Taking that first step to financial freedom is sometimes the hardest part. Investing is tricky! Like starting a research paper or finally cleaning out a storage room, there will never be that “perfect time” to start! Many people second guess their investments, so it’s important to feel well informed when you do finally make your financial decisions.
Getting an “inside stock tip” from your coworker at the office water cooler is NOT the right way to choose your investments. Hey, who knows? John from accounting might be right about that particular company. Maybe it IS about to take off in an untapped market…or maybe it’s about to crash like hundreds of companies before it. Blindly taking financial advice without the proper research to back it up is like taking a ride with a complete stranger. You might end up at your destination, or you might get dropped off on the side of the road-completely lost.
Your stock market research should help you make more money in the long run. It should involve research about companies’ financials, outside industry conditions, and brand identity. To learn more about what actually goes in to stock market research click on the image below: