Want to Be a Good Investor? Here Are 5 Best Stock Scanners for You!
Want to Be a Good Investor? Here Are 5 Best Stock Scanners for You!

A lot of people want to grow their financial resources through investments. But their lack of financial literacy holds back their aspirations. After all, there’s the pressure of monitoring the flow and exchange of money, the various investment risks, and the unfamiliar terms that you have to know when you enter the world of investing. 

But don’t you worry, though. Anyone can now start investing if you only learn the basics. You don’t have to be like the Wolf of Wall Street to kick off your investment journey. Just take note of these investment tips below to get you started. 

Save Money First

As veteran investors say, saving money and investing are like cousins. You need to save up some moolah first to put in different investment methods. So, right now, you should discipline yourself to save your hard-earned money for your financial goals. 

You can start saving even a small amount of your earnings so that it won’t be too hard for you. For instance, you can opt for a monthly bullion subscription which is a smart way to save and invest your money in precious metals that will give you the best returns in the future. These small savings can go up to over $500 annually.

Moreover, you have to check your debt, cash flow, and liquidity needs. It’s not smart to invest money when you have debts eating away your financial resources. Make sure that you have a good amount of money on you when you need it. 

Also Read: How Much Money You Need to Invest Through Mutual Funds?

Plan Your Investment

You have to be organized when it comes to your investment/s. In this case, you need an Investment Policy Statement (IPS). Ask yourself what your goals in the first place are. Are you investing for your retirement? Is it for your children’s education? Or you just want to grow your wealth? 

Such info will determine the amount of ROI you need and the timespan you’ll need it. In this way, you can also know the risks that you need to take to get an advantageous return on investment. And, of course, to determine how and where you’re going to put your money. 

Do Your Research

Nowadays, you will have all the necessary information that can help you with your investment. Equip yourself with knowledge about the different investment methods such as Exchange-Traded Notes (ETNs), Exchange-Traded Funds (ETFs), Mutual Funds, Real Estate, etc. 

Make sure that you are comfortable with the investment method you’ll choose. Since every investment comes with risks, you must assess your risk tolerance. Pick an investment method that aligns with your financial goals. 

You can visit online websites such as investopedia.com, forbes.com, nerdwallet.com, among others, for investment tips and information that may help you along the way. 

If you’re looking into investing in real estate crowdfunding, read first-hand reviews on platforms and sponsors to determine their compatibility with your investment goals and needs. 

Also Read: 5 Helpful Tips to Save Money for Low-Income Earners

Diversification is the Key

If you want to minimize risks, the best strategy on how to invest for dummies is to diversify different types of investments in your portfolio. If you mix well a variety of suitable investment holdings, the lower the risk and the higher the returns than in any single investment. You can be successful with this strategy if the investments in your portfolio are not entirely correlated. 

Cut Taxes

If you want to minimize taxes and keep a large portion of your gains, you should pick the right type of investment account. You can choose tax-free municipal bonds or tax-efficient stocks and ETFs for that purpose. 

Control Expenses

Some investments incur expenses. Take, for instance, mutual funds. Mutual funds typically charge a yearly cost of about 1 percent of your assets. Regardless of the annual performance of your fund, the investment company will charge this expense from your holdings. 

If you’re purchasing ETFs, you also need to pay for management and brokerage transaction costs. So, if you want higher investment gains, it’s a must that you control your investment expenses. 

Rebalance Your Portfolio

You must know how to rebalance your portfolio regularly. For instance, you can sell or buy investments annually to keep an excellent level of asset allocation. This tactic is related to the diversification of your investment portfolio. 

However, it’s not to say that you can now have a guarantee against loss or achieve investment gains. Always remember that investing still comes with risks. And you need to assess the potential risks before you pick your investment. 


Investing is one of the effective means to achieve your financial goals. However, you should learn the basics first to be successful in this endeavor. Make sure to follow the tips mentioned on this list for that purpose. 

Also Read: Comprehensive Guide to Opening a Business When You Have No Money.