I am 30, and I feel I have very negligible savings.
I want to do better with my personal finances and learn to invest properly.
Can someone please suggest good resources to start with, for learning how to trade and make other investments.
I do Robinhood a little bit, but not regularly.
Thank you
TC: 100k
#personalfinance #investments
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comments
Buy high sell low.
I recommend follow akshath srivatsava in youtube. He give nice tips.
If you are looking to have fun actively trading, go for it but I'd hesitate to call that investing as it is often just speculation.
And if you want to be really lazy, go with a robo investor.
Buy and hold is the best strategy for long term. As long as you are not buying penny stocks and other speculative companies, it is hard to lose money over time following such a strategy. You can literally just buy SPY every month and you will have a solid profit after a few decades.
Yes, there is more money to be made by being more active in managing your positions and selecting more speculative investments. There is also an equal, if not greater chance to lose money investing like this as well.
It is very beneficial to forge habits of consistency and discipline in the start by investing using a buy and hold strategy. Once these habits are ingrained, you will find that allocating a minority percentage of your portfolio to speculative investments will be far more lucrative than if you started speculating in the beginning.
Also, it is highly advisable to stay away from margin and options in the start. Only invest with cash you own and stick to major companies with tangible goods and services which you can experience for yourself. There is a lot of BS and fraud on the internet, so take everything you read with a grain of salt. The only real information is what is in a company's financial disclosures, and some companies even lie in these documents as well. That is why investing in penny stocks and no-name companies with some random product that is not even for sale yet usually results in huge losses for so many amateurs.
Protect your funds and grow them slowly and steadily. Don't try to beat the market because there are many, many people and organizations with more knowledge, experience and resources than you and they will be happy to be on the winning side of the trade while you go bankrupt.
And yes, there are various risks beyond the ones you pointed out for this, and any other strategy under the sun. One of the first rules of investing is to never invest more than you are willing to lose. This varies from person to person, org to org, and once a strategy is implemented, it is simply a game of continuous risk management.
As I suggested, buying into a fund that tracks a large number of companies is one of the safest routes to take in the start. Diversifying a sub six figure portfolio is much different than diversifying a six figure portfolio which, in turn, is far simpler than diversifying seven and eight figure portfolios. Once you reach that range, it is usually more efficient to give your money to professionals to manage unless you have enough knowledge and time to dedicate to portfolio management.