When it comes to investing, many first time investors want to jump right in with both feet. Unfortunately, very few of them are successful. It requires some degree of skill. It is important to remember that there is the risk of losing your money!
Before you jump right in, it is better to determine what your goals are. What do you hope to achieve? Will you be funding a college education? Buying a home? Retiring? Before you invest a single penny, really think about what you hope to achieve. Knowing what your goal is will help you make smarter decisions along the way!
Too often, people dream to become rich overnight. This is possible – but it is also rare. It is usually a very bad idea to start with hopes of becoming rich overnight. It is safer to put your money in such a way that it will grow slowly over time, and be used for retirement or a child’s education. However, if your goal is to get rich quick, you should learn as much about high-yield, short term instrument as you possibly can before you start.
Again, remember that investing requires more than calling a broker and telling them that you want to buy stocks or bonds. It takes a certain amount of research and knowledge about the market if you hope to success.
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