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.
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.
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.
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.
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.