How To Start Investing
How to Start Investing
The biggest question is asked most frequently is how does one get started investing? If you ask some people, you may get surprising answers. There are people who are afraid to invest because they read so much about investing.
The problem is that if you do not know about investing, it can be confusing. With so many different investment vehicles around, it is hard to choose which one to get involved in.
Although, there are many investment vehicles, you do not have to go overboard and invest in everything at the beginning. All you need to do is begin with one, two, or three investment types.
A word of warning: Make sure you have your bills taken care of before you start. This is because you will be taking a certain percentage of your money you make, and placing it in your investments. This is why you need to be as debt free as possible.
Im not saying you cant have any bills. You will have credit card debt. You may have a mortgage. You may even have a car payment. Just try not to go beyond that.
When you start investing, the best way to do it is to arrange for a percentage to come from your paycheck. You can set up your investments by either having money taken from your paycheck automatically, or just remember, when you get paid, and when you deposit your paycheck, to have the percentage you agreed to, taken out and applied to your accounts.
As for the type of investment, that will depend on what you want to invest in. If you want to invest in the long-term, you will want to look into investment that you can pay into and that will grow over time, with interest, if possible.
The investment you choose will determine what amount of money you will need. If you decide to go with stocks, they will usually be the preferred investment type. So when you get paid, you will go for that as the main investment vehicle.
Melinda Lauper
www.safeinvestmentsfordummies.com
by: juanfuentes02
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