Hi, I’m Chris Winter and in this video, I’ll be going over how beginners like you can invest your money in 2023!
This video is part of my “How to Invest in 2023” series, so make sure to check out my other videos in this series at different price points!
If you’ve finally made up your mind that you want to jump in the world of investment in 2023 but don’t know where to start in 2023, here are the things you can do:
Before you start investing in 2023, you’ll want to pay off any existing debts you have to make sure that your future investments in 2023 go to you and not towards your debt.
Debts also have interest rates which means they grow bigger over time.
Plus whether or not you don’t have debt, everyone needs an emergency fund.
Emergency funds are essential to everyone, not just investors.
You’ll never know when you’ll lose an arm or a leg. Just kidding, but crazy health things can happen at a moment’s notice. It’s not just health related either, as all types of emergencies can happen.
Ask yourself, can you survive three months if you lose your job?
For potential investors in 2023 like you, having an emergency fund is also important because it’s like having cash.
When there’s a crypto winter or a stock market crash, are you ready to take advantage of discounted prices?
While savings accounts have a very small annual interest rate, they are the most reliable form of investment available in 2023 since you’re guaranteed to never lose money.
Having a savings account while also investing in 2023 in other investments in 2023 is a common practice so you can have two sources of income: one slow but steady investment in 2023 through your savings account, and one high risk, high reward investment through stocks, indexes, bonds, ETFs, or cryptocurrencies.
Opening a savings account is very easy and usually only requires a very minimal initial deposit to get started so there’s no excuse not to open one right now.
Investing in the stock market in 2023 has proven to be the highest average rate of return among investment types for decades, according to the U.S. Security and Exchange Commission or SEC.
But if you’re just starting on your investment journey in 2023, stocks can be scary and daunting to even begin with. The stock market is complex and constantly changing.
It takes time to research winning stocks and manage all of the risk that’s especially happening right now during this bear market.
The robo-advisor is a platform that makes trades on behalf of you based on survey responses and algorithms.
You’ll have little to no involvement with handling your stocks because you've chosen the right robo-advisor.
It’s meant to be a set it and forget it type of investing style so if this suits your hands off approach, a robo-advisor is definitely something new investors should look at.
Just remember that your robo-advisor will have a very small cut of what you earn, either via a fixed rate or a percentage of what you earn.
While your online stockbrokers or robo-advisors are doing the heavy lifting for you, you can try out stock market simulators to see how well you’ll fare on your own in the stock market.
Stock market simulators, like Investopedia's simulator, emulate the market and give you a taste of what it’s like buying, selling, and handling your own shares.
This way, you’ll get a grasp of how the market functions through first-hand experience without the fear of risking real money.
It’s called paper trading and I suggest any new investor and especially traders to practice first.
See what you can do with a million dollars of fake money and how much you can grow it within 6 months.
And that my friend was not a crypto joke!
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I’m Chris Winter and on this channel I make finance videos on: • Stock Investing • Best Crypto To Buy & Invest In (Bitcoin, Etherium etc) • Best Stocks To Buy & Invest In • Best Online Stock Brokers • How To Make Money Online • Affiliate Marketing • Passive Income • Shopify • Amazon FBA • Print on Demand
On this channel I talk about the following: #BestOnlineBusinesses #MakeMoneyOnline #Cryptocurrencies #Bitcoin #Shopify #AffiliateMarketing #MakeMoneyFromHome #OnlineBusiness #Dropshipping #SideHustles #SocialMediaMarketing #PrintOnDemand #PassiveIncome #WorkFromHome #PaypalMoney #Investing
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