- The first step to becoming an investor is choosing a broker-dealer and filling out the necessary paperwork.
- Before choosing your account type and creating an asset allocation plan, first take stock of your current situation — your age is likely to affect the amount of risk you are able to take with your investments.
- Finally, select the funds you would like to invest in and wait patiently to see results.
One of the questions I’m most frequently asked has to do with what’s needed to begin investing. Some folks want to know how much money they need to begin. Others have a strong desire to buy a few stocks they heard about. And then there are people who have spent a long time thinking about getting underway, but never had the courage to take any steps in that direction.
The process of getting started in investing is simple and straightforward. It’s a matter of filling out some basic forms, having funds available to move into the investment account, deciding what to buy, and then turning that decision into action. The logistics are easy. What’s more difficult is developing the discipline to create and follow an asset allocation plan that will best serve your needs.See the rest of the story at Business Insider
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