If you think investing will mean lots of deprivation and no fun, this is not true. You will have to set aside some money to invest, but investing your cash does not mean that you need to risk your life savings. Here’s how to get started today.
Set a deadline. Start saving to invest today and decide that when you reach X amount you’ll start investing ($1000 is a good amount to start with, but you can invest with $100 to start, even). Then, decide on the exact deadline you will start investing. Circle the date on your calendar.
Visit the library and get at least three reputable books for the new investor (ask the librarian for recommendations if you need to). Read them before your deadline and take notes. Now you have the basics under your belt so that you can make investments.
Get support. Talk to someone in your bank or visit a financial professional for advice.
Write out an investment plan. Now that you have an idea of whether you want to invest in CDs, stocks, real estate or whatever you have decided to invest in, create a written plan. What will you invest in, when, and how much? How much do you expect to earn? How often will you review your investments?…