Becoming a Better Investor in 2021

Thinking about expanding your investments and don't know where to start? Look no further! Read below for a layout that describes the steps you need to take to become a better investor in 2021. 

Step 1: Defining Your Investing Goals 

The key to investing is to define your goals, your investing style, and getting started.

Investing should be fun & profitable.

Understanding financial information is an important part of building wealth.

Every investor should create a monthly budget to understand how much money they are earning and spending.

The first step in building a solid financial future is to pay off all loans.

The second step is to start saving in a retirement plan (IRA or 401K).

The third step is to create a reserve fund with money that you may need for unanticipated events.

The fourth step is to set a goal of how much money you can save.

The fifth step is to learn to be a good investor. 

 

Exercise: Create a monthly budget of how much you earn, spend, and save.

 

Your Financial Review List

https://communications.fidelity.com/tem/WI/webcast/hub/?ccsource=em_Q221_FTDL_C3_042721#financialtodos

Great Links On Investing

https://www.fool.com/investing/general/2013/09/12/43-thoughts-about-investing-and-the-economy.aspx

https://www.fool.com/investing/general/2012/12/13/10-amazing-investment-quotes-youve-probably-never.aspx 

https://putanumonit.com/2017/02/10/get-rich-slowly/ 

 

Step 2: Learning to be a good investor

The best way to make money investing is to invest in good companies for the long term.

Create an investment account at Fidelity or Robinhood or another broker/investment firm.

All investments involve risk & reward.

Start by researching industries & companies that you are familiar with and with products you use.

An investment advisor can help you become a better investor.

3 things you can do to learn about investing:

1) Concentrate on a few companies

2) Read everything you can about the economy, the industry, and the company 

3) Ask questions on things that you don’t understand

There are different types and kinds of investors - you need to find a style that fits your risk-reward profile.

 

Common investing terms: 

https://www.thebalance.com/investing-terms-you-should-know-356338

Growth Stocks vs. Value Stocks

https://www.merrilledge.com/article/growth-vs-value-investing-two-approaches-to-stocks#

What is a stock dividend?

https://www.investopedia.com/terms/s/stockdividend.asp

Great links to articles on becoming a good investor

https://www.investopedia.com/articles/basics/06/invest1000.asp 

https://www.nerdwallet.com/article/investing/how-to-start-investing 

https://www.fool.com/investing/general/the-100-things-ive-learned-in-investing/

https://seekingalpha.com/article/4418152-how-many-stocks-should-you-own 

https://www.fool.com/investing/general/2012/11/14/50-unfortunate-truths-about-investing.aspx

https://www.fool.com/investing/general/2012/09/11/roundtable-the-best-investment-advice-you-ever-got.aspx

https://www.moneyunder30.com/start-investing-with-little-money 

 

Links to improve your investing knowledge

https://www.fool.com/

https://seekingalpha.com/

https://robinhood.com/us/en/

https://www.fidelity.com/

Dan Tyre

Written by Dan Tyre

Dan Tyre is an authority on inbound marketing and sales and has become a regular public speaker, blog writer, mentor, and coach for those who want to harness of the power of inbound marketing to improve their bottom line. He joined HubSpot as a member of the original team in May of 2007 as the first salesperson for the company. Since then, Dan has held various positions in sales, sales management, recruiting, training, and expansion of the HubSpot sales team.

Subscribe Here!