeps it simple and also gives info if you want to learn more.
There are lots of other apps I use (Sofi, Robinhood, Webull, M)… but stash is definitely the best for investors just starting out
Good luck!
If you’re interested in a career then that’s complicated, but if you simply want to invest (like I do) then the best place to start, in my opinion, is an App called Stash.
There are lots of apps out there, and I use a lot of them, but most require you have some knowledge — Stash is the simplest and the best one for starters. It makes it very simple — and does not encourage risky investing.
Never put in more money than you can afford, but do try and invest something every week or month —- the key is to invest young and leave it there a long time! Even when the market falls, just leave it long term… and start as young as possible!
Stash keeps it simple and also gives info if you want to learn more.
There are lots of other apps I use (Sofi, Robinhood, Webull, M)… but stash is definitely the best for investors just starting out
Good luck!
Thank you for the advice.
Gurbani
Thomas Digenan
Investment Specialist
4
Answers
Chicago, Illinois
Updated
Thomas’s Answer
To make your investment journey more comprehensive and successful, it's essential to follow several key principles and strategies.
1. Start small: When beginning your investment journey, it is wise to start with a small amount of money. This allows you to gain experience and learn from your decisions without facing significant financial losses.
2. Invest in what you know: Focus on industries and companies you are familiar with and understand. Having in-depth knowledge about a specific company or sector will help you make more informed and strategic investment decisions.
3. There are no sure things: Investing is inherently risky, and no investment can guarantee a positive return. Always be wary of "sure things," as they often turn out to be far from it.
4. Assess your risk tolerance: It is essential to understand your risk tolerance before venturing into investments. Take the time to determine how much financial risk you are willing to take and make investment choices accordingly.
5. Keep an investment diary: Documenting your investment journey, including strategies, successes, and failures, can be a valuable resource as you continue to learn and grow as an investor. Regularly reviewing your investment diary can help you refine your approach and avoid repeating past mistakes.
6. Learn from experience: Experience is a great teacher when it comes to investing. Use each investment, whether successful or not, as an opportunity to learn and enhance your investment strategies and decision-making process.
7. Conduct thorough research: Prior to investing in common stock or other securities, research the company from various perspectives, including customers, suppliers, vendors, creditors, employees, and management. Having a well-rounded understanding of the company will better inform your investment choice.
8. Understand the other side of the trade: Recognizing that other investors may have opposing views on a security is crucial. Assessing their motives and reasoning can help you make more well-informed decisions about your own investment choices.
9. Have a clear investment plan: Knowing why you are buying a particular security, how you valued it, and what your exit strategy is before making any investments will increase your likelihood of success. Having a solid investment plan is crucial for achieving your financial goals.
10. Embrace the learning process: Investing can be a challenging and, at times, intimidating endeavor. Embrace the learning process, seek advice from experienced investors, and continue refining your investment strategies to improve your chances of success. Good luck on your investment journey!
1. Start small: When beginning your investment journey, it is wise to start with a small amount of money. This allows you to gain experience and learn from your decisions without facing significant financial losses.
2. Invest in what you know: Focus on industries and companies you are familiar with and understand. Having in-depth knowledge about a specific company or sector will help you make more informed and strategic investment decisions.
3. There are no sure things: Investing is inherently risky, and no investment can guarantee a positive return. Always be wary of "sure things," as they often turn out to be far from it.
4. Assess your risk tolerance: It is essential to understand your risk tolerance before venturing into investments. Take the time to determine how much financial risk you are willing to take and make investment choices accordingly.
5. Keep an investment diary: Documenting your investment journey, including strategies, successes, and failures, can be a valuable resource as you continue to learn and grow as an investor. Regularly reviewing your investment diary can help you refine your approach and avoid repeating past mistakes.
6. Learn from experience: Experience is a great teacher when it comes to investing. Use each investment, whether successful or not, as an opportunity to learn and enhance your investment strategies and decision-making process.
7. Conduct thorough research: Prior to investing in common stock or other securities, research the company from various perspectives, including customers, suppliers, vendors, creditors, employees, and management. Having a well-rounded understanding of the company will better inform your investment choice.
8. Understand the other side of the trade: Recognizing that other investors may have opposing views on a security is crucial. Assessing their motives and reasoning can help you make more well-informed decisions about your own investment choices.
9. Have a clear investment plan: Knowing why you are buying a particular security, how you valued it, and what your exit strategy is before making any investments will increase your likelihood of success. Having a solid investment plan is crucial for achieving your financial goals.
10. Embrace the learning process: Investing can be a challenging and, at times, intimidating endeavor. Embrace the learning process, seek advice from experienced investors, and continue refining your investment strategies to improve your chances of success. Good luck on your investment journey!
Thank you for giving me advice.
Gurbani
Jack Alexakis
Project Manager
11
Answers
Lakewood Ranch, FL
Updated
Jack’s Answer
Hi. Great question. There are so many different ways and different answers. I believe you can do some research on the internet about investing, you can look into local financial planners and you can possibly look into investing through your work possibly if your work has something set up for you. All investing is a risk, but for a long term solution if you are looking at retirement in the future or investing as a day job; that is the first question you need to answer for yourself. There are organizations out there to assist you if you want to do this as a career and work for an organization.
I wish you the best on your journey.
I wish you the best on your journey.