• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • HOME
  • RECOMMENDED BOOKS
  • FREE TOOLS
  • CONTACT US
  • ABOUT

The Fortunate Investor

Investing, Business & Personal Finance For Wealth Builders

  • Save Money
  • Invest Your Money
  • Get Out of Debt
  • Making Money Online
  • Family & Money
  • Taxes
  • Business
  • Retirement
    • Retirement Calculator
Home » 5 Tips for First-Time Investors

5 Tips for First-Time Investors

December 16, 2020 By Bobby | This article may contain affiliate links. For more information visit our Disclosure

Tweet
Share
Pin
Share
Share

5 Tips for First-Time InvestorsIf you are considering getting into an investment, you are probably unsure about where to start. The murky world of stocks and bonds can be overwhelming for beginners, and many people find themselves too intimidated to give it a go.

But this is such a missed opportunity because there are so many benefits to investing. Making smart investments can be a hugely lucrative endeavor, and can be a great way to acquire a source of passive income, whereby you earn a constant stream of money without having to work for it. And investing needn’t be complicated. You don’t need to be an expert in every type of investment or understand a comparison of IQ Option vs Plus500. All you need are a few basic pieces of knowledge and a goal.

If you would like to get started in investing, here are five handy tips to help you along the way.

Set a goal

No successful investor parts with their money without having a firm goal in mind. What do you want to get out of your investments? Without a doubt, you will want to make money, but every investor wants different things from their assets. Make sure your goals are SMART, i.e. Specific, Measurable, Achievable, Relevant, and Time-Sensitive. This way, you will be able to track your investment progress and have a clearer view of how successful your activity has been. It will give you the necessary information to adjust your investments if needed.

Create a budget

If done right, investments can make you a lot of money. But if you are unsuccessful, you risk losing a lot. It’s always a good idea to create a budget before you put your money into an investment, and make sure you don’t overinvest. Ensure you leave yourself with enough money to pay your monthly bills and feed your family. Stick to your budget and don’t let yourself become addicted.

Learn the terminology

Once you have created your budget, you should start learning some of the fundamentals of investing. The more you get involved with an investment, the more knowledge you’ll pick up. But you should still start with some basic terminology and the different types of investment. Familiarize yourself with stocks, bonds, real estate, and mutual funds. Can you explain what the terms diversification and market efficiency mean? Brush up and you’ll be in a much better position to succeed.

Find a mentor

The best way to get good at anything is to learn from an expert. Seek out experienced investors and look at what they do with their money. Ask them for advice on what to do with your money, and you will undoubtedly pick up some useful tips. And when you become experienced enough yourself, you could pass on the favor to a novice.

Stay informed

No matter what you invest in, things change. What is a good investment one day will be a financial black hole the next. To minimize your risk, you should make an effort to stay informed and keep up with market trends and the global economy.

  • About
  • Latest Posts
Bobby
Latest posts by Bobby (see all)
  • How To Earn An Extra Income By Pursuing Your Hobbies - July 6, 2022
  • Cut the Cost of Running Your Business By Going Green - July 5, 2022
  • 4 Office Services Every Business Should Have - July 5, 2022

Primary Sidebar

Popular Articles

How To Earn An Extra Income By Pursuing Your Hobbies

How To Earn An Extra Income By Pursuing Your Hobbies

Do you have a hobby that you love? Are you passionate about it and think you could make some money … Read More about How To Earn An Extra Income By Pursuing Your Hobbies

save business money go green

Cut the Cost of Running Your Business By Going Green

Unless you have been living under a rock for the past five years you will know just how important … Read More about Cut the Cost of Running Your Business By Going Green

4 Office Services Every Business Should Have

Successful businesses are built on the quality of the office. Without a productive environment, … Read More about 4 Office Services Every Business Should Have

Start Growing Your Small Business Right Now

Start Growing Your Small Business Right Now

Start Growing Your Small Business Right Now If you feel like you’re running out of time with your … Read More about Start Growing Your Small Business Right Now

How To Make Your Real Estate Ventures A Lot Smoother

How To Make Your Real Estate Ventures A Lot Smoother

Anyone who has entered the property world will know that it’s a pretty lucrative business if you get … Read More about How To Make Your Real Estate Ventures A Lot Smoother

Footer

TOPICS

SAVE MONEY
INVEST MONEY
REDUCE DEBT
MAKE MONEY
FAMILY & MONEY
TAXES
START A BUSINESS
RETIREMENT

THE FORTUNATE INVESTOR

ABOUT US
ADVERTISE
CONTACT US

The Fortunate Investor focuses on personal finance topics to build wealth. Topics include saving money, investing, managing debt, family and money, taxes, making money, college planning, starting a business, coupons and retirement.

SOCIAL MEDIA

FACEBOOK
TWITTER
PINTEREST
INSTAGRAM
YOUTUBE

Copyright © 2022 Fortunate Investor. All Rights Reserved. | Disclaimer & Disclosure | Privacy Policy | Terms of Service