How to start investing in eight steps

Julie Brownlee, Fsp Invest, 18 Mar. 2015

Tags: investing, how to start investing, beginners guide to investing, how to invest, investing for dummies,

If you want to put your money to work on the stock market, it can be difficult to know where to begin.

It’s not a case of picking a share at random, investing and hoping for the best.

So how should you prepare?

Read on to find out…

The beginners guide to investing

If you want to gain financial independence by putting your money to work by investing, follow this eight-step guide to get you started…

Step #1:
Before you start dreaming about stock market riches, you need to conduct a thorough analysis of your current financial position. Can you afford to lock money into shares for the next few years?

Step #2:
Once you know your financial position, you can set specific financial goals and objectives. Break these down into short-term and long-term goals.

Step #3:
Decide how much money you’re going to invest in shares. You need at least R10,000 to get started. Make sure you include this as part of your financial plan.

Step #4:
If you don’t have enough money to start investing now, start saving. Put aside some money every month for your investment account.

Step #5:
Once you’re in a financial position to invest, find a stock broker that meets your requirements and open an account.

Step #6:
Start researching. Make sure you’re reading the financial pages in the newspapers or financial websites to find out what’s going on in the markets.

Step #7:
Before you start putting your own cash into shares, you can paper trade. This gives you a chance to see how your investment strategy performs.

Step #8:
Buy your first share! This is your first step towards building your investment portfolio.

So there you have it, how to start investing in eight steps.

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