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How To Start Investing In Stocks For Beginners

Published on: December 2 2022 by Tatiana James

How To Start Investing In Stocks For Beginners

How To Start Investing In Stocks For Beginners

hey everyone welcome back I'm Tatiana
and in today's video we're gonna be
sharing with you how to invest as a
beginner what you need to know I've been
investing over the last couple of years
now and I'm self-taught I've learned how
to invest by reading books and taking
trainings and just kind of using the
different resources to guide me but I
would not say that I'm in the position
to be giving you advice on investing and
so that's why I have brought on my
fiance Stefan here who has been
investing for quite a long time now and
he even has a video on his channel on
his YouTube channel on how to invest for
beginners and that's gotten millions of
views so I'm sure that what he has to
share with you today will be extremely
valuable so Stefan thank you for being
on thanks for having me it's half of my
first question for you is at what point
should our viewers start to consider
seriously investing great question I
think the first thing I want to mention
is that you know even like you I'm not
an expert investor I'm not a financial
advisor I'm going to share with you my
experiences that I've been doing now
over many years now but there's still a
lot that I don't know and understand I'd
even consider myself more intermediate
there's many levels to investing just
like with anything there's still things
I'm learning a lot of and with what I'm
sharing with you here
it's important for you to understand the
risks involved with investing and that
you know you make your own decisions not
just listen to what I say or tatiyana
but you also do your own due diligence
your own research and that understand
that you're responsible for the
decisions that you make when it comes to
investing that's the first disclaimer
that I do have to mention to you guys
because you know investing is risky just
like other things even starting a
business is risky as well to answer the
question what should someone consider I
think first you got to know what your
goals are what goals do you have with
investing and why do you want to invest
are you investing for your retirement
where you have 10 20 30 40 50 years
perhaps where you can see your
investments grow over a period of time
and then maybe when you retire that's
the stage when you want to sell some of
your investments or maybe live off some
of the income the passive income perhaps
that some of your investments provides
if that's your goal then that's gonna
that's gonna have a different strategy
and mindset behind your investing versus
if you're investing more for the
short-term if you need the money like if
you're in your 50s and you're nearing
retirement you're gonna have a very
different strategy and the amount the
level of risk and your timeframe and
horizon you have versus if you're in
your 20s
so first kind of knowing where you're at
and what your goals are is the first and
most important thing but also knowing
what your threshold for risk is what's
your tolerance for risk
are you more conservative with your
money where your main goal is to not
lose your money to preserve your cash
your capital and just maybe have it grow
over the long term or are you someone
that that is you know younger and
willing to take more risk and wants to
be a bit more aggressive and has more
time on their side knowing that is also
very important will determine whether
what kind of investment vehicle you
might pursue whether that's real estate
or stoks or bonds whatever it might be
and even just kind of knowing like you
know making sure you have money put
aside and that you're not investing your
life savings
that's not intelligent you got to make
sure you've got a cash reserve and
you're responsible with money already
and that you've got it I recommend
always at least three to six months
savings put aside of your monthly
expenses and that's something you never
touch you don't invest it that's cash
that you have in the bank and a savings
account that you don't touch that's for
a rainy day that's for an emergency
because the worst position that you ever
want to be in is that you need the money
to pay your rent or to pay your mortgage
or for some sort of emergency and now
you have to sell your investments to get
that money you don't want to be in that
position because now you're forced to
perhaps sell your investment at a lower
point and you get a you're gonna get a
loss from that so investing is something
that you're ready for once you've got
good money management habits you've got
money put aside okay for emergency and
then you have some extra money on top of
that that you're now prepared and ready
to invest over the long-term in your
future and I will clarify
we're both more long-term investors
we're not day traders we're not we're
not trying to make any short-term money
with investing
we make our money primarily through our
businesses which provide cash flow for
us to support ourselves and provide the
extra cash flow that we can use to
invest over the long term so for both of
us we invest in a variety of companies
and stoks and different investment
vehicles that are long-term investments
for us we don't need that money because
we got money coming in from our
businesses this is for a retirement it's
for maybe when you're going to purchase
a home or something over the long term
and with that mindset you know we we we
don't get too carried away with the
short-term prices of the stok market
but we're holding for the long term
which is great I think that's really
important to note because once you
become an investor and you start
investing you'll you'll realize that
there every day in the stok market the
price of the stok will change once some
days it's gonna be higher some days it's
gonna be lower and if you're looking at
a graph and you're looking at every day
it's gonna be like this and so if you're
someone who is going to be emotional
about your investments and you're
checking your investments every single
day and when you see a low day you feel
fearful and then you want to pull that
investment out then that means that you
don't have a high risk tolerance and I
would caution you about that because
with a long-term investment strategy you
have to be okay with just doing your due
diligence and deciding on what you want
to invest in and making that educated
decision
but once you've invested in it you're
staying in and you stay in long-term not
unless something you know crazy happens
but the goal is to stand long-term
because that's how it's gonna pay off
and if you're someone who's checking
every single day on that stok surely
you're gonna see those ups and downs and
you're gonna feel like you should pull
out when that's the opposite of what you
want to do so for us our our investment
strategy is long-term we are not day
traders so we're not online every single
day buying and selling stoks in my
opinion that's just a very risky way to
go about it people are successful with
that and they make money but a lot of
that is timing the market and I believe
that anyone who's going to try and sell
you on their ability and their
talent to time the market is just full
of BS and I would caution you to follow
those people nobody knows how the stok
market is going to perform the stok
market is determined by consumers and by
the markets and what's happening in day
to day life and we can't predict that so
I think it's important like what you
said it's a determine on what your
strategy is and what where we are both
long-term investors and that just for me
feels a lot more secure and less risky
yeah you know we just don't have the
time to do day trading I mean let's face
it our busy I'm sure you are as well
with your job or your business for us
you know the business is where we'll
always be able to make the most money
from because that's something we have
more control over and that's something
that you know we both know we put this
time into your e-commerce business or
whatever it might be your YouTube
channel that you're always gonna get
better returns from that but but that
takes up most of our time that's our
main sources of income and that
investing is something we do on the side
and the reason why this is also
important is that if you're an
e-commerce entrepreneur you're building
your business you don't wanna have all
your money in your business that's a big
mistake that a lot of people have yes
you want to reinvest back in your
business and I believe that that's
that's always gonna give you the
greatest return is in your business and
also in yourself right investing in you
and you know yeah your knowledge your
mindset your it's you know growing and
courses and things like that but you
don't want to have everything in that so
at a certain point you want to start
taking money aside maybe it's from your
job or from your business and pay
yourself some of that so that that's
money you put aside and that's for
another stream of income that you're
gonna create which is you're investing
income and we can tok about different
investment vehicles and whatnot that you
can pursue but the benefit of the long
term you know for us we don't get
worried when the market drops you know
right now at a time like this the
markets are down from the all-time highs
that we had a few months ago when you're
a long term investor that doesn't bother
you
okay cuz here's the thing you only lose
money when you sell okay back in 2008
when people look you know the market
crashed or
you know every ten years or so there is
a recession the market crashes every
year there's something called a
correction a correction is when the
market drops up to start ten ten percent
up to twenty percent is a correction
that happened somewhat every year so you
can predict it you don't need to freak
out when it does happen but when you
know that that's gonna happen and you're
a long-term investor you don't worry
about that okay because as long as you
don't sell you don't lose so if you hold
your investments and they're great
companies and we'll tok about that big
blue-chip large-cap companies the
biggest companies in the world when the
market goes down it's actually an
opportunity for you to buy more at a
cheaper price right because if you're
holding it long-term then it's gonna
recover as it always does and it'll go
up over the long term and when you're
when you're thinking long term
you're not as caught up in the road
bumps and this you know the short term
headlines and news and things that
happen along the way I love that and I
think that's really important I want to
emphasize what you just said
I think it's important to to really look
at it when you're investing in a stok
you're investing in a company and so for
example if I say that you know I invest
in Amazon if the Amazon stok goes down
because there is a correction or a crash
does that mean that the Amazon company
is worth significantly less the stok is
worth less but the company is still
valuable people are still using Amazon
people are still shopping Amazon is you
know one of the top five companies
trillion-dollar company and so you have
to always kind of remind yourself that
just because the stok is down does not
mean the intrinsic value of that company
is down and so for us when we have that
long term view we know that when there
is a recession or when the markets are
down we love that because then we can
buy these amazing companies that we know
are gonna be around for the next 10 20
30 40 years and we know that they're
just gonna continue to grow and we can
buy them at a discounted price you know
and the sooner that you can get in on
investing in these amazing companies the
better because with each day they tend
to appreciate in value so maybe you can
share about you know what
are the different types of investments
like real estate stoks and all of those
types of things yeah so there's many
different investment vehicles there's
real estate everybody knows about that I
love real estate we both do I own real
estate you can't ever go wrong investing
in real estate I think real estate is
amazing real estate has a place in a
portfolio but you've got to know the
pros and cons of real estate I love real
estate because land is always going to
have value always appreciate over the
long term with real estate though you're
gonna have more of your money typically
tied up in one property or maybe a few
properties and it's a lot harder to
liquidate that and so if you need the
money from real estate you can't just
sell it just like that
case in point at a time like this if you
got a property that you want to sell you
need the money from it you can't just
put it on the market and tomorrow it's
gonna sell usually is a couple months
process to sell property so it's not a
liquid it's not a liquid yeah it's more
of it
yeah it's it's harder to liquidate that
investment and sell it and get out of it
and that's why real estate is better
over the long run on the other hand
stoks which basically is just owning a
share of a company a publicly traded
company any company that's listed in the
stok exchanges and there's stok
exchanges and some of the biggest
countries in the world united states has
their exchanges Canada has the Toronto
Stok Exchange USA has the New York
Stok Exchange there's of course in
Europe and Asia and all over the world
you can buy these companies that are
public companies all of their financials
their balance sheets are public
information so you can before you invest
in these companies you can see you can
look at Amazon's balance sheet you can
see what their profits are you can see
what their expenses and the revenues are
you can see all that information you can
see their top investors and who actually
invest in those companies you can see if
their revenue is increasing each year
you can see if they're paying out
dividends there's you can see everything
it's open because it's a public company
yeah so all that information is public
and I am you if we want to we can
actually purchase and own shares of that
company so think of all the biggest
companies in the world that are public
ones that you use every day you
you can be a shareholder of those
companies and what I love about
investing is I don't need to be a genius
okay I don't need to be Jeff besos the
founder of Amazon I don't need to be
Elon Musk from Tesla I don't need to be
Mark Zuckerberg I mean these are
incredibly driven intelligent amazing
human beings at what they do as an
entrepreneurs that have built huge
companies and if you want to pursue that
you absolutely can with your own
e-commerce business if you'd like but
what I love is I don't have to be that I
can invest in them I can invest in a
Jeff besos and an Elon Musk and a Mark
Zuckerberg and all of these incredible
entrepreneurs and what I love about
investing in stoks is I can diversify a
lot easier than I can for real estate
most often in real estate you just might
buy a property or a few properties in
your local city and that that can be
great but it's harder to diversify you
need to have more money borrow more
money if you want to get a mortgage to
own many different properties it's all
kind of within a certain City stoks on
the other hand I can own a variety of
companies across many different sectors
okay so I can own tiknology companies I
can own consumer staples and consumer
good companies I can own real retail
companies I can own financial companies
like banks I can own real estate even on
the stok market there's companies that
hold real estate they're known as a REIT
a real estate investment trust so I can
buy a company that owns commercial real
estate and buy shares of that company
and benefit as the real estate market
goes up needing to actually purchase
commercial real estate yourself and
manage it exactly I can own residential
real estate I can own senior housing you
know I can own a variety of different
international real estate if I wanted to
as well so you can diversify a lot more
and that's always one of the most common
principles of investing if you diversify
across many different sectors and
companies and you can even invest
internationally then you know there's
gonna be times where some some sectors
are doing you know not as good others
are really growing and strong like
tiknology right now and then there's
going to be times but overall when you
look at your overall
Folio when you're diversified you'll be
you're managing your risk in a lot a lot
of different ways yeah and I would say
that diversification if you guys have
read the book money master the game by
many master the game by Tony Robbins he
interviews Ray Dalio one of the greatest
investors of all time he toks a lot
about diversification and the importance
of that and it's the same thing with
your e-commerce business you want to
make sure that you don't have all your
eggs in one basket you build up your
store on Amazon but you eventually also
want to sell in Shopify so they are not
dependent on Amazon in case Amazon
something happens to them or they
suspend your listing or whatever
same thing with investing the more you
can diversify yourself have owning
companies across different markets even
across different countries the more
secure you are in the sense if one
market collapses or something happens to
a company a company goes bankrupt then
you're not as you know if you had all
your money in that company well then
that's a loss so diversification is key
and one way you can diversify without
having to own so many different stoks
is by investing in an index fund so do
you want to tok about index spies yeah
and just just even just a clarify to you
there's I mean that beyond stoks and
real estate there's bonds bonds are
there's government bonds corporate bonds
and junk bonds this is debt so for
example government bonds are more
secures more known as a fixed income
investment it's not as risky as buying
individual stoks because a government
bond is backed by the government which
is the most secure more than any company
and then obviously corporate bonds junk
bonds are kind of like startup company
is not as secure higher risk but you can
tend to make more money from that so
there's many different investors
vehicles I don't yeah there's many
different ones I don't think we need to
go into all of them there's different
ones for different purposes but exactly
I you know we love stoks and there's a
lot of great opportunities right now
we've been buying a lot in the last
month and this month as well because the
markets have been down but in terms of
index funds yeah yeah in the power of
index yeah so index funds if you were to
ask Warren Buffett who is one of the
greatest investors of all time he is one
of the richest man in the world he
someone that we both look up to learn
from he has a big company called
berkshire hathaway and we learn a lot
from him but him as well as many other
the top investors such as Jack Bogle
who's the founder of Vanguard big name
people that you might not recognize know
the names of but most of them they say
for the average person to buy what is
known as an index fund an index fund is
basically it's kind of like a mutual
fund but it's not actively managed it's
more of a passive investment so there's
something called the S&P 500 the
Standard & Poor 500 which consists of
the top 500 companies in the United
States now you can buy individual stoks
and buy Amazon and Apple and Tesla and
Facebook and Bank of America and all
those different ones but there's more
risk involved in owning individual
stoks and so that's why an index fund I
can instead buy one stok that owns the
top 500 companies in the United States
the S&P 500 and by owning that one stok
it it's like owning a piece of all of
those companies I'm more diversified
that way that if one of those companies
suffers and drops oh and maybe even goes
bankrupt my investment is fine because I
still own you know this whole broad
array of industries and many different
companies and so most stok pickers most
mutual fund managers okay and a mutual
fund is just a manager that is picking
and choosing a variety of different
stoks and then you're paying a fee okay
the fee gets deducted that you're you
know that costs you money what not for
this person to manage it they found that
96% of stok pickers the mutual fund
manner managers can't even beat the S&P
500 so you're better off just owning an
S&P 500 index fund over the long term
over the next 10 years most mutual fund
managers can't even beat that and if you
want to learn more about that money
master the game by tony robbins great
great book recommended a's it's got one
called unshakable as well which is a bit
shorter that teaches a lot of the same
stuff but index funds are great because
you don't just have to own that you know
you if you want to own the S&P 500 you
can very low fees
involved in that like very hardly
anything but I can also own an index
funds of any sector so I can own I can
own for example an index fund of oil
okay all the oil companies are the
biggest oil companies I can own an index
fund of the top Airlines okay I can only
index funds of the top real estate
investment trusts I can only index funds
of a small cap companies okay so smaller
companies I can own an index fund of the
total stok market or even the global
stok market the whole world the top
companies in the world I can own an
index fund of emerging markets markets
that are up-and-coming
or of a specific country like the
Toronto Stok Exchange in Canada so I
love index funds because I I can benefit
from a variety of different sectors it's
a lot lower risk and then just picking
individual stoks and I think that's a
staple that everybody should start with
and specifically it because I know
you'll probably ask which ones do we
recommend well first whatever I
recommend I'm just gonna I can't
recommend these to you I'm just gonna
share what I own and what I purchase and
then you do your research and you
determine for yourself if you want to
purchase them but I love Vanguard
Vanguard is one of the biggest they're
also known as ETFs exchange traded funds
Vanguard has the lowest fees there's
also a shares there's a variety of
companies and they trade on the stok
exchanges but Vanguard is great they
have one the stok symbol for that is vo
o okay vo o Lou and they also have
another one I think it's a total stok
market which is VT AVT or VT I might be
the global one but I love Vanguard for
that reason and you can look them up if
you like and do more research on it and
Jack Bogle the founder of Vanguard he
passed away but he's got some good books
and resources as well yeah yeah and also
just a note you touched on small cap
companies and so there's small cap mid
cap large cap companies and you know you
know that the term of you know high-risk
high-reward it applies here so for
example if you are wanting to take on
more risk you could invest in more of
those
small cap companies meaning you you get
more for what you're paying but you're
taking on more risk because they're
smaller companies they don't have this
much cash flow yet they're not as
established versus if you're investing
in a large cap company for example
Amazon Apple you know these Facebook
these are really large cap companies are
trillion dollar companies when you
invest in them you're paying a lot per
share but you're reducing your risk
because they're very established they've
usually got good cash flow really great
management and so that if if you're a
beginner investor it makes more sense in
my opinion to be looking at these large
cap companies even though they cost more
per share you're reducing your risk
because you're not you're not pretending
I think a big part of investing is you
got to humble yourself and more Intel
room Buffett toks about this you got to
humble yourself so that you can just
determine what you know and what you
don't know and only invest in what you
know and for a lot of these small cap
companies they might be tempting but if
you don't understand the industry you
don't ya get it don't invest in it
because there's there's more risk there
if you understand something and you can
dive into the books and you can
understand the business you're gonna
have more success with that because you
can you can understand it so you can see
if there's something going wrong there
and you can keep up to date with it but
nonetheless the large cap companies tend
to be just less risky because of their
size yeah you know we we are very
conservative investors because with the
money that we make our number one goal
is not to lose it and just to have that
money grow and compound over the long
term so we don't really invest in things
that are really risky I'd say though
there is like a small percent where we
do invest in more riskier assets I'd say
case in point would be like the cannabis
sector in industry we you know we like
the the cannabis companies it's a new
market that's growing in the US and
Canada as well as in Europe and so
there's companies are not as established
there you know there's it's more
volatility I mean the cannabis up and
down you know they they've had some
rough times to establish the market
because even the government the laws are
being established with that and so we
know the risk involved in that we're
we're gonna you know we invest a certain
amount in some of them canopy growth or
aurora cannabis and some of these
companies that are some of the bigger
ones but we understand the risk involved
in that and that's a very very small
percentage of our portfolio most of the
companies and the businesses that we buy
are the biggest ones the biggest
companies in the United States in Canada
in the world as you said you know we
both own Apple Amazon Google Facebook
and part of which you alluded to it is
investing what you know I will tell you
guys building your own online business
is actually one of the best ways to
become an investor to learn more about
investing people ask how do I learn
about it we both learned just from
running your own businesses because when
you run your business you're gonna know
bookkeeping and and some basic
accounting and you're gonna know the
industries and whatnot and because both
of us we have used and worked with
Amazon Shopify Google Facebook these are
parts of our businesses Apple I mean if
you look around our house like we use
all of those companies on a daily basis
they're a big part of our lives
and our businesses but because we're in
business with them we understand their
businesses pretty well we understand and
see the potential of Amazon and Shopify
and Google and you know where youtubers
all of those things so you know when you
when you're an online entrepreneur like
even zoom you know zoom and Salesforce
many of these companies that we use
slack you can behind there's so many
different ones but that's a great way to
learn and just understand that as you're
building your business it will actually
help you as an investor but we invest in
the biggest one the biggest banks all
the big ones in the US and Canada in
Canada Bank and Nova Scotia Bank of
Montreal TD Bank Royal Bank CIBC - Bank
of America Wells Fargo Citigroup
JPMorgan Chase I mean Goldman Sachs
Morgan Stanley like the biggest biggest
companies were investing in and we
believe in over the long term and I can
I can list I I'm not gonna listen to a
whole portfolio there's over a hundred
stoks but just to give you guys an
example of
by the way less is sometimes more yes
when you spread yourself too thin and
you have you own a hundred stoks well
okay you can own a hundred stoks or if
you put you know maybe owned 50 stoks
and invested more into those stoks for
example more into Amazon or more into
Shopify you'd probably have a larger
return rather than kind of you know
investing in some of the smaller
companies are just spreading yourself
too thin so I think also considering
that but yeah just to that point I
wouldn't recommend like I own over 100
stoks I wouldn't recommend that I need
to rebalance my portfolio at some point
sell certain ones I plan on doing that
as something you should do every year or
so but but yeah it's not recommended to
own that maybe I should yeah yeah and I
just want to kind of share that you know
at the beginning of this video I shared
with you guys that I've been investing
for a couple of years now and I'm not an
authority place of in a position where I
could be giving you guys advice but
nonetheless does not mean I don't invest
you can invest right where you are right
now you don't need to know everything
nobody does know everything but you
don't need to learn a ton to invest your
first dollar and so wherever your you
are right now I think it should be a
time you know it's great that you're
considering investing but the sooner you
can get started the better and I don't
know if we're gonna touch on compounding
and dividends and will not touch on that
today but the sooner you can invest the
better and just learning on how to make
a more safer investment a more secure
investment where you're taking on less
risk so again like if you just invested
in an index fund great that's a great
way to invest your money or even if you
just invested in one of the big five
companies you know the five though of
the largest companies in the entire
world I can almost guarantee you because
I can't guarantee you but I can almost
guarantee you that five years from now
your investment is going to grow and so
wherever you're at right now you can you
can move forward but so let's actually
dive in and to how can how can people
start investing and what's the next step
yeah so you're gonna if you want to
invest in the stok market you need a
brokerage account okay a brokerage
account is like an online bank account
you set it up online
and you're gonna transfer money from
your bank account okay so whatever your
bank is you transfer that to this
brokerage account this brokerage account
you're gonna log into it you'll see how
much cash that you have there and then
through that you can purchase whatever
stoks are available on the stok
exchanges and so you would do a search
for the stok symbol or the tiker okay
that usually it's just a few a few
letters right so you do a search for
that and you can see what it's trading
at and then you could put in what it's
called a buy order where you can set you
can either buy it based on the market
price of it or you can actually set the
price of what you're not willing to pay
more than this so you know if you wanted
to buy Amazon right now I forget what
Amazon is at twenty five hundred dollars
a share or so right now so it's a pretty
expensive but you would put in I'm gonna
buy one share of Amazon let's say you
don't want to pay more than you know
it's trading let's say at twenty five
twenty five hundred you can say hey you
know what I'm gonna pay two thousand
four hundred ninety five dollars I'm not
gonna pay more than that if someone is
selling it though okay because to buy
shares of a company if someone needs to
be selling shares the company so someone
is you're buying sheriff's from someone
else they're gonna ship sell shares and
if they put it at that price then you're
gonna buy those shares at that price and
so it diff you know every day the prices
go up and down and whatnot but um is
gonna usually be based on where you live
okay so if you live like I can share
we're from Canada that's where we
started investing I the brokerage
account that I use was Scotia I trade
which is part of Bank of Nova Scotia
another one I use as RBC Direct
Investing
which is part of Royal Bank of Canada so
usually the banks the big banks you'd
want to go to them and they usually have
a brokerage account if you if you're in
the United States there's many different
ones from Charles Schwab to fidelity to
Interactive Brokers many different ones
they all pretty much do the same thing
the only difference is that when you do
buy a stok you're gonna typically pay a
commission or a fee the fee is going to
depend on the brokerage account
I remember in Canada
it was like $5 I'd have to pay per per
share and if depending on how many
things I was buying or selling in a
month it would go down to a certain
price some of them you can just pay $1
you know some of them are cheaper so
some incentivize you there some of them
are free some of them you there's no
Commission no fee on trading and
tachyonic and I can list a few that
Tatiana can link to below for you guys
if you're in the US or international
that I could recommend for you so there
there's there's you know you can trade
on your app of phones but pretty much
they're all the same they just have a
different interface you know we use
Interactive Brokers and to be honest I'm
not a huge fan of them like I wouldn't
you know sign up with them again yeah
their web interface is so slow and
delayed and I usually usually use our
phones the app for it so I wouldn't
really really recommend that one to be
honest with you but there's many other
great ones and you could do research for
it and even if you aren't happy with the
one you're using you can transfer all of
your positions to from one to another
okay so don't sometimes people they just
spend too much time researching things
and don't realize you can change at any
time so they all pretty much serve the
same purpose but since finding a
brokerage account they're free to set up
you usually have to go through some
paperwork to set it up but once it is
set up then you just transfer money into
it you can buy and sell through that
yeah yeah and so you know a lot of you
guys are probably wondering well I want
to learn more how do I learn more about
this and so I'd like you to share that
but before I do one thing I love about
having a brokerage account and being an
investor and trading stoks is that I
can do it myself and I love when I can
take responsibility and I can involve
myself like I I'm not coming
I'm not comfortable handing my money to
a financial advisor and having them
invest it for me I'd rather empower
myself to learn from books do what I got
to do to educate myself on money and
then make my own decisions
and and that feels very empowering for
me and that way I have full
responsibility over my finances so how
can people learn more about investing
and where to get started well you know
that's just a great point just it
touch on that I think a lot of people
they're intimidated by investing they
just want someone else to do it for them
big mistake no one's gonna care about
your money as much as you do
okay and most and there's me plenty of
people that are gonna try to sell you
and convince you why they should manage
your money for you okay because they're
they make money from that so most
financial advisors okay are usually
salespeople banks of course one of the
way they make money is to get you as a
customer through their checking's and
savings accounts but really it's to sell
you additional services so the banks
when they have your trust they want to
handle your investing for you and
provide a financial adviser and whatnot
but for the most part you got to
understand they're able to provide that
for you because they get a commission on
the stoks they recommend to you which
might not be the best stoks for you but
are limited out of the pool of products
that they have available that they can
recommend and most financial advisors
are not successful and I don't know
about you I personally am NOT gonna take
advice from someone that has less money
than me when it comes to investing or
someone that's not where I want to be I
think you can go to experts and
financial advisors for coaching but you
still got to make their decisions and
understand the decisions that you make
and the investments that you make and
that's just the reality of it and that
just goes for your business for
accounting we don't like accounting I
prefer not to learn anything about it
but I need to understand the decisions
and the basics of it in my business it's
the same thing with your money as an
investor so the way to get started
learning a few resources I can share
with you guys I originally started
learning from books the first book that
I read was the wealthy barber by David
Chilton it really taught as more about
mutual funds which I as I alluded to I
don't really recommend when there's
index funds today but really taught me
about compounding and the earlier that
you start the better that if you start
early and I start when I was eighteen
five hundred dollars in a bank of
Montreal mutual fund that if you just
buy and you rien you add more money to
it okay where every month there's a
principle you pay yourself first you
take 10% of what you make you put it
aside and you invest it that if you just
continue that when you're young for the
next 20 30 40
years fifty years you won't become a
millionaire there's great books the
automatik millionaire by let's go what
his name is but there's many books that
teach compounding and paying yourself
first and something called dollar cost
averaging where you buy every month
sometimes you buy high sometimes low but
it kind of averages itself out over time
but there's some basic books like that
that can help you so books that I really
would recommend though I'm not sure if I
would really recommend to dive into
those those are really good beginner
ones but I think the best one I've come
across is money master the game by Tony
Robbins unshakable by Tony Robbins he
interviews the top fifty billionaire
investors and puts it into a book and
helps with the mindset of it and that's
the foundation of what we both do with
investing beyond that you know if you
really want to study stok picking how
to evaluate a business it'd be studying
Warren Buffett he's got books Benjamin
Graham who is Warren Buffett's mentor
wrote a book in the 1940s called the
intelligent investor Warren Buffett
learned almost everything he knows from
Benjamin Graham to many other investors
Sir John Templeton George Soros Peter
Lynch there's many other investors but
from their books is where I've learned a
lot from and then a big part of what we
both do is every day we're checking the
markets as part of my morning ritual
we're here at this time 8:30 a.m.
it's 9:30 a.m. Eastern Time when the
stok markets open so I check my app and
the website of Yahoo Finance my favorite
website just to read all the latest
artikles what's going on in the stok
markets and specific companies there's
four great artikles with great investing
advice that can teach you a lot of
things there too and that's mostly been
my education and then just learning as I
go but books and reading a lot almost
every day has been my ritual so I would
stress to just take this upon yourself
this is a way that you can you know do
that self education because you know if
you decide to pass on your money to
someone else and they lose that money
it's not their fault it's your fault and
so ultimately like their
responsibilities on us and so I
encourage you to edit it yourself but
also real
you know that you can start investing
today it doesn't have to be this big
thing I would also add that if you sign
up for a brokerage account most
brokerage accounts have paper trade or
paper money where you can basically
practike stok trading so for example
when I first started investing in Canada
I had a Scotia I trade account and I
would practike trading with this fake
money and it taught me how to do these
trades and it just gives you it's like
it's like a game and it helps you
understand before you invest the real
money so I would definitely look into
that as well but we could go on and on
about this this is very exciting but
hopefully this video was helpful for you
guys Thank You Stefan for all of the
great tips and advice if you want more
Stefan's got some amazing videos on his
YouTube channel project life mastery he
even opens up and shares his portfolio
he shows the stoks that he buys is very
transparent and so if you guys want to
see more of that you can head over to
his channel I'll link him down below in
the description I'll also link all of
the resources whatever we mentioned this
video down below so be sure to check
that out and if you guys have questions
please feel free to comment we'll do our
best to answer them for you today other
than that you have anything to add no I
just I agree with what you said you know
getting started earlier that you do the
better but of course making sure that
financially you're prepared that you're
responsible that you're not putting your
life savings into an investment make
sure you have common sense and
responsible with your investing I think
that's the key thing and don't look at
it as a get-rich-quick
I think people in that mentality just
get in trouble so make sure you know you
got to be prepared mentally and
financially to start investing but once
you are it's one of the most important
decisions you'll make absolutely thanks
for watching guys take care