Maybe you want to start investing, but maybe you’re scared. After all, there aren’t many Investing 101 classes out there for the average adult. Sometimes investing terms can be difficult to understand, and although all of that jargon hardly feels like Investing 101, it is possible to learn it.
Here’s my advice for getting your feet wet when it comes to investing, and don’t worry. It’s easy once you get the hang of it.
1. Read, Read, Read
It seems obvious, but it’s true. One of the best ways to learn anything is by reading. Reading helps you soak up knowledge, and the more you read about investing especially, the easier it is to recognize investing terminology and start to apply it to your everyday life.
When it comes to investing books, I would diversify. Start by reading personal stories of successful investors, like Warren Buffett and John Bogle, and learn what they did to grow their wealth and succeed. These books are typically inspiring and will make you want to learn more about their techniques. Then, you can move on to more technical books that give specific advice about various investment vehicles.
2. Share Your Journey
When you start something new, especially something like investing, it’s great to get together a support network. Gather a few friends who can learn along with you. Start your own Investing 101 class. Create a blog where you share your journey with the world. Ask people to keep you accountable. Surround yourself with people who share your values and your goals in life. If you know someone who is a successful investor, ask to have lunch with them. Try to soak up any advice or knowledge you can from people who know investing well.
3. Go Shopping
I’m not kidding about this one. First of all, when you shop, you can learn about different companies and brands. You can see how different businesses market themselves and their products. You can test things out to see if their products are quality or if different businesses stick to ethical practices in which you believe. When you shop or act as a consumer in any way, whether you buy stock in your athletic club or in your favorite restaurant, you are becoming part of something bigger than yourself.
You can also use tools like Wherewithal when you are shopping online. By shopping through our portal, you can earn cash back, which we can then take and invest for you. It’s the simplest way to get started, because you get to keep doing what you’re already doing and invest all at the same time.
All in all, creating your own Investing 101 class can be as simple as opening up a newspaper, talking to a trusted friend, or shopping for products you were already planning on buying. The thing is, investing doesn’t have to be complicated, lofty, or difficult to do. All it takes is a little bit of interest, a little bit of reading, and a lot of patience to learn what you need to know to take your personal wealth to the next level.
Do you want to start Investing 101?