Three Ways to Learn More About Investing
At first, the thought of learning how to invest can be overwhelming, but any adult, regardless of age or background, can learn how. Some hopeful investors might want to focus on the long term, which means they’d concentrate more on saving over long periods of time, perhaps for retirement or other long-term goals. Other people might enjoy investing as a hobby, buying and selling stocks regularly. There is no one right way to invest. Investing styles are as varied as the individuals who practice them.
But investing wisely does take time to learn and, like any other practice, requires some trial and error to gain proficiency. Regardless of your risk profile or your level of income, if you want to learn to invest, follow these three steps to start the process of learning more.
Know the Jargon
The best way to start learning about investing is to learn the terms. Many things won’t make sense until you know those basics. In fact, it might be the language itself that often turns people away: Those who are well versed in the industry vernacular tend to speak in their own tongue, which can be intimidating for beginners. Luckily, there are numerous resources available online — from a good financial glossary to some great investment articles — that can break down investment terminology in a way that everyone can understand. Take the time to learn the terms and the industry and you’ll give yourself an advantage, as well as a heightened comfort level.
Ask a Professional
If you are serious about learning to invest, a professional you can have confidence in will be an invaluable resource. Not only are they knowledgeable, it’s their job to help all investors, from the novice to the expert. Find a financial advisor who enjoys the process of teaching others about it, and you can learn a wealth of information. If you sit down with a professional but feel pressured or get the idea that they don’t have your best interest at heart, trust your instinct. There are many financial advisors and CERTIFIED FINANCIAL PLANNER™ professionals out there. The best financial advisors will be patient. They’ll be willing to teach you how to invest your money and eager to share investing basics that will help you embark on your wealth-building journey.
Take Advantage of Technology
In today’s tech-savvy marketplace, beginning your investment education can be as simple as downloading an app. You can begin your journey by exposing yourself to stock market trends. Get recommendations from financial advisors and then track the markets via your choice of apps, radio programs, blogs, or other news sources.
Ultimately, investing requires knowledge, practical decision-making skills, and a little luck. But if you take the time to educate yourself and carefully choose a financial advisor who is willing to help you learn, you can put yourself on the path to becoming a knowledgeable investor.
* Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ("CFS"), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. UFCU has contracted with CFS to make non-deposit investment products and services available to credit union members.
Was this article helpful?
Thank you for your feedback.