New to Investing

[fumanshoee]

Im 23 years old and I'm new to investing and looking for any tips, or advise. I started a 401k with my new job and started looking into investing in stocks.

 

[REWahoo]

I'd advise you to start with this excellent online investing guide: Road Map for Investing Success | An Investing Primer

 

[Midpack]

REW has given you a good primer. If you want more, same investing philosophy:

Bogleheads

Investment Books

It takes some work to learn, but it's not that difficult if you invest for the long term and you devote as much time to the discipline of investing (understanding market history/behavior). Where people get in trouble is just relying on "tips, or advice" (brother-in-law, friends), thinking they can pick winning stocks/brokers (about 95%+ can't) and or time getting in or out of the market (again 95% can't - and too many people convince themselves they're among the 5% who can).

 

[38Chevy454]

First, good for you that you are trying to learn and understand. The key is to start when you are young and you will have all those years for compounding and growing the savings. You are ahead of probably 80-90% of your peers just by doing what you are right now.

Since you have many years to go, a simple stock index with low fees type strategy for most of your portfolio is going to work best for you. You need to just do the max withdrawal you can, keep investing and don't worry about the dips and volatility. Just stay the course and keep up the investments. This is the pay yourself first model. Evaluate your risk tolerance and choose what investments you like.

 

[NgineER]

Welcome to the forum!

Start investing in index funds, stocks are fun but risky. Learn to do that after you have started index investing.

Capture your company match in your 401k. Then invest in a Roth IRA, followed by additional investments in your 401k. You might also want to have additional after tax savings for a house down payment.

 

[fumanshoee]

Thank you all for the advice. If you have anything more please let me know or where I can learn it from.

 

[rodi]

I'm a big fan of the book "The Millionaire Teacher" for folks just getting started. It's an easy read and covers the concepts well. Check your local library for a copy.

Sent from my Nexus 5 using Early Retirement Forum mobile app

 

[mtheulen]

Thank you all for the advice. If you have anything more please let me know or where I can learn it from.

If you are like me you will find that reading over this site along with bogleheads will answer 99.9% of any questions. I find I post very little but read very much

 

[racy]

Building on Midpack's Boglehead suggestion, here's a link to 10 short videos on their simple investment principles (scroll down). Each video is only 5 minutes long and designed for beginners.
https://www.bogleheads.org/wiki/Video:Bogleheads®_investment_philosophy

 

[jerome len]

buy a subscription to Money or Kiplinger's magazine. You'll learn a lot of everyday stuff through either of them. good luck

 

[BigE]

I would second the recommendation for Millionaire Teacher. This book was my Christmas gift to my two older kids (22 and 17). You are starting at such a great age with lots of time to compound. Awesome!