Investor Junkie
MENUMENU
  • Start Investing
    • HOW TO GET STARTED INVESTING

      New here? Just starting as an Investor?

      If you're a new investor and visiting Investor Junkie for the first time, then this is what you need to get started.

    • GETTING STARTED STEPS

      • Get Rid of Consumer Debt
      • Start ​​​​​​​Investing Now
      • Open a Retirement Account
      • Create an Asset Allocation
      • Minimize Taxes
      • Reduce Fees & ​​​​​​​Fund Expenses
      • Start a ​​​​​​​Side Hustle
      • Protect ​​​​​​​Your ASSets
      • Next Steps
  • Reviews
      • Recommended Services

      • Personal Capital
      • Betterment
      • YNAB
      • Acorns
      • Fidelity Investments
      • Ally Invest
    • Robo Advisors

      • Betterment
      • Wealthfront
      • Wealthsimple
      • Blooom
      • More Reviews

      Stock brokers

      • Ally Invest
      • E*TRADE
      • Merrill Edge
      • TD Ameritrade
      • More Reviews
    • Microsavings

      • Acorns
      • Digit
      • Stash Invest
      • Qapital
      • More Reviews

      Banking

      • Ally Bank
      • CIT Bank
      • Chime
      • EverBank
      • More Reviews
    • Personal Finance

      • Mint
      • Quicken
      • Personal Capital
      • YNAB
      • More Reviews

      Accounting

      • FreshBooks
      • QuickBooks
      • Sage Business Cloud Accounting
      • Wave
      • More Reviews
    • Real Estate

      • Fundrise
      • Realty Mogul
      • RealtyShares
      • PeerStreet
      • More Reviews

      Peer-to-Peer Lending

      • Lending Club
      • Prosper
      • Wunder Capital
      • YieldStreet
      • More Reviews
    • Investment Research

      • Barron’s
      • Morningstar
      • Stansberry Research
      • YCharts
      • More Reviews

      Financial Books

      • Rich Dad, Poor Dad
      • Money Master The Game
      • The Millionaire Next Door
      • The Best Finance Books
      • More Reviews
  • Compare
    • Robo Advisors

      • Betterment vs. Wealthfront
      • Betterment vs. Vanguard
      • Wealthfront vs. Vanguard
      • Wealthfront vs. Wealthsimple
      • Compare Others
    • Personal Finance

      • Quicken vs. Mint
      • Mint vs. Personal Capital
      • Mint vs. YNAB
      • Quicken vs. Personal Capital
      • Compare Others
    • Stock Brokers

      • Schwab vs. Fidelity
      • E*TRADE vs. TD Ameritrade
      • E*TRADE vs. Robinhood
      • Fidelity vs. Vanguard
      • Compare Others
    • Real Estate

      • Fundrise vs. Realty Mogul
      • Realty Mogul vs. RealtyShares
      • Fundrise vs. Rich Uncles
      • LendingHome vs. PeerStreet
      • Compare Others
    • Banking

      • Best Online Savings Account
      • Best Online CD Rates
      • Best Jumbo CD Rates
    • Peer-to-Peer Lending

      • Lending Club vs. Prosper

      Microsavings

      • Acorns vs. Stash
  • Learn
      • All Articles
      • Investing SecretsInvesting Secrets
      • The Mint ManualThe Mint Manual
      • SEE ALL ARTICLES
    • Budgeting

      • How Much Do I Need to Save per Month
      • What is Zero-Based Budgeting?
      • 50/30/20 Budgeting Doesn’t Work
      • Why I’ve Switched to Personal Capital
      • See All

      Robo Advisors

      • Robo-Advisor Overview
      • True Costs of the Robo-Advisors
      • Robo-Advisors vs. Target Date Funds
      • Robo-Advisors vs. Microsavings
      • What is Tax-Loss Harvesting
      • See All
    • Investing

      • How to Choose an Online Broker
      • How to Transfer to a New Broker
      • Invest Your First $1,000
      • Who Offers a Virtual Trading Account?
      • See All

      Real Estate

      • Investing in Real Estate
      • 3 Steps to Get Started as a Real Estate Investor
      • You’re a Fool to Prepay Your Mortgage
      • How to Use Your 401(K) as a Down Payment
      • Tax Lien Investing
      • See All
    • Retirement

      • How to Rollover a 401(K)
      • How to Maximize Your 401(k)
      • Target Date Funds Comparison
      • Roth IRA vs. Traditional IRA
      • See All

      Taxes

      • 2017 Retirement Plan Contribution Limits
      • Tax-Efficient Investing
      • Tax-Loss Harvesting
      • How to Pay $0 Tax on a Six-Figure Income
      • The Best Tax Software for Investors
      • See All
  • Promotions
    • Featured promotion
      Betterment

      Betterment

      BEST OFFER
      Up to one year managed free initial deposit

      Learn More
    • Stock Brokers

      • Ally Invest
      • E*TRADE
      • Firstrade
      • Merrill Edge
      • TD Ameritrade

      Best IRA Promotions

      Free Stock Trading

    • Robo Advisors

      • Betterment
      • Blooom
      • Wealthfront
      • Wealthsimple
      • Ellevest
    • Personal Finance

      • Quicken
      • QuickBooks
      • YNAB
    • Microsavings

      • Rize
      • Stash Invest
      • Acorns
    • Other

      • Lending Club
      • Roofstock
      • RealtyShares
      • YCharts
      • Personal Capital
Home > How to Get Started Investing > Take the Next Steps

Take the Next Steps

This is the last step in our complete series of Getting Started Investing. If you’re a beginner who’s looking to make your first investment and build wealth for the future, then read on.

Ah, the fun stuff — building wealth! Is there anyone who really doesn’t want to be wealthy? Let’s start with spilling the “secret” to wealth building.

Take Risks — Lots of Them

Sounds scary, right? Well this isn’t roulette, you need to take calculated risks. Go out on a limb. Jump at new opportunities. If you refuse to leave your comfort zone, you will probably fail. Plain and simple — you have to put yourself out there. Repeatedly.

It won’t all work. You will likely fall a few times because you took a risk. That’s fine. High risk, high reward.

For more information on the wealth building “secret”, check out The Secret To Building Wealth.

If you are wealthy (or will be some day!), you might want to know how wealth affects your investing strategy. There are a few items you may want to consider! Read about these at Does Wealth Affect Your Investing Strategy?

Choose an Investment Strategy

Building wealth happens over the long-term. Investors need two things: patience and consistency. Boring, right? Yes, but important. Once you choose an investment strategy you need to stick with it. Here’s why:

Understand there will always be diversions. Do not fall for the “grass is greener” thought process. There will always be a stock that looks like a better place to invest. However, you don’t want to spend your time chasing after the investment du jour. Stick with your picks and let time work its magic.

What works for someone else, may not work for you. While you may hear about exciting investments that don’t align with your strategy, those investments may not work for you. Perhaps they are riskier than you feel comfortable with. Perhaps they are in a sector you don’t fully understand. Invest in what you know and don’t deviate just because the media is abuzz about an unfamiliar stock.

Your investment strategy needs time in order to succeed. Choose investments and then wait. Wait for years and years and years. Patience is a virtue and in time it will all pay off (literally!).

Changing strategies may mean that you don’t have a strategy. If you are easily convinced to change strategies, you might not have a strategy at all! Do your research and develop an investing strategy. Stick with it and let time do its thing.

The Most Important Investing Advice

Finally, I have the most important investment advice I have. Invest in yourself. By investing in yourself and your investing knowledge, you will become a better investor. Here’s how:

  • Attend investment seminars. Attend a few investing seminars each year! They can be expensive but can often make up their cost in the knowledge you gain and the returns you get from that knowledge. You will also get the opportunity to meet with other investors.
  • Improve your business or career skills. Take courses that will improve your investing, your business, and/or your career skills. The more you make, the more you can invest!
  • Regularly read and follow investment related blogs. This will keep you up to date on investing news and current events, as well as give you investing ideas you hadn’t considered previously.
  • Network in investment communities. Connect with other investors to learn and ask questions without paying an advisor. Investing is not something you should do alone.
  • Read books written by successful investors. Read 3 or 4 investment books per year. Even try stepping out of your box a bit and read books that run counter to the mainstream. You might learn something you had never considered.
  • Choose a successful investor mentor to follow. Find someone within your circle who is a great investor to be your mentor. No one in your circle? Network to find someone. After that, choose a successful investor/author and read everything they have ever written.
  • Always be open to changing circumstances. Keep your eyes open for new opportunities and changes in the market. Yesterday’s successful securities may not be successful forever. Be open to change.

To read more about investing in yourself, read The Most Important Investment Advice: Invest in Yourself.

Investing Secrets

If you really want to take it to the next level, subscribe to our investing secrets mailing list. Learn about:

  • How to beat 80% of professional fund managers over 10 years
  • The hidden “tax” that eats away at your investment returns
  • Why many of the so-called “experts” are wrong
  • The most common way to become wealthy

..and many more tips with 52 in all. Get a new tip once a week.

Signup For Free to Investing Secrets
Share
Tweet
Share
Reddit
Email

Getting Started Steps

  • Intro - How to Get Started Investing
  • Step 1 - Get Rid of Consumer Debt
  • Step 2 - Don’t Wait, Start Investing Now
  • Step 3 - Open a Retirement Account
  • Step 4 - Create an Asset Allocation
  • Step 5 - Minimize Your Taxes
  • Step 6 - Reduce Fees and Fund Expenses
  • Step 7 - Start a Side Hustle
  • Step 8 - Protect Your ASSets
  • Step 9 - Take the Next Steps

Other Resources

  • Recommended Investment Apps
  • Best Robo-Advisors
  • Best Online Brokerage
  • Best Personal Finance Software
  • Best Microsavings Services
  • Best Investing Books
  • Top Financial Magazines
  • Best Stock Broker for Beginners
  • Best Way to Invest $1,000
  • Milestones to Achieve in Your 20's and 30's
  • Best Apps for Beginning Investors

Recent Articles

Should You Rent Your Property to Section 8 Tenants? Last-Minute Tax Tips: 6 Ways to Reduce Your Tax Bill Today Swell Investing Promotions – Get $50 for Earth Day Fundrise Promotion – Get 3 Months Free 4 Ways to Invest Your Tax Refund Instead of Spending It

Popular Articles

  • Personal Capital Review
  • Betterment Review
  • Betterment vs. Wealthfront
  • Acorns vs. Stash
  • Wealthfront Review
  • Overview of Robo-Advisors
  • Aly Invest Review
  • Mint Review
  • Quicken 2018 Review
  • Stash Invest Review
  • YNAB Review
  • Acorns Review
  • TD Ameritrade Promotional Codes

Investor Junkie

Helping make finance easy. Investor Junkie is your shortcut to financial freedom. We know that managing finances is not easy. We analyze and compare tools to help you make the best decisions for your personal financial situation.

© 2018 Empowering Media, Inc. All Rights Reserved
Subscribe to the Investor Junkie Newsletter
  • About
  • Careers
  • Contact
  • Advertise
  • Privacy
  • Disclaimer

Stay Connected to Investor Junkie

  • subscribe unsubscribe

Investor Junkie is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Members should be aware that investment markets have inherent risks, and past performance does not assure future results. Investor Junkie has advertising relationships with some of the offers listed on this website. Investor Junkie does attempt to take a reasonable and good faith approach to maintaining objectivity towards providing referrals that are in the best interest of readers. Investor Junkie strives to keep its information accurate and up to date. The information on Investor Junkie could be different from what you find when visiting a third-party website. All products are presented without warranty. For more information, please read our full disclaimer.