General Question

bob's avatar

How do I invest wisely?

Asked by bob (3225points) 5 hours ago

I have a retirement account and I’m not sure whether to buy individual stocks, some kind of mutual fund, index fund, or something else.

It feels overwhelming to try to get a handle on it. There are too many options! How do I get better at this? Does anyone have a recommendation for a particular strategy or a place where I can learn more?

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2 Answers

Michael_Huntington's avatar

Before reading any advice (except this one of course), start with Investopedia. If you want to get your toes wet, I suggest index funds and blue chips. It’s also mandatory that you stay up to date with the news and the economy since everything is all connected to the markets but this shouldn’t have to be said.
Stay away from meme stock like Tesla and GME, stay away from Jim Cramer and his ilk, stay away from /r/wallstreetbets and definitely don’t do Crypto.

Michael_Huntington (15999points)“Great Answer” (2points) Flag as…
Caravanfan's avatar

It totally depends on your own financial status. But if you’re unsure and you have to make an urgent decision go for a broad based total market index fund.

Caravanfan (14147points)“Great Answer” (1points) Flag as…

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