Your Questions About Investing For Dummies

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Michael asks…

What are some good books for investing money or owning a business?

I am wondering what are some good books on investing your money really well or owning your own business and stuff like that.

Or like how to buy real estate smartly and other things of that sort.

Justin answers:

A good starter book would be Investing for Dummies, available at your local library for free.

Robert Allen has some good books on real estate:
Creating Wealth
The Road To Wealth

Ken asks…

What is they best way to start investing money?

Should I try a website like etrade or pay a professional to invest my money? Or is there a better way? I have no experience in investing. I already put money into a 401k, but would like to learn and invest myself.

Justin answers:

Before you spend $0.01 on any investment, you must know what you’re doing, why you’re doing it and how to do it. Before you invest in any security, the first investment you should make is in yourself, and the best investment you can make is by educating yourself.

Begin your education by learning why you should invest and the importance of being able to make your own decisions or how the pro’s make theirs. Start your education by reading “Investing or Dummies” by Eric Tyson.

NO you should not open a brokerage account any where until you know what you’re doing, especially since you admitted you have no experience with investing.

Since you have an 401K account, you should contact the trustee for the plan (your HR office can help you with this). Have the trustee cover your plan with all your options

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