BUSINESS CENTS
focus on stock trends and predictions, and take notes on how world events or social issues affect market prices. Don't rely on the experts to do the work for you; one of the best investments you can make is in educating yourself. You might not become an expert on economics, but you will have a better understanding of how investing works. In a worst-case scenario, your financial education could also translate into a job opportunity.
10. Diversify Your Portfolio
Now that you've invested in the stock market, you'll want to make sure that you're not at the mercy of market volatility. This means that your investments aren't limited to one type of asset, such as stocks in only one company or industry. Unless you
stocks easy and understandable. If you work for a corporation that grants shares as a benefit of employment, you've already got one foot in the door. Call the investment firm your employer works with and speak with a representative about how to manage your investment. Some companies like Fidelity offer complimentary investment courses and seminars, so be sure to check their website for helpful tools. While some investment firms charge a commission, they come with the benefit of professional advice.
9. Educate Yourself on Finance
While there are professionals out there to guide you in your financial journey, you should still keep up with the financial news of the day. Look for articles that
diversify your portfolio, a metaphorical basket of financial assets, you risk losing your total investment if the company or industry in question falls. Even worse, if you're employed by the same company, you could lose your income as well as your savings. Consult with a financial planner for a diversification strategy, and spread your holding out to include bonds, short-term investments, and other funds.
11. Focus on the Big Picture
Preparing emergency savings and paying off debts is sound advice, but