Personal investment is easier when the right steps are followed. To get started, it is important to consider your pocket and pick a strategy that suits the amount you plan to invest, the maturity time for your investment goals and the number of risks you can afford on each investment.

As a beginner in the world of Personal investment, you might want to ask some questions, some of which are; how do I start investing, what kind of plan is best for me. Our guide seeks to help you find answers to these questions and more.

To start investing, here are the steps you must follow:

  1. Start Personal Investment Early

One of the best ways to get huge returns on your investment is to invest early.

“Compound interest is the eighth wonder of the world. He who understands it earns it. He who doesn’t pay it.”- Albert Einstein. Compound earnings ensure your investment returns start yielding their returns. Nerd wallet says, “it allows your account balance to snowball over time.”

The best thing about investing young is that although there will be crashes in the stock market and the business sector, you have decades to beat the falls and even more time for your money to grow.

  1. Decide How Much to Invest

This factor is dependent on your investment goal and the time frame you set to reach it. There are a lot of investing goals you can set with common ones like a retirement plan, a mortgage plan or a business capital. Deciding how much to invest involves calculating your time frame and the amount you need to raise at a particular time. To make it simpler, try breaking it into smaller bits in form of weekly or monthly investments.

3. Open a Personal investment Account

You have finally taken the leap! Open an investment account that suits the kind of investment you are making. Retirement investment can be better done with a retirement savings account. However, if you want to invest for other goals, a retirement account might not be the best option considering the restrictions involved. Explore investment account options and choose the one that suits your investment goal!

4. Understand Your Personal investment Options

When considering personal investing options, it is important to understand the kind of risks and returns that comes with each investment option. Either your investment is done through a personal investment account, a retirement savings account or a standard investment account, it is important to understand what you choose to invest in. Read here for types of personal investment as discussed in the last article.

  1. Pick an Investment Strategy

As mentioned earlier, the kind of investment strategy you choose depends on your investment goals. To choose the type of investment strategy that suits your savings goal, you must consider your time horizon. If your savings goal is for retirement, investing in the stock market might be a good option. However, considering the risks associated with stocks, it is not safe for a short term investment goal. For a short term investment goal, your money is safe in a personal savings account or an investment avenue associated with low risks.


  • You do not need a lot of money to start a personal investment plan, rather start with the little you have.
  • Personal investing can seem like a lot of commitment at first. But as you learn and invest, you will start to see results.
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