New to Investing? Here's Your First Investment in 2024.
Getting started investing can be a challenge. First comes opening a brokerage or retirement account, like a Roth IRA. Then comes the hardest decision: What will your first purchase be? This can be quite nerve-racking, as you probably don't have a large account balance, so not losing money is a top priority.
Still, you want to make money (that's why you're investing, right?), so balancing the two can be difficult. However, if you're starting off, I think there's one investment that makes perfect sense and can provide the balance you need.
Your first investment likely shouldn't be an individual stock unless you've done your research and have high conviction in the company. Instead, I'd recommend an index fund to begin, as this will give you instant diversification across many companies.
Source Fool.com
