Items you will need
- Financial newspapers
- Financial websites
- Spreadsheet program
Whether you are just getting started in your career or getting ready to retire, it is important to invest your money wisely. The nest egg you build during your working years will help to sustain you in retirement, so workers need to save money where they can and invest that many properly. Learning as much as you can about investing will help you make the most of your money and help your funds grow.
Subscribe to a financial newspaper like the Wall Street Journal or Barrons. Reading these publications regularly will help you become an educated investor.
Check your favorite financial websites on a regular basis as well. Sites like CNN Money and Yahoo! Finance provide a great deal of information for both new investors and experienced ones.
Consider investing in a widely diversified stock mutual fund instead of trying to choose individual stocks. It can be difficult for even professional investors to choose winning stocks, and most investors do not do as well as the market overall. Investing in a mutual fund that tracks the S&P 500 or Russell 3000 index spreads the risk around and eliminates the risk of under-performance.
Seek the advice of a fee only financial planner if you feel you need help with your investments. Fee only investment planners are not compensated for the investments they recommend--instead they are paid directly by their customers. Make sure the investment adviser you choose is strictly a fee only advisor (See the Resources section for more information.)
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