A funny thing happened this year: More people than ever became interested in taking control of their finances through self-directed investing. Was it a product of the extra free time we had during this pandemic? The fact that technology has made it easier than ever to make a trade? Either way, trading volumes on North American exchanges grew exponentially in the early months of 2021 — and much of the growth has been attributed to individual investors stepping onto the DIY playing field.
At a recent family gathering, a cousin asked me where she could learn more about investing. She’s a successful professional in her late-30s. She already has a saving habit — and now is looking for her money to do more of the heavy lifting. What she doesn’t want is someone treating her like she isn’t smart enough to figure this out — or to scold her for what she doesn’t yet know about investing strategies.
In a world where there is so much competition for your eyeballs, MoneyTalk DIY is here to offer you the tools and information you can use to level-up your investing skills, in a way we hope is engaging, relevant and interesting to you. Kind of like having brunch with your knowledgeable friends, where you come away thinking ‘Wow! I didn’t know that.’
Whether you’ve been watching the markets from the sidelines, or are already making trades in your portfolio, you probably want to feel confident in the driver’s seat when it comes to building your wealth. But few of us are looking for a lecture in financial literacy. That’s where MoneyTalk is here to help — we’re a no-scolding zone! For instance, did you watch earlier this year as a select group of stocks promoted on Reddit dominated the headlines? “Your brain on meme stocks” offers an entertaining look at the history of FOMO and investor psychology. You may be surprised that our 17th century counterparts were as obsessed with tulips as many of us were with meme stocks.
Speaking of stocks in the headlines, take a look at “Are you trading or are you investing?” Investing is much more than picking a winner, and in this article, we highlight the differences between investing and trading, and what those differences can mean to the potential growth of your portfolio.
Of course, great portfolios are built on a strong foundation. We think “How does the stock market even work?” will help establish a great foundation for your investment know-how. Yes, there might be some info you think you already know…but I believe everyone can learn something new. It’s kind of like that beginner cooking class I took after years of cooking for friends and family. Even though I didn’t think I was a beginner, every class introduced me to a new skill. Today, I’m a better cook for it, and now my knife skills are amazing.
Along the way, we’ll always stop to fill you in on any investing lingo we think you should know. Take a look at our Know Your Terms articles. Consider them snack-size descriptions of unfamiliar information like Dollar-Cost Averaging, Inflation, Dividend Reinvestment Plans and ETFs. I’m sure you’ll nibble more than one.
Of course, beyond building your investment know-how, we hope to inspire you as you carve a path in your career. In the coming months look forward to interviews with entrepreneurs, creatives, and professionals who are at different stages in their careers. These conversations are an opportunity to listen in on where they started and how it’s going. We want your goals and aspirations reflected in the stories we share.
Bottom line? We’re here to help you grow as a savvy investor.