New Investor Tips
Have you ever wanted to start investing in the stock market but it all just looks like a foreign language filled with codes and words that you just don’t understand? I know I have been in that boat before and one of the best things that I ever participated in was a “mock market” type project way back when I was in high school. We won’t discuss how long ago that was, but it has been quite a few days.
These days investing is easier than ever with apps and companies who make investing literally fool proof. People often think you need a ton of money to begin as well, but these days that is a complete myth.
With an app called Stash you can start investing in the market with as little as $5. Personally we have used another app called Stockpile which lets you invest with as little as $1, yes you read that right, literally pocket change can have you investing like a pro and it even gives great tips, too. I love that with these new apps and online market tips you can have your money put right into your checking/savings account in just a few days and can celebrate your big gains or you can just leave it and watch it grow.
Here are some tips that we have found helpful when investing:
1- Don’t let emotions get involved
Check your feelings at the door and trust your gut. I have always told people that investing isn’t fun if you go to sleep every night stressed about your choices. Start small using some of the services I mentioned above. Let the app guide you and listen to the tips, they are there to help you.
2- Pick companies you know
I owned a small share of Facebook for awhile. Yes, you read that right, Facebook. With the small investments you can take a tiny chunk of money and put it towards a huge company and can say you own part of one of our all-time favorite social media empires.
3-Do not over-trade
Some choices take time. If you have a bad day that does not mean you need to trade away your stocks. Let them ride unless you have someone that is well known in finance telling you otherwise.
4- Find someone to be in charge
If you have a large sum of money involved in your investing it is best to find someone who knows what they are doing. I have been researching recently people who are heavily involved in finance and came across Rusty Tweed who seems to really have his clients in mind when it comes to finance.
I hope that these tips help you if you are just getting into the world of finance in terms of the stock market. Do you have any tips to share? Comment below and let us know what you are thinking!