We all need advice at different points in our lives. When it comes to investing this is no different. Investing for many people is very challenging as it is filled with jargon and with so much information that changes rapidly, it is hard for many to keep up. So this leads to the question of where is the best place to find investment advice or get education on investing.
- You should start by finding reputable sources that cover the basics
The first thing you should do is learn the basics well. Many reputable sources cover the basics of investing including fundamental and technical analysis. This includes the brokerage site that you are using. These basics apply to most types of investing. Because investing has so many formulas and key definitions there are also infographics online at many different websites that cover these differences.
2. Learn about economics as a whole
Economic forces shape the stock market as a whole whether you are investing for growth, dividends, or day trading. Understanding the macro forces of the economy is important. Things like interest rates shape investor sentiment and this can affect share prices. Like the stock market the basics of economics are very well covered across numerous sources spanning college websites to organizations focused on economics.
3. Advancing your learning
The tricky part comes after you learn the basics. When you are looking for a strategy to utilize, it can be hard to tell what the best one is. A helpful way to go about evaluating which direction to go is to look at the pros and cons. Online you will find influencers who push one way or another, and its important to recognize and judge the content appropriately. Investing strategies are complex and its important to recognize that channels you are learning from may not be able to deliver the education in the most effective way possible. A 1 minute or even a 10 minute video won’t be able to always effectively explain different investing concepts.
4. Learn a little about every strategy
You should strive to learn about the pros and cons about as many strategies as possible. This will help give you a more well rounded view of investing strategies and knowledge. Not every strategy works well for everyone so its important to continue to educate yourself so that you can make changes as needed.
Investing isn’t always easy to learn. But the important thing is to learn how to learn. Doing this will help you make informed choices as well as how to get the most out of your investing.