Hello Readers!
Yes I know, I’m late today… but as I like themed post days to help keep me on track, I’ve decided to make Tuesday’s dedicated to the fine art of investing. Mostly this will pertain to various ETFs I’ve been looking at, maybe an individual stock or two(please don’t take this as investment advice, I can’t speak for your suitability for any investment!), or just general tips. After all, investing is going to be an integral part of your money machine one way or the other. Whether your goal is to gear up your retirement, or looking to start out on a portfolio of your own, Tuesdays may be of import to you.
When I first started taking my babysteps into the world of investing and finance, there were a number of resources available that helped me along. Some were better than others (I watched CNBC non-stop, even when I wasn’t trading…in retrospect, there is an awful lot of stupidness that should be ignored on that channel.) Do me a favor, when you’re looking into investing, especially in individual stocks, do not pay attention to the day to day coming and goings of the market press. What you need is to find your personal style and tolerance for risk, and find the method of investing that suits that risk tolerance.
After all, you don’t want to be invested in an aggressive tech fund if you can’t handle the very real possibility that your shares could lose half their value in a given year. Conversely you don’t want to be investing into your high-yield savings account at ING if you are young and saving for a retirement that’s years off. Suitability plays a very important role in deciding where your investments should lie. Your first step in investing should be to find out where you sit on the scale of risk.
-Xias