Investing can be a confusing and daunting phenomenon for newcomers to the market. In order to help, GETO will offer some investment advice for beginners in this article.
The first thing that you should know when you want to start investing is what your goals are. Your goal may be to save for retirement, send your kids off to college, take time off from work in order to raise a family, travel the world, buy that MacBook, or something else entirely.
Whatever the case may be, your goal will dictate how much risk you should take with your investments and also when you should cash out investments when they reach their target goal.
For example: if your goal is retirement but you’re young and have plenty of time on your side then riskier assets like stocks might be more appropriate than saving accounts or bonds which could provide a higher balance
Here are some of the do’s and don’t for all the first time investors out there
Do’s
- Before investing, do a handful of research and then invest the money into stocks, mutual funds or into any investments and be very careful with it. There are a lot of sources where you can get the information such as GETO, it is one such platform where you can get investing advice.
- Do start your investments early which helps in future.
- Have an investment goal. Set up a goal like 15crors in next 15years or plan your retirement fund to keep you motivated.
- Have patience because in stocks it atleast takes 2–3 years to get a good return, so go not panic and sell your stocks early.
- Get email notes or the financial state of your investments to keep track of it.
Don’t
- Don’t pay more than 2% to the financial advisers. You can also take up the masterclass with GETO for free of cost.
- Don’t use your money in the wrong way, such as gambling or cards. It is a bad idea to invest your money.
- Don’t wait for any miracle to happen in your life. In compound interest, you can earn more by investing less and hit a higher road.
- Don’t invest in risky markets or stocks, if you are not emotionally strong because things can go wrong sometimes.
- Don’t get greedy because it is important to know your winning and losing of your stocks. Don’t get greedy and keep losing money.
The biggest problem when investing money is that people forget about the consequences of their decisions.
If you want to invest your money in any stocks or shares , you should always keep in mind that you’re not just playing a game: you’re risking your money and your time.
If you’re starting without experience in the field, you should learn about how the market works and the consequences of your decisions.
We advise you to start small, and to choose a few projects that you believe in. In this way, you can see how things go and learn from your mistakes. We hope this blog has been useful to you, and if you have any questions, please contact us at www.getoapp.com or let us know in the comment section below.
