The complexity of the stock market is often overestimated. Many students still think that stocks and money are something hard to understand and manage. It may be true, but the abundance of different tools and guides has made it easier to get the hang of how the stock market works.
Nowadays, students are usually willing to take a risk, but also have considerable fees to cover, including their cost of living and education. Thus, learners are usually those in need of proper guidance and investment advice to make things work well for them.
College time is the best period for making one’s first investments. You can get some experience before actually aiming at significant amounts. Moreover, you can make some capital that would serve you well after graduation.
Also, never refuse the idea to look for some assistance. Whether a student is trying to cope with academic assignments or figure out what are the best stocks to invest in, asking for professional help is always a good idea.
When it comes to homework tasks, essays, or research papers, every skillful student knows that googling help me write my paper requests can significantly relieve the total workload during the college year. Why don’t apply the same approach to investing? As in the case of writing services, the assistance of professionals with in-depth knowledge would be beneficial for future investments.
Here are a few pieces of advice that can make your stock market investing a lot easier and successful!
Invest in Your Knowledge to Invest in Your Future
It is a good idea to prepare yourself for a real stock market game by gaining the knowledge and skills necessary. You need to read about all possible options, including managed investments and self-directed investing to choose the most suitable option for you.
Basically, these two ways determine the way your money would be managed. You can use a managed investment option by entrusting the specialist with your money. This professional will create the best portfolio for you, rebalance it, allocate your funds, etc. The only task you are left to do is to fund it.
Self-directed investing requires more effort from a person. You would be the one who funds and handles the portfolio. Thus, you would need to continuously broaden your knowledge regarding asset allocation and other financial transactions. Self-directed investing can also be conducted through discount investment brokers.
Great Games for Learning Stock Market Strategy
Several hands-on games can help you learn how to manage funds and portfolios without investing real money first. Once you have enough experience and training, you can start on your own and go for a big game.
Wall Street Survivor
Wall Street Survivor is a game that lets you invest virtual money in a cartoon version of a stock market. You can get some additional help while choosing stocks as well as adjust your level from beginner to advanced. If you are only getting started, it is an excellent way to obtain materials created by professionals.
How the Market Works
This game offers the same opportunities as Wall Street Survivor, but it has specifically been created to train investors willing to gain experience with new portfolio types.
You can choose different complexity levels, execute market-based strategies, and manage several portfolios at once. The commissions and fees charged from you while playing correspond to the real costs of stock market investment fees.
Young Money Stock Market Game
This game is very realistic and helps young investors to get a better understanding of the stock market reality.
Realistic aspects combine with learning ones for you to get a better understanding of what is going on. There is a monthly contest for those who want to try earning with a real $100.
UpDown game has a lot of helpful insights that serve beginners well. More experienced players can operate in virtual reality just as they would act if they had real money to risk. The game is so close to real conditions that you will not even feel the difference.
Best Investment Accounts for Students
Several investment accounts can actually simplify the entire process for all young investors. New brokers and robot-advisors make it less intimidating to invest.
Young investors can open either open a taxable investing account or an IRA, Individual Retirement Account. The most popular of them are TD Ameritrade, Wealthfront, Betterment, Acorns, Ally Invest, Fidelity, Vanguard, Wealthsimple, and E*Trade.
Best Advice for Investing College Students
The best advice to a college student is to start investing the sooner, the better. You have time to learn, practice, and gain experience before risking significant amounts of real money.
While you are a student, you see risks from a different angle. Investing might not seem that intimidating to you. Education makes it easier for you to cover various aspects of the investing process.
As a student, you are enthusiastic and initiative. You know your potential and realize how investment can help you boost that. Thus, we advise those who have a couple of years in college ahead of them to consider the stock market as a great option to earn money.
It is essential to invest early because you have time and energy to gain useful knowledge. Moreover, you can start with small amounts and then continue with a more complex and diversified portfolio.
As an experienced investor, you can make $1,000 on every $20 you fund – may these numbers serve as the inspiration for you.