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Investment for Beginners: 5 Tips to Start Investing

Angus Claxton, December 23, 2019

5 tips to get started in the world of investment

1- Analyze your economic situation

It is the first step to start investing. What are our regular income? What are our usual expenses? These are some questions that can help us organize our economic situation investing in cryptocurrency.

Once we have created our “financial map”, we should ask ourselves about our plans: are we going to need the money we have saved shortly or, on the contrary, can we do without it for a long period of time? Do we have any significant expenses planned during the next months or even years? When? Here we could include buying a house, a vacation, investing in a business, etc. This point is important and will be decisive in establishing an adequate investment plan, since if we do not adapt our investment strategy to those planned capital outlays, it may be that when we need the money we cannot use it.

2- Establish a roadmap

Once our situation is analyzed, it is time to consider our objectives as future investors. Do we want to make all our savings or a part of them profitable? Are we willing to invest in unsecured products or do not want to risk a penny of our capital? How much risk are we willing to take? In any case, we cannot forget one thing: the higher the profitability, the greater the risk.

3- Determine how much money you want to invest

We have to ask ourselves how much money we want to start. Do not be alarmed: the investment is not reserved for the most bulky portfolios, we can acquire shares, subscribe investment funds or buy bonds for much less money than we think.

4- Learn about investment products

Perhaps this is the most important point of all. Before investing, we have to get acquainted with the “world”, get used to the terminology and know in depth the products. Investment funds, stocks, ETFs, derivatives, obligations, calls, puts … That technicalities do not overwhelm us, it is easier than it seems, you just need to inform yourself and understand the products.

We will be surprised by the amount of investment products that we have within our reach, there are them for all profiles: conservative, moderate, etc. A trick: diversify.  Thus, if an investment goes wrong, we can compensate it with the rest of the products that we have in our portfolio.

5- Let yourself be advised

Just like when we started a new project, we can ask for help, it is not a bad idea to let ourselves be advised by a professional in the sector who can help us take our first steps as investors. We have several options, one of them is to go to an independent advisor. The figure of the independent financial advisor is very established in countries such as the United States or the United Kingdom, where a very large number of individuals come to them to be guided. Its main advantage is that, since it does not depend on any bank, it does not have the obligation to respond to commercial strategies of any entity or to sell the products of a specific bank, but has access to thousands of investment products, both national and international, and We recommend the one that best suits our situation and not the one that forces you to sell the bank.

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