Investing 101

Here are few concepts as you approach Investing 101:

• Understand that there is no guarantee when you invest. You can lose your money. You can lose ALL of your money. Wrap your brain around that before you start playing the stock market.
• Do your homework. Don't determine your investments based on the things that Aunt Rosemary tells you at the annual family part. Conduct due diligence on your investments. Remember, no one cares more about your money than you do, so take your investments seriously.
• Don't put all your eggs in one basket. In other words, diversify your investments. If you're investing in stock, make sure you don't all your money in the same sector. Be sure to include stocks from throughout the sector. For example, don't own all tech stocks or don't own all oil stocks. Spread it around. If your sector takes a hit, it won't take as big a bite.
• Be aware that the stock market goes up and the stock market goes down. Rarely does the market stay put. Prices may be affected by many side effects.

Knowledge is the key to investing. Whether you use an independent advisor or opt to self-direct your accounts, you need to be aware of everything that's going on in the news. Read the newspaper, watch television and listen to people explain what's going on. Continuing education is a vitally important aspect of the process. By establishing a base of learning and building on it over time, you'll be prepared if something unusual occurs.

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