Educate ME! (Please)
Question: Hi, I just got out of college and am now part of the working world! My income is considerably higher than my expenses and I would like to start learning about investment options and such. As a start I have been reading several news groups in an attempt to learn terminology, and get a feel for how things work. This is going ok, but I would also like to find some resources aimed at the novice investor. I have $20,000 or so in student loans, so it will take me a little while to pay these off, so I have some time to learn, before I really feel like I can afford to take some risks.
So I would appreciate advice on what to do now. I didn’t study economics or much else in school that would help me on this level, except learning to do research and similar general tasks. Are there books I should look into? Some other publication?
I don’t really want to go to some weekend seminar and learn someone else’s system. I think I would just be following guidelines that I don’t understand. I’d rather take some time and learn more.
Thanks for the help!
Answer: Buy a book. Specifically, I recommend “Getting Started in Stocks” published by Wiley (I think), it is clear and concise, and well written.
Once you’ve done that, you’ll have to figure out what your plan is. As you say, paying off loans is a good idea. But if the loans are not high interest, you may be better off investing some of your money as you pay the loans off, so that you can get investment income to help you pay the loans! There will be tradeoffs you will have to manage. YOu are on the right track though, learning as much as possible is a good idea, and when you know enough, make your own decisions, and take the level of risk you are comfortable with..
good luck,
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