If you are planning an investment strategy, but don’t have the right information to make a wise decision, do a bit of research. There are several resources which offer great investing advice including newspapers, investment classes, and financial advisors.
Read Financial Magazines and Newspapers
Two financial magazines that offer useful investing advice include Kiplinger and Money Magazine. Kiplinger offers a list of 25 mutual funds to invest in each year and provides a comparison of how their picks perform against an equal portfolio of index funds. It’s a good place to start if you don’t know where to invest your money. Money Magazine provides profiles of everyday investors of all income levels. Their success stories are good examples to follow.
For analysis of the daily market and for stock quotes, refer to newspapers and their digital counterparts. The Wall Street Journal and Investor Business Daily provide trusted information. Their websites are equally useful.
Research Investing Tips Online
In addition to magazines and newspapers, you can research investing tips online. Use the search engine Google to find information about investing. Some of the queries to try include ‘Which Stocks Should I Buy?’ and ‘How Do You Invest In the Stock Market?’ Some of the websites to try include MarketWatch.com and Fool.com. Another resource is your smartphone. There are several apps that provide investing tips and stock market information.
Take a Formal Investing Class
The next step to educating yourself about investing is to take a class. Check out the local community college to see if they offer any investing or personal finance classes. You can also take an online course. There are several available that are informative and free. Here are five to choose from:
- Morningstar.com’s Investing Classroom
- TD Ameritrade Online Investing and Trading Courses
- Investopedia University
- iTunes U BUS123 – Introduction to Investments
- Rutgers Cooperative Extension – Investing for Your Future
Sign up for these courses and take them when you like. Most of them offer flexible schedules and plenty of time to complete each course.
Set-up a Meeting with a Financial Advisor
The best way to learn about the details of investing and the paperwork is to visit a financial advisor. Although, you can open a brokerage account online, the process might be a bit daunting. You still need to give personal information and have proof of income and other requirements. Set up an appointment or call the local office to speak with an advisor before opening an online brokerage account.
Inquire About Investing at Work
One more resource to try is your employer’s human resource office. See which stocks your company invests in for retirement savings and 401K investments. These are usually profitable and you could decide to divide more of your income to these investments.
These five resources provide sound information for new investors. Read about investing topics and research stocks before committing to a long-term investment. Speak with experienced financial advisors as well before deciding on an investment strategy.