One of my favorite sayings is “make your money work for you.” Just think about it, if you have money sitting in your savings account, you are missing out on the opportunity to grow that money through investing. If I asked you if you would rather have $1 today or $10 tomorrow, I am sure you would choose the second option. I am a huge proponent in investing your money early and that is why I am providing you with a guide to investing for beginners. Your older self will thank you for it. It can help you save for retirement, college education for your children, a home improvement project, and more. So don’t wait next year or the year after that, it is time to start investing today!
How to invest in stocks
One of the most popular ways to invest is to invest in stocks. Investing in stocks can be a challenging subject. There is so much that goes into it, but I am going to provide you with the easiest way possible to get started. If you want a more in depth guide to investing in stocks, subscribe to my newsletter (that blog post will be coming soon) and I will let you know when it is live!
- Find a brokerage account: My favorite is Robinhood and you can use this link to download the app and you will get a free share of stock! I love Robinhood because it is easy to transfer funds into your account, there are no fees, and the layout of the app makes it very easy to navigate. I think it is the perfect place to start for beginner investors!
- Think about your investment goals: How much do you want to invest? I would recommend beginning with a small amount to get started. How much risk do you want to take on? After you have thought about these questions, it is time to choose your stocks.
- Choose your stocks: This step is going to take a little research. If you know nothing about stocks, I would recommend doing a quick google search to find what stocks you should buy. For example: search “best stocks to buy for 2021.” When I searched that, I came across this great article that talks about 3 stocks to buy for the second half of 2021 and why you should buy them.
- Purchase your stocks: Go to whichever brokerage account you chose and buy some stocks! You can buy however many shares you want, but I would recommend starting out with a few shares. Robinhood even lets you invest a dollar amount instead of purchasing an entire share!
- Manage your account: Be sure to check your stocks every week to ensure that you are not losing money from them.
Now I know that this might appear scary, but I encourage you to start small and do your research. Make sure to subscribe to my newsletter so you know when my “Guide to Investing in Stocks” is live on the blog.
Find a financial advisor
If you’re like “Casey, investing in stocks sounds like a good idea, but I am not ready to take that route,” then finding a financial advisor is the perfect option for you. It is very easy to get started with a financial advisor. You can find an advisor through financial advisory firms such as Edward Jones or Northwestern Mutual. They will sit down with you, discuss your investment goals, and invest your money for you. While they do take a small fee in return for their services, I 100% think it is worth it. You can ask your family and friends in your area if they have any recommendations for financial advisors.
Invest in Real Estate
One of my majors in college was (commercial) real estate. I got to learn so much about investing in it and it is a great way to make some extra money. There are many ways you can invest in real estate. You can buy a house and rent it out or make it into an Air BNB, you can buy a fixer upper and sell it, or you can invest in a REIT. A REIT is the best option for you if you do not have a large amount of cash to invest in a house, but you still want to invest in real estate. A REIT stands for “Real Estate Investment Trust.” You can read more about what they are and how to invest in them here.
Time to use your guide to investing for beginners!
I hope this guide helps you in your new investing endeavor! I promise you that you will not regret your decision to invest. Do not start tomorrow, do not start a year from now, start today! Make sure to comment what choice you are going with.
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You may also like some of my other blog posts: “Summer Essentials Roundup,” “5 Tips for a Zoom Interview,” “4 Resume Tips That Will Land You a Job.”
Staying styled, southern, and sweet-
Casey
