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What are some investing tips for someone who has not invested before?


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Answered 2008-02-20 17:30:20

== == Take some courses in investing. Better yet, take the securities course. In Canada it's called the Canadian Securities Course. This course is expensive, time consuming, arduous, and not for the faint of heart. When you pass this course (It will take about 12 to 24 months part time study) you will know enough to be confident and dangerous. Then....

Seek professional advice from a reputable advisor who in not affiliated with a bank.

Don't do it on your own. You think you know how, but trust me... you don't.

The course will give you enough knowledge to avoid swallowing bad advice from the advisor. What is bad advice? It is advice that is geared towards maximizing the advisors commissions.

Then ask the advisor for a few conservative balanced mutual funds. (You can do this before taking the course if the advisor is someone you trust)

(If he/she fails to tell you about the advantages of front load funds, find another advisor).

Start investing regularly (monthly) immediately.

Ignore the market, and NEVER listen to CNN.

Cheers

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