Today I wanted to give you a beginner’s guide on – How to Invest. It can be confusing for some people with all of these new investing trends being shown on social media and other outlets.
As someone who has been investing money for many years, I know a thing or two about how to invest and not only what to invest in but how to go about it in a smart way. Many people see investing as a rich person’s game, but you do not need to be a millionaire to invest. There are many options to enter the game of investing with a low amount of money, and this is often the best way to start.
Here is my best advice on investing for beginners in 2022:
Decide how much you are able to invest each month and stick to it
The first thing I advise new investors to do is to take stock of their banking activity and account balances. How much money do you spend each month? How much money do you make each month, and do you have money to spare for investing? If so, how much is it? This knowledge will be key when you decide on what to invest in.
Decide on what to invest in
When it comes to choosing something to invest in, you have multiple options. You might decide to invest in an index fund that bundles several stocks together. You might decide to put your money into a specific stock, a type of precious metal, a cryptocurrency, etc. Whatever you decide, make sure you are really thinking it through. If you are investing in a stock, ask yourself can I see this company having issues in the future? Do they own their patent? Do I trust the CEO and their experience in the industry? Research the company or item you are investing in. Do not go off what a friend of a friend told you.
If you are someone who is learning how to invest, begin your journey by putting a small amount of money into your chosen investment. Then wait a bit and see how it plays out. I have heard stories of people putting their life savings into something that seemed like a guarantee, but as we know, life happens. There are no guarantees so observe how your money moves before continuing on. Investing just a little bit is a very good way to learn how investing works and will give you knowledge and confidence in where to invest next.
Scrape off the top as your money comes in
When you see that your investment is performing well, do not be afraid to scrape off some money and either save it or invest in something else. There is no way to tell how long your money will be growing (or if the stock/currency will drop). So don’t be afraid to withdraw money as it grows and use it for other investment opportunities.
I hope my advice for new investors resonated with you. I have a 90-day Wealth program that takes you through my exclusive teachings on money and how to build a steady stream of income that will keep you supported for decades to come.