How to Start Investing For Beginners

[Mika]

If you have never invested, this might be confusing. You wouldn’t know where to invest, how much to invest, how to start, etc. Here is a5 easy step guide for beginners.

Sign up with the micro-investing apps like Robinhood, Webull, TD Ameritrade, Fidelity, Stash, Acorn, etc., and fund your account. If you don’t know how these platforms actually work, just experiment with $10-$20

If you know how these investing platforms work and if you want to give them a try, the next step is to identify how much risk you can take or handle. In other words, find out how much loss you are ready to take. Understanding risk tolerance will let you know how much money you should be investing.

Break down your goals into three strategies, short term, medium-term, and long term

Choose the assets that are concurrent with your risk tolerance level and goals

Create an investment strategy to buy low and sell high

 

[Jasmine]

You need to break down your investment goals into three different investment goals: short term investment, medium-term investment, and long term investment. In my opinion, you will have to use all of these three investment strategies. You cannot just continue to invest and invest, you also need to withdraw your investment in order to maintain your life. If you are full time investor with no other income source, you need money to pay your bills, that's where your short term investment comes handy. You will also need money to buy things and enjoy your life. When you have medium term investment, you can use that investment to pay for the things that you need. If you already have and income source and do not have to use your investment to pay bills, you can juggle between three different investment strategies, you can invest for short term and then convert it to medium term or long term.

 

[Shaf]

My investment journey did not go according to plan, because I didn't even have any.

The first way I invested money was in a local offline business. I was though that the key to investing is to start with a small amount of money, in a business that has low risk and which requires little to no experience. This led to rearing of poultry and some nice profits. I've invested so far in cryptocurrency, stocks and wholesale of foodstuffs.

The best investment advice I've received was this; start small, start fast while you learn and scale.

Like stated, it's very important to understand the type of risk you are taking in any investment. You should be prepared to lose part or all of your money in some cases, so if you are absolutely sure you can't deal with this, go for safer investment strategies.

 

[Yusra3]

There are a lot of ways to start investing, but they all focus on the same basic idea: saving your money and putting it somewhere where it can grow.

You might be thinking that sounds like a lot of work and it is! The first thing you need to do is find out how much money you have available to invest, and then figure out how much you want to save. We recommend starting with $500 per month. This will give you enough room to start investing without getting overwhelmed with the idea of managing your money on a daily basis.

Once you've got your budget figured out, there are several different ways to go about saving and investing your money. One option is setting up automatic deposits into an account every month or so. Another option is using direct deposit from your employer or other source of regular income. this saves time because it's done for you automatically. Another option is using an automated investment service like Wealthfront or Betterment that takes care of all of the rebalancing for you!