Purchasing stock may be easier than you think if you take the time to research your options.
One of the best ways to get more on your investment is to look into what you want your investment to do. And an easy way to do that is to get with a financial advisor.
If you are looking to finally purchase stock, the task may be a little less threatening than you think. One of the first things you should do when you’re looking to buy is get with an advisor.
“Developing a plan, finding out what somebody’s goals are whether they may be retirement, saving for college for their kids or building a house. And then finding out how we can take steps to get to those goals,” says Jennafer Johnson, financial advisor.
After you’ve explained your financial goals with an advisor, you can now start looking at different stocks to buy. Figure out how much you are looking to invest, and what you want to invest in.
“We’re looking at stocks that have a good track record and that pay a dividend, and maybe a rising dividend. But each situation is different, so it’s really difficult to say. I would definitely say when we’re looking at stocks investments, we’re looking at good long term investments we can hold for the long term,” says Jennafer Johnson.
And finally, figure out when and if you want to sell. Given the circumstances your stock falls, that still may not be the time sell your stock.
“So when we look at investing, we look at taking that emotion out and thinking about is there a good time to sell when something is up. There’s a reason for that and that case we want to go ahead and do that and take some of those profits,” says Johnson.
Another thing to keep in mind is that each financial situation is different, stock trades for some may not work for others. And of course be sure you can afford your investments, the best way to make money is to save it.