Are you fairly new to investing? If so, you may want to consider these suggestions:
First, become familiar with the essential types of investments, such as stocks, bonds and mutual funds.
Next, set your goals. When do you want to retire? Will you help pay for your children’s college education? Once you’ve established your goals, you can create an appropriate investment strategy.
And keep investing. You may have to start out small, but you’ll get into the habit of putting money away, and when you earn more, you can boost your investments.
Here’s another suggestion: Don’t look for hot investments that can make you a lot of money in a short time. That’s not how real investing works – instead, it’s a decades-long process of carefully choosing, managing and adjusting a diversified portfolio that’s suitable for your individual needs.
Finally, you might want some help from a financial professional – someone who understands your goals and family situation and who can make appropriate investment recommendations.
By making the right moves right from the start, and getting the help you need, you can get on the right path to investment success.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisors, Brent D. Hoskinson and Linda Drake.