If you want to take charge of your financial future, one of the best ways to do that is by getting into the stock market. If you’ve never bought or traded stocks, starting from zero can be extremely overwhelming. You’re going to want to set aside a decent amount of time to educate yourself on how the stock market works, and how you can make it work for you. Thankfully with the invention of the Internet, and good old fashioned books, there are plenty of resources available to help you get started and to understand the stock market. Keep reading to learn more about some of my favourite resources:
1. Managed Funds
If you don’t have time to learn more about the stock market, but also don’t want to be outside of the market and missing out on the investment potential, a good middle ground can be managed funds. You can have someone, or a company, manage your funds and investment, investing in a variety of projects to help ensure you have a stable portfolio. One thing I really like about managed funds is you can usually set up a regular amount to put in each month, and leave it at that. It’s a very easy way to get into the stock market, without spending a lot of time analysing things yourself. Check out Colorado Impact Investing for some great ways to start investing now.
2. Stocks For the Long Run by Jeremy Siegel
This is a great introduction to understanding market forces that impact the stock market. and some helpful guidance for building a successful portfolio. This book is focused around long term strategies for stock market success, so perfect for those of us who are younger, or are investing on behalf of those that are. This book also includes some analysis of some of the best performing stocks, to give you a starting point for your own research. I like that this book is written in a way that’s easy to digest, and offers value to readers no matter where in their stock journey they are.
3. Youtube
Youtube is a wonderful resource that’s filled with a variety of different channels around almost any topic, including the stock market. The best thing you can do is to watch a variety of videos around the stock market, and find someone who you feel resonates with your ideals and plans for long term investment. Of course a lot of the videos on Youtube are just from everyday people like you and I, but you’ll also find a bunch of helpful suggestions of other resources to look at as well as some suggestions of stocks that may be of interest to you. Of course, you must always do your own research, but Youtube can be a great place to get exposed to some new stock ideas, as well as to get answers to any questions you may have.
Building a successful portfolio should be everyone’s goal, no matter their age. It can help provide you with financial freedom as you age, and ensure that you have the money you need in order to retire.
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