How to Start Investing in 2023: A 5-Step Guide for Beginners
Start investing as early as possible
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Investing when you’re young is one of the best ways to see solid returns on your money. That's thanks to compound earnings, which means your investment returns start earning their own return.
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Decide how much to invest
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One common investment goal is retirement. As a general rule of thumb, you want to aim to invest a total of 10% to 15% of your income each year for retirement.
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Open an investment account
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If you're investing for another goal, you likely want to avoid retirement accounts — which are designed to be used for retirement, and have restrictions about when and how you can take your money back out
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Pick an investment strategy
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Your investment strategy depends on your saving goals, how much money you need to reach them and your time horizon.
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Understand your investment options
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Once you decide how to invest, you’ll need to choose what to invest in. Every investment carries risk, and it’s important to understand each instrument