Here’s a situation that myself and peers are in right now, given that we graduated 1-3 years ago and have some money to spare. We want to save and invest… so, the big question is, how do you start?
Disclaimer: I am not responsible for your loss or headaches (but you can share gains with me, haha :D). Seek professional financial advice if you really need it.
Being an investor is all about the risk you want to take. How fearful of you of losing money? Have you ever went to a casino and sat down at a card table game and lost? Did you feel bad or did you think you could try again to win?
The simplest things you can do to invest your money is to:
- Open a savings or CD account
- Put money into your company’s retirement account
- Open a separate retirement account
- Buy equities (or stocks)
- Buy life insurance
- Start an education savings fund
Keep in mind that there are many many investments outside of this list that I do not know (since it’s outside of my risk profile).