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9 Ways To Teach Yourself Investing - What To Know
It’s not just those who grew up with a silver spoon in their mouth that can learn how to best invest their money.
Once you have a little money of your own, it’s a platform available to anybody.
But since the basics of investing is rarely covered by a high school curriculum, it’s something that you may have to learn for yourself if you have no one to guide you.
Investing can be particularly rewarding, and can take your financial health and wealth to the next level. But for those who are unfamiliar to the basics, it can be rather daunting or even intimidating.
But the good news is that there are several different tools and methods out there that can teach you everything you need to know to form your very own investment portfolio.
And the even better news is that I’m going to tell you about 9 of these methods, and you can then pick and choose which ones to use to get yourself to the level where you want to be.
And without further ado, let’s get straight into it.
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Hit The Books
This is probably the most obvious method of teaching yourself investing.
There are a plethora of books out there on the subject. And while each of them may offer valuable insights, you really don’t need to read that many of them to get started.
Here follows the titles, authors, and links to the top 5 books on investing that I would recommend that you read:
MONEY Master the Game: 7 Simple Steps to Financial Freedom by Tony Robbins
The Bogleheads' Guide to Investing by Mel Lindauer, Taylor Larimore, and Michael LeBoeuf
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Check Out An Investing Glossary
As you get deeper and deeper into learning about investing, you will find that there are acronyms and terms that will come up again and again.
So, it’s a good idea to familiarize yourself with the most frequently used terms, so that as you read through any material on investing, you understand exactly what is being said, and it’s not going straight over your head.
There are several investing glossaries you can access online, or you can download a PDF investing glossary that you can also access offline.
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Research Your Company’s Retirement Investing
If the company you work for provides you with a 401k, or even matches your own retirement investing, then be sure to read any emails or post that comes through.
You should receive details on how your 401k is doing on at least an annual basis in the form of an annual report.
What’s more, some companies also offer training sessions on your retirement plan that you can attend hosted by a representative.
To find out whether the company you work for offers this, simply get in touch with your human resources department.
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Follow Personal Finance Experts Online
Once you’ve familiarized yourself with some of the key terms in investing, I strongly recommend learning more about investing online.
To be honest, some of the investing information available on certain websites and blogs can actually be easier to understand and more valuable than information you may find in investment books.
This website (Paystub Creator) is an excellent place to start. There’s just so much covered here, and the blog posts are really easy to follow.
Other than that, you may wish to check out the following websites:
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Read Investment Fund Prospectuses
When an investment offering in a company is made to the public, the Securities and Exchange Commission (SEC) requires that a prospectus for that investment offering is filed with them.
This is a formal document designed to help investors to make more informed decisions. It will provide you with some background on the company, and provide financial information on the company, such as their costs, growth, and financial projections, and also on such matters as the number of shares available, and about the investment’s security.
Take An Online Investing Course
Another great way to learn more about investing, and this one is probably my favorite, is to take an online course in the subject.
There are loads of such courses out there, and you may find that many of them, particularly the ones aimed at beginners, are actually completely free of charge.
You could perhaps start off with one or two free courses for beginners, and when you feel ready to, you could take a more specialized course that will give you some really good tips.
Udemy is a good place to start.
Try Out Stock Stimulators
I just love this - I use it all the time. Basically, there are online tools called stock market simulators, where you can practice stock trading with virtual money. It’s usually free to join, and you don’t even have to pay a deposit.
Try Investing Small Amounts Of Money
Some people are inclined to wrongly assume that you need a great deal of money to start investing, but the truth is sometimes you can invest as little as $5 a time!
This is known as micro investing, and you can do it on apps such as Acorns or Stash.
Check Out Online Investing Forums
Once you’ve established a foundation of understanding of investing, you can explore specific markets, and really get down to the nitty-gritty. And that’s where online forums come in…
Any question you may have can be read, and you will often get a very good response, telling you everything you need to know. That’s assuming that no one’s asked already.
Wrap Up
So, there you have it, 9 ways to teach yourself investing. Choose your preferred method, or ideally choose several. And be sure to only do what you feel comfortable doing. Good luck!
