The Motley Fool's Guide to Investing - Episode 3
In the video, Scott covered some actions we recommend all investors take before investing – namely, pay off existing high-interest debt, build an emergency fund, and manage your market expectations.
The first two steps are pretty clear; they're really just about protecting yourself financially. However, the third step (market expectations) can be a bit more complex. Here are some plans to help you get the most out of your investing.
What if you don't have a lot of a money? Should you wait until your savings reach a certain value? It's expensive to buy investments, right?
Not necessarily. As long as it's not all being swallowed up fees, you could get started with as little as $5. Investing is one of the best ways to make money, after all, so as long as you're in a safe place financially and make thoughtful decisions, it could be profitable to start sooner rather than later.
To your wealth, wisdom and happiness,
The Motley Fool Australia