Hey, you! Yes, you. Have you started investing your money yet?
If you’re like Half of Americans don’t invest anything at all, your answer may be a sheepish “no.”
Well, it’s time to start. To help you, Lou Carlozo offers 10 Tips To Help You Start Investing in a post for Money Under 30.
Don’t let fear or lack of knowledge hold you back — because, as Carlozo points out: “Investing is scary, but not investing is scarier.”
How to Start Investing Today
Though you should check out the 10 Tips To Help You Start Investing for all 10 steps, we’ll highlight some of our favorite tips below:
Just Do It
As with many things, the hardest part about investing is taking that first step. So quit making excuses and just do it.
“The longer money remains invested, the more potential it has to compound and grow,” Carlozo says. “So get started, then get it right later.” He suggests using Acorns, an app that automatically invests your spare change.
Learn the Lay of the Land
Though learning some basic investment terms is a great idea, we like how Carlozo underscores that you don’t have to become an expert. Too many of us think we’ll never know “enough” about investing — so we don’t learn anything. A good place to start is Money Under 30’s How to Invest Well: Simple Advice for Beginner And Intermediate Investors.
Use a Robo-Adviser
If you’re just starting out and are strapped for time and knowledge, don’t bother picking individual stocks. Try Betterment, an online tool that lets you invest in a diverse array of stocks and mutual funds — without the fees.
Invest In What You Understand
Don’t start investing in gold or soybeans unless you know the industries. As Carlozo says, “Ignorance is never bliss when you pick an investment category.”
Your Turn: Have you started investing yet? What’s standing in your way?
Susan Shain (@Susan_Shain) is a freelance writer and travel blogger who loves helping you find adventure on a budget.