The Chicago Journal

Practical Tips for Starting Your Investment Path

Practical Tips for Starting Your Investment Path
Photo: Unsplash.com

By: John Glover (MBA)

Investing has always been a topic that felt a little out of reach to many of us. It’s often associated with images of fast-paced Wall Street brokers, complicated jargon, and a general sense that you need to be “in the know” to make it in the market. And if you’re like me, you might have had moments where the idea of investing feels more intimidating than exciting. I’ve spent years as a journalist, carefully covering finance and economic news, but when it came to my own money, I wasn’t always so confident.

So, when I came across a recent survey from Prospero.ai that found 56.9% of people in the U.S. have no experience in the stock market, it resonated with me. This isn’t just a few of us feeling left out—it’s more than half the country! However, the same survey also revealed that 30.8% of people are interested in learning how to invest. There’s clearly a desire to get involved, but it seems like many are unsure of where to begin.

Practical Tips for Starting Your Investment Path (2)

Photo Courtesy: Prospero.Ai / www.dailyinvestnews.com

That’s why I found myself reflecting on some of the insights shared by George Kailas, CEO of Prospero.ai, who offers three practical tips for people ready to take the plunge into the world of investing. These tips are straightforward and surprisingly accessible, so let’s break them down and see how they can apply to anyone, including you and me.

Hit the Books

One of the things that George emphasizes is education. Before you can even think about making smart investments, you need to understand the basics. “When you strip the financial world of its big words and reputation, it’s a fundamental that is relatively straightforward to learn,” says Kailas. “It’s not easy, but it’s doable.”

This is a great reminder that you don’t have to be a financial whiz to start investing—you just need to be willing to learn. Whether you turn to books like The Intelligent Investor by Benjamin Graham or follow the latest finance podcasts, there’s a wealth of information out there for beginners. The good news is that you don’t need to dive headfirst into the complexities of the market. Start with the basics: What is a stock? How does compound interest work? What’s the difference between a mutual fund and an ETF?

I personally found that once I started reading about these concepts, the fear of the unknown began to fade. The more I learned, the more confident I felt. And the premier part? You can take it at your own pace. There’s no rush to master everything in a day.

Apply Your Knowledge

Once you’ve got a grasp on the basics, it’s time to put that knowledge into practice. George suggests that there are plenty of resources to help you take that next step in your investment journey, and it doesn’t have to be overwhelming.”Doing your own research can provide valuable insights to help you determine which resource might be a good fit for you.” he says.

This is where things get exciting. Whether you decide to work with a financial advisor, use an AI-powered platform like Prospero.ai, or even experiment with a stock market simulator to test out your strategies without risk, the key is to start applying what you’ve learned. Personally, I’ve always leaned on the idea of “starting small.” You don’t need to invest your life savings right away—begin with an amount you’re comfortable with, and see how the market behaves.

In today’s digital age, it’s easier than ever to access resources. You can sign up for online investment courses, follow expert insights on social media, or find a digital advisor. What’s important is that you tailor the experience to your comfort level and goals.

Build a Community

The third tip George offers is one that I think is often overlooked: build a community. “Like most things in life, things are more fun when you’re doing them with people you like,” he says. And it’s true. While investing can seem like a solo endeavor, it doesn’t have to be.

In my own journey, I found that talking to friends and family members who are also interested in investing was a great way to stay motivated. Sharing tips, discussing strategies, and even talking about our mistakes helped make the process feel less intimidating. There’s also a growing number of online communities, whether through Reddit, Discord, or other social media platforms, where people share their investment journeys, successes, and failures.

These communities are incredibly valuable for newcomers, not just because you can learn from others, but because they offer a space for open dialogue. And believe me, hearing from someone who’s been in your shoes and has successfully navigated the market can be incredibly reassuring.

Summary

If you’ve ever been curious about investing but felt too intimidated to start, know that you’re not alone. But as George Kailas points out, the path to investing isn’t as daunting as it might seem. By learning more, applying what you’ve learned, and connecting with others who share similar interests, you can begin to navigate the market with more confidence and work towards building a more secure financial future.

The stock market doesn’t have to be reserved for Wall Street elites. It’s a tool that anyone can learn to use—with the right approach and mindset, you can make it work for you. So, hit the books, start small, and surround yourself with others on the same journey. You’ve got this.

 

Disclaimer: “This content is for informational purposes only and is not intended as financial advice, nor does it replace professional financial advice, investment advice, or any other type of advice. You should seek the advice of a qualified financial advisor or other professional before making any financial decisions.”

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