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  • Tiffany Patton

Tips for Starting your Investment Journey

Pick Stocks that You Believe in


There are a lot of options when it comes to stocks and everybody has their own opinions on what stock is a buy or not, but the best advice I’ve ever gotten when it comes to individual stocks is to pick companies you believe in! For example, if you really love Amazon and use it frequently, then that could be a good option, do some more research before making any decisions but picking companies you're familiar with is always a good start.


Open a Roth IRA


If you're 18 years old and have earned income you can contribute to a Roth IRA, there are many brokerages like Fidelity and TD Ameritrade that make it easy! The benefits to a Roth IRA are that in most cases, earnings are tax free. You can contribute up to 6,000 a year and it can also be a tax deductible! It’s important to do research on what type of stocks to invest in, some people make the mistake of just putting their money into the Roth IRA without investing in stocks!


Let your Investments Sit


The best way to maximize your profits is to let it sit for as long as you can. For the most part stocks naturally increase in value. So even when the market is doing bad, you have time to recover the longer you hold. This isn’t universal advice, as some stocks like high growth stocks are risky so if you no longer believe in a company, think about selling regardless of how long you’ve had it. But overall, if you're patient with your portfolio you will slowly start to see the pay off. A lot of people look to the stock market to make money fast, sure it can happen but that usually involves a lot of risk and often doesn’t end well.


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