Don’t fall into the trap of thinking that investing is reserved for the already rich.
We’d all like to have more money. But what exactly do you want it for, and how much are you going to need? Knowing the answers to these two questions is the foundation for building a solid financial strategy.
Once you know your financial goals, it should be pretty straightforward to figure out the kind of timeframe you need to be investing over.
The timeframe you decide on is one of the greatest determinants of how much risk you should take. For example, investing $100 in Bitcoin or Tesla shares is pretty risky if you know you’ll need to use that money in two weeks — maybe the market will just so happen to be experiencing a dip at that point, meaning you’ll lose money.
If you’re new to investing, you might find the idea of enlisting a professional to help you select your investments more appealing than having to do everything yourself.