E-30 Action Steps for a Beginner Investor
Hello, I’m Kalyani, and I’m here with Rupali on our show, Fantastic Females. Today, we have an exciting episode lined up for you. We will be sharing techniques, tools, ideas, and thoughts to help you begin and continue your investment journey. It’s important to note that becoming an expert in finance doesn’t happen overnight, and it’s impossible to know everything. The key is to start somewhere and learn from mentors or teachers who resonate with you. As the “Trading Mom,” my mission is to make finance knowledge accessible to everyone. I have a program called the Passive Income Masterclass, starting on April 11th. It consists of five live sessions where I will guide you from having no knowledge in finance to building the right mindset, analyzing stocks, and creating a passive income from investments. When it comes to learning about investments, it’s essential to invest time and effort into upskilling and gaining knowledge. This applies to any new skill you want to acquire. The mindset needed is to accept that you won’t become an expert overnight and to embrace the idea of starting somewhere. It’s about finding a mentor or a teacher who resonates with you and taking small steps towards learning. The amount of time required for someone with limited knowledge about investments to start investing can vary. On average, dedicating 70 to 100 hours over a few months is a good estimate. The key is to focus on consistent learning and practice. It’s not a get-rich-quick scheme, but rather a long-term journey. Once you start learning, it’s crucial to stick to a strategy and give it time to play out. It’s common for people to get overwhelmed by the abundance of information and different strategies available. It’s important to choose a path or mentor and stick to it, instead of constantly switching strategies. Different strategies suit different personalities, and finding the right fit for you is essential. Investing time in research is another important aspect. It involves looking at charts, reading news, and staying informed. Access to the right information is key, but it’s also important to stay consistent with your sources. While it’s good to explore different perspectives, it’s crucial to have a consistent approach and avoid getting overwhelmed by conflicting opinions. Building conviction in your investment decisions comes with time and experience. It’s about gaining enough information, but not feeling the pressure to know everything. Trying to consume all available information can be overwhelming and counterproductive. Instead, focus on building confidence and forming your own opinions based on the knowledge you have acquired. Remember, investing in finance is a marathon, not a race. It requires patience, consistency, and a willingness to learn. Starting somewhere, sticking to a strategy, and staying informed through research are essential steps on your investment journey.