facebookHow do I get started in investing at the age of 19? What books would you recommend, and what steps to take after reading them? - Seedly

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Anonymous

14 May 2020

SeedlyAMA

How do I get started in investing at the age of 19? What books would you recommend, and what steps to take after reading them?

#AMASGYI

AMA SG Young Investment

Discussion (6)

I would recommend some easy to read books like Rich by Retirement and Quit Like a Millionaire. Not too technical and easy to execute.

Start small and you will be fine. I hope I started at 19 years old like you.

Hi, optimum choice to start investing in your young age.

the book recommendations already mentioned are fine.

you don't need to read a lot of books, though.

what you should incorporate into your actions early however are timeless 'truths' of investing:

-time horizons for equity to hold are at least 10 years (patience ...)

-invest periodically (cost averaging)

-reduce cost of investing as much as you can (brokerage commission fees and account maintenance fees, cheap products like ETFs)

-diversify (ETFs)

-avoid trading (nobody can time the market), instead Buy&Hold

-don't trust finance professionals too much (they often are biased to recommend their own expensive/underperforming products like unit trusts or incomprehensible structured products)

-avoid the 'bad ones' (unit trusts, options, CFDs, ETNs, ...), also investing into single stocks as a retail investor is controversisl when studies show that even the pros are incapable of picking stocks successfully over the long term (compared to market benchmarks)

-avoid greed, with equity investing 3-5% nominal annual performance averaged over longterm is good, 5-10% very good, 10-15% would be fantastic

more on my thinking:

https://seedly.sg/questions/what-is-your-genera...

Isaac Chan

30 Jul 2019

Business at NUS

Hello!

It would be a great help if you could understand how to read financial statements, such...

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