When it comes to investing, the first thing that often comes to people’s minds is real estate, such as rental properties or even investing in yourself (i.e., education). Indeed, the stock market is often considered risky, akin to gambling. And, who can blame them? A stock market crash is big news for the media! But, when the S&P500 gains 25% in a year, it doesn’t seem to have as much clout.
In this article, we reached out to the experts and asked them their best tips for investing in stocks and ETF’s. The list is indeed comprehensive and, if you’re thinking of investing in the stock market, I think this will give you a head start!
So let’s dig in about what you need to know about investing in the stock market!
Get educated about investing
Before making any investment decisions, getting educated about investing in the stock market is always the best advice. Jumping in without knowing the risks is a fool’s game.
It’s your money! No one will care more about your financial situation than you, says Michael Lewis from Tutor Financial Advisors LLC. Do not solely rely on information provided by others. Get educated. You don’t have to be an expert, but you should know how to identify one, says Michael Lewis from Tutor Financial. Do not solely rely on information provided by others. Get educated. You don’t have to be an expert, but you should know how to identify one.
Read books about investing
Get educated about personal finance 101 by reading a few classic books. Bruce Harpham’s favorites include: “The Latte Factor” and “The Wealthy Barber” and “The Bogleheads’ Guide to Investing.” I would also suggest The Money Master, and my very own book, The Financially Independent Millennial, both available on Amazon.
Invest in a plan
I would tell my younger self first to assess their financial situation and map out their financial goals, before investing in the stock market. If you don’t know why you’re investing and what you are trying to…