Want to start investing? Here are the first five steps to take.
Cover your expenses
Make sure your expenses and debts are low enough that you can comfortably pay them. Set aside enough money in your savings account to cover two to six months of expenses.
Make an investing plan. List your financial goals and how much time you have to reach them. (For more about setting financial and life goals, see the topic Getting Started.)
Determine how much risk you are comfortable taking.
Decide on the mix of investments you want to maintain in order to reach your goals.
Decide how much $
Determine how much money you will invest every month and make a commitment to follow-through.
Note: Always research before you invest. Base your decisions on facts, not emotions. Visit Web sites that offer investment information and news. Consider seeking guidance from investing professionals.
Always research investments before you buy.
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