Skip to main content

5 Expert Tips To Follow Before You Start Investing In 2023

 

Want To Start Investing? 5 Expert Tips To Follow Before You Begin





(BPT) - If you’re interested in getting started with investing but you’re not sure what your first steps should be, you’re not alone. A recent survey by Magnifi found that one-third of Americans are planning to invest by themselves in 2023, but even though they want to invest on their own, nearly half of them (41%) don’t think they have the knowledge or confidence — and another one-fourth of them (27%) don’t even know where to begin. Today’s investors want independence to invest on their own, and the control to find and pick investments that are most important to them, but ultimately need personalized guidance so they’re not left guessing and gambling.

Fortunately, now it’s easier than ever to build a personalized investing plan and become a well-informed, confident investor backed by an investing assistant.

Here are some tips — and tools — to help you get started with investing this year.

1. Don’t be afraid to get started. Start small, with an investment that allows you to get a feel for the process of investing. Most brokerages offer fractional shares, which lets you dip your toe in when you’re just beginning. You can always add more investments as you further develop your plan and determine how much you want to invest over time.

2. Aim for diversification. This simply means not putting all your eggs in one investment basket. The truth is, diversification is easier than you may realize. You can accomplish this by buying a fund that holds a stock you’re interested in (as well as other investments) instead of just buying that single stock — or by adding a bond fund that will add fixed income and offset risk from equities investments. With an investment search engine, it can be easy to find a variety of investments and all the details about each investment to help you determine if it matches your goals.

3. Make a plan. Too often, investors will make one single purchase and never come back. Having an actual plan before getting started helps you determine how much you want to invest overall, and allows you to develop your strategy to invest regularly over time to take advantage of dollar cost averaging. Your plan can also help ensure that you’re investing in things that represent you and your priorities.

4. Invest in what you believe in. As you begin to realize how much more you can invest in, you might be surprised to find how easy it is to find investments that represent your personal values, such as social responsibility, and/or your interests (everything from electric vehicles to nanotechnology). The great thing about many modern online investing marketplaces is that you can find anything you want quickly, and even have fun investing.

5. Lean on technology. Thanks to the explosion of technology, you suddenly have the opportunity to make more informed — and more personalized — investing decisions. Now you can buy investments like you buy everything else, with the power of technology to make it simpler and quicker, as well as a better fit to your individual priorities.




Using the Magnifi app, for example, you can individually invest in strategies, ideas and values that are unique and important to you — using data, insights and market intelligence that will help you make more informed decisions to achieve your financial goals. If 2023 is the year you plan to make investing a serious part of your financial future, try AI-assisted investing from Magnifi Personal. This technology lets you speak with the app's first-of-its-kind AI investing assistant, which uses cutting-edge technology to offer access to intelligence, education and guidance. The investing assistant uses robust "conversational AI," so investing and getting answers about investing questions is as simple as texting. It’s like having an investing assistant on-call in your pocket at all times.

Excited to get started? Visit Magnifi.com/personal to learn more.

Comments

Post a Comment

Popular posts from this blog

Fall Into Fitness To Improve Balance And Mobility

  Fall Into Fitness To Improve Balance And Mobility (BPT) - Falling is a common concern among seniors, particularly as a fall has the potential to be more devastating for an older adult than the small scrape or bruise many might expect. While Fall Prevention Awareness Month is in September, it’s always a good time to learn more about these very real risks and ways to reduce them. A simple step like joining a senior fitness program can significantly reduce the impact of falls or even prevent them entirely. Not only are these programs effective, but as members will tell you, they’re lots of fun, and you may already be eligible to participate. SilverSneakers, the nation’s leading fitness program for older adults, is available to more than 18 million Americans through select Medicare plans. The gravity of falls Falls have been a fact of life for each of us, ever since we took our first steps as infants. While often embarrassing and sometimes painful, as we get older, they may beco...
Post a Comment
Read more

How To Start A Business Guide

 How To Start A Business Guide Starting a business can be an exciting and rewarding endeavor. To help you navigate the process, here is a step-by-step guide on how to start a business: 1. Refine Your Business Idea: Identify a product or service that you are passionate about and that fills a market need. Conduct market research to understand your target audience, competition, and potential demand for your offerings. 2. Create a Business Plan: Develop a comprehensive business plan that outlines your mission, goals, target market, marketing strategy, financial projections, and operational details. A solid business plan will serve as your roadmap and help you secure funding if needed. 3. Determine Your Business Structure: Decide on the legal structure of your business. The most common options include sole proprietorship, partnership, limited liability company (LLC), or corporation. Each structure has its own advantages and implications for taxation and liability, so consult with a lega...
Post a Comment
Read more

**Enhance Your Relationships: Practicing Mindful Communication**

**Enhance Your Relationships: Practicing Mindful Communication** *Once upon a time*, in a bustling kingdom called Communicationville, there lived a wise old sage named Master Zen-Tongue. He possessed the secret to harmonious relationships and the art of mindful communication. Legend has it that his words were so powerful; they could melt even the coldest hearts. Gather 'round, dear readers, as we embark on a journey through the enchanted forest of communication, where humor and emotion-driven storytelling await! **1. The Mysterious Language of Eye Contact** Master Zen-Tongue taught a curious young traveler the first secret of mindful communication: the magical spell of Eye Contact. "Engage the windows to your soul, young one," he chuckled, "for the dance of gazes can create connections beyond words." The young traveler blinked in surprise, realizing the power of silent understanding that lay within the depths of the eyes. **2. The Tale of the Magic Pause** In th...
Post a Comment
Read more