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Dear Olga: Investing for Beginners

Dear Olga,

I know very little on the markets and how to evaluate stocks, please halp!


Investing Beginner


Dear Investing Beginner,

It's great that you're starting to explore investments! Diversifying your streams of income is a great way to set yourself on a path to financial independence.

First, decide what you can invest: for example, do you have a set amount that you'd like to put directly into the stock market or do you want to start small and get your feel for the market before you jump in feet first?

If you're looking to start small, consider apps like Stash and RobinHood that make investing possible for practically anyone. Some people set a small amount that they invest per paycheck, others add a fixed amount once a month. Think about what would work for you best to start, you can always make changes as time goes on and you figure things out.

If you have a larger amount, shop around with investment banks. If you can have someone advise you, that could be ideal because there is a lot of research involved. A good place to start is to look at banks that you already work with, perhaps the bank you have your 401k or IRA account with.

Whether you decide to go in with a large amount or start small, the key is to make sure that it's what you're comfortable with and makes sense with your goals.

The second thing to decide: do you want this investment to add some extra spending cash or do you want it to be for long-term investments that you can use in the future? Depending on what you're trying to accomplish, look for stocks that fall in line with your goals. There are stocks that will bring income right away that or there are those that will bring long-term returns, it's important to weigh the risks involved here.

Most importantly, before opening a new account make sure you understand the minimum balances required to maintain your account and the fees involved. It would be a shame for you to pay to experiment with investing your first time around.

Remember, everyone had to start somewhere 😉 You have to start to see how your stocks perform and what the right strategy is for you. Pick a handful to start with and see how they are performing currently. Keep on top of the market trends and watch how your stocks are performing. To start you want to buy at a lower price so that as the stock appreciates in value, you'll have more profit whenever you choose to sell.

Although this is just one of the possibilities as to how things play out on the market, how to make money when investing in stock, and this may not be the ideal advice for you depending on what you're trying to accomplish. Make sure to speak to an expert who can guide you if you're unsure of the best strategy for you.

Don' have an expert, I'd be happy to refer you to someone in my network, I'm happy to hop on a quick call with you. Here's a link to my calendar! 🗓 No pressure to sign on as a client, just a short call to give you a few practical and actionable tips to help you find your path to financial independence.

Good luck!



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