My Favorite Investing Tips from the Experts

PeerFinance101 is about sharing your personal finance story so that everyone can learn together. No one-size-fits-all in meeting your financial goals so the idea is that read enough of other people’s stories and you’ll find what works for you. 

Here we covered the idea of finding your financial destination before setting out and how much risk you really need in your investments. 

Lessons Learned from a New Investor 

Alexa shares 5 Lessons She Learned as a New Investor on the College Investor blog. The five lessons are a great roundup that will get you started but Alexa’s best advice is what she leads off with, that getting started is half the battle. 

I see too many people put off investing, maybe waiting to pay off their debt or just keeping all their money in savings, and never end up investing. 

1. Investing is easier than you think You can open just about any of the online investing accounts with as little as $500 and most video tutorials to get you started.  

2. Don’t start with Penny Stocks – Alexa bought two penny stocks as her first investments. Learn from her mistake and stay away from the casinos of the stock market.    3. Watch for Fees Most online investing sites offer relatively low rates for purchases, around $10 to $15. 

An Investor's Commandments

Andrew offers an Introduction to Simple Investing and a list of Average Investor’s Commandments that make some great points. 1. Think long-term and understand that you don’t need to time the market.

2. Invest what you can afford – I see a lot of investors get overly enthusiastic about getting started and put every dime into their account. Put investing into your budget and treat it like a regular expense. 

3. Set it and Forget it – The buy-and-hold approach continues to be the best and easiest strategy for most investors. Don’t worry about timing the market and don’t worry about your portfolio’s value.

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