Always been into savings! And now investing for the first time? It can be traumatic, puzzling, and alarming. Campaigning hard earned money requires a basic understanding of financial assets; enough knowledge and confidence to avoid common investing mistakes; and importantly an understating of your investment goals.
By the time you’re ready to start investing, you must have specific goals in mind. Having a concrete goal can help you become more visionary and dedicated to that goal, making it real through regular actions.
One need to first empower themselves with some basic know-how. The Securities and Exchange Commission (SEC) has an eminent handbook for newbie investors which explains basic concepts and difference between the types of investments.
Choosing your first investment
When choosing an investment for the first time, experts say protruding on what one is literate about. If someone does have an expertise, one has slight tilt towards being more comfortable and knowledgeable when making an initial investment.
If one do not have a specific forte that makes you uncomfortable towards investing and that would make you like many others, no shame in it. Make another key choice and VSRK’s experts and financial analysts can help you actively managing your mutual funds.
An initial investment should be held for at least a year, in order to avoid short-term capital gains taxes. Avoiding high turnover or excessive trading; cutting costs associated with placing multiple trades, plus their tax implications, are wise or unwise strategies depends upon novice investor’s financial goals.
As per the research done at VSRK, major issues faced by new investors are that they tend to gamble with money that they can’t even afford to lose. Secondly, unaware investors seek out exotic products online. Inverse leveraged funds can be lucrative to triple your investments within no time, but they silently carry risk and are tricky to manage after certain point of time.
We at VSRK won’t allow your first or many investments to drop. Follow VSRK to start small and grow steadily and we will act as a catalyst for your wealth of tomorrow.
