What a Beginning Investor Should Know

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A beginning investor should understand the concept of risk, and they should know that they must first have control of their budget before investing. Find out why it's smart for beginning investors to have an emergency fund to fall back on with help from a registered financial consultant in this free video on investments and personal finance.

Part of the Video Series: Beginner Investing
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Video Transcript

This is financial adviser Patrick Munro talking about what a beginning investor should know. What a beginning investor should know is the concept of risk. Once they have that firmly in place, they can understand their own risk tolerance. What a beginning investor should know is that they should have a budget first off that to live on and to make sure that they pay themselves first. What a beginning investor should know is that they have an emergency fund to fall back on if life becomes unpredictable and it often times is. What a beginning investor should know is various interest rates and how they work both simple and compound. And also what a beginning investor should know is how his investments are taxed by the government either if they're IRAs or if they're non-qualified investments and how to handle that tax exposure. Also what a beginning investor should know is how to pass on the wealth that he eventually will build on to his family and his heirs at the time of his or her death and that's done through an effective will. These are some of the things that a beginning investor should know. This is financial adviser Patrick Munro.

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