227 National Financial Literacy Month - Day 20 -Intricacies of The Stock Market & You

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Like many things in life if you do not study, research, or
experience things, it can be intimidating and yes, experience is
the best teacher. Investing in stocks can be intimidating if you
have never done it before and do not expect overnight success
when it comes to investing in the stock market.


One must be risk-averse when it comes to investing in the stock
market. But you will most certainly know people who’ve become
incredibly prosperous, or even rich, by doing it but they likely
did so over the course of the long run.


You will never increase and grow your money by keeping it in a
savings account, money responds to movement in the stock market,
it is dynamic and if you want to outpace inflation you will need
investments that yield more than inflation rates during this
inflationary cycle.


Different Types of Stock Investment Platforms:
Online Brokers/Apps people can use (discount
brokers)Traditional Investment Advisors (investment management
professionals)Robo-Advisors (similar to investment management
professional/less fees)

Hire a financial advisor and stockbroker, brokerage firm to
assist you with investing in the stock market:


You have a choice to make, perhaps start with a robo-advisor
since they spread your money across several different ETFs, then
provide full portfolio management for you. All you need to do is
fund your account.


If you are new to investing in the stock market, after starting
out with a robo-advisor, consider starting an account with an
online broker. The idea is to use the robo-advisor as your
primary investment vehicle, while gradually transitioning into
self-directed investing.


Give consideration to splitting your investments between a
taxable brokerage account, and a tax-sheltered account. The
taxable account can be used to invest for intermediate goals,
like purchasing a house. The retirement account provides
tax-deferred investment income, that will enable your portfolio
to grow more quickly.


It is important to keep debt to a minimum. Why? The interest you
pay on debt is often higher than what you can earn on your
investments. It will do little good to invest money at 10%, while
you’re paying 20% or more on credit cards. Work to become
debt-free.