This week’s video is about how to successfully start investing in the stock market following these simple steps. Watch my video above to gain some insight on what these simple steps are and how to achieve them.
3 First Steps to Start Stocks Investments:
1.Start building your knowledge
Make sure you don’t put all your money in one single stock
2.Open a Broker Account
Lowest fees, allows to invest in multiple markets
3.Start investing with ETF then stock picking
Exchange traded fund, ETF is like a basket of stocks that you can invest together in
Step 1: How to build your knowledge
A big misconception is that you need to spend years learning to start investing, this isn’t true but I don’t recommend that you don’t know anything and then go invest your money. It is important that you have foundational and basic knowledge before you start and these recommendations can help you achieve that.
5 things I would recommend:
Here is a list of life changing books that I recommend everyone to read for general and stock investments
You can visit our website wealthheights.com for many articles regarding investment as well as:
Listen to Bloomberg and CNBC
Step 2: Open a Broker Account
Here are 3 broker accounts that I personally used in the past:
The one I am currently using is the interactivebrokers.com. It’s an amazing broker that covers hundreds of markets, 26 currencies at very low fees and many educational materials and research for free, also the cost of currencies transaction is extremely low.
Step 3: Start Investing
There are many people who wait for so long because of fear, but once you think you’ve got the basics and you understand how it works, start investing! Start investing in small amounts and then gradually increase. Even if you have a lot of money you want to invest, don’t put it all in one go, put a bit every month. And start with ETF which will help reduce risk (an exchange traded fund, a basket of companies that you can buy together). You can read more about it on etf.com
3 examples of simple ETF to start with:
SPY – S&P 500 (The biggest 500 companies in the U.S. e.g. Apple, Amazon, Microsoft etc.) you can buy them altogether with one ticker SPY
DIA – Biggest 30 companies in the U.S.
QQQ – if you are interested in technology companies (Nasdaq Index)
Act today and book one of Wealth Heights’ courses or if you still have some questions, please leave a comment below so I can answer your inquiries or don’t hesitate to send me an email at firstname.lastname@example.org
All the best