Best Steps to Help Teach Yourself Investing
The problem most people have is that learning how to invest can be intimidating. There are lots of fancy terms, strategies, and numbers that might concern you that you’ll lose money.
Learn to Invest: How to Teach Yourself
Are you ready to teach yourself investing? Do you want to control what your money does? I put together some investing 101 steps that helped me learn what I need to know to manage my own investment portfolio.
1. Buy and read investing books
One of the best first steps you can take to teach yourself how to invest is to buy and read investing books. Each book and author will give you insights and different views into the stock market and how to best put your money to work.
2. Learn the investing terminology
The more you read these terms in books the more natural it becomes to understand and remember what they mean. You’d be surprised how much investing vocabulary you’ll retain just from reading books.
3. Attend any company meetings for employees
Does your company have a 401k? Or other financial benefits? If so, definitely make sure you are taking advantage of that offer. This is especially true if your company offers a match on retirement investing.
4. Start reading fund prospectuses
Start reading these on funds you want to invest in or currently do. It starts to shape your mind and think like an investor by giving you insights into things like the brief summary of the company’s background and financial information, name of the company issuing the stock, number of shares available, costs, growth, and more.
5. Follow & read personal finance websites
As you begin your educational journal with investing, you’ll inevitably land on numerous financial websites and blogs. There are hundreds of them online, even more than you ever realized.
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