How to Make Your Very First Stock Investment
Why you should be investing
Understanding different investment vehicles
ETFs (Exchange-traded funds)
Robo-advisers to consider
- An excellent way to build wealth. Compound interest over time combined with high annual returns makes the stock market the single most powerful wealth-building tool at your disposal.
- Plenty of options to fit investing strategy. From individual stocks to mutual funds or ETFs, there are a variety of investment vehicles to meet the needs and goals of pretty much any investor.
- Easy to get started. The stock market might seem daunting, but thanks to online brokers streamlining the process of setting up your account, it’s much simpler to get started investing than 20 or 30 years ago.
- Some expense ratios might harm your earnings. If you aren’t careful, you may have expense ratios or commissions cut into your earnings. While a commission of only 2% may seem harmless when you consider that you’ll someday need a portfolio of roughly $1,000,000 in order to retire, that 2% could cost you $20,000.
- Investing takes time. While people like to talk about investing as a way to get rich quick, in order to invest in a sustainable manner, you need years of consistency in order to build wealth. While it’s not impossible to make money short-selling stocks or day trading, the most surefire path to portfolio growth takes time.
The bottom line
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