Stock investments are a huge deal in almost every country and it is an interesting game to join as it can give you a lot of excitement and adrenaline rush whilst actually being a method for making money.
Stock investing can be difficult to get started as there are a lot of things that you need to be on top of before investing your money, and this means that a lot of people never come around to actually do it.
However, getting a sufficient amount of knowledge to get started investing in stock is not so hard. To ease your process of getting started, we have come up with three simple steps that you need to think through before getting started, so now you can start saving in stocks in just a few minutes (in Swedish).
1. Decide what kind of investment you want to make
There are numerous ways of making investments so before getting started, you need to consider what your intentions are and thus what methods are best for you. There is a more independent way of doing it where you pick out stocks and stock funds on your own and invest in them. This requires a good deal of knowledge, but it is also nice to have full responsibility yourself. You need to read up on all the stocks in order to know the different levels of returns, but if you are up for a challenge, go for it! There is also the option where you pay an expert for example in the bank to handle it all for you, and that is an option that is quite attractive for many beginners. Lastly, there is also a common wish to start investing in your employer. This is one of the most common ways for beginners to start investing. In many ways, it teaches new investors some of the most proven investing methods: making small contributions on a regular basis, focusing on the long-term and taking a hands-off approach.
2. Choose your investing account
Generally, when you start investing in stocks it is always good to have a set account for the money intended for purpose – an investment account or a brokerage account. A robo-advisor account is a good solution for the hands-on type of people who would like a little help getting started. An important point: Both brokers and robo-advisors allow you to open an account with very little money.
3. Learn the difference between investing in stocks and funds
Getting the basic knowledge about the stocks and funds on the market is essential in order to succeed with your investments.