Day 1: Preparation Phase (Workspace Setup)
Okay, let’s start. First and foremost, you have to choose and set up an investment platform that is essentially an online service which allows you to buy, sell and hold funds. Having 24/7 online access also allows you to view and monitor the progress of your investments at any time. It’s important to note that there is no ‘ultimate’ platform. It all depends on what type of products you’re looking to hold, how you want to manage them, what service you’re expecting and what you’re looking to invest in (see Appendix C). The robo-advisor route is a great way to start investing as a beginner [74]. Available robo-advisors (Fidelity, WealthSimple, WealthFront, Betterment, Ellevest, etc.) can sometimes be less expensive than hiring a financial advisor. Then you need to setup a brokerage service account to store and save funds for investing (Vanguard, Fidelity, Charles Schwab, Public, etc.). You should invest at low costs and get access to useful tools. Make sure that buy...