As we approach managing money, we tend to learn how to allocate our limited resources to the things with the largest potential for returns. Shaye Hirsch is an experienced investor with years of experience under his belt. He entered the investment management industry almost 20 years ago, and through the course of his professional career, he has learned some valuable lessons that he is now ready to share.
Understanding investment options
As he begins, all of us have some sort of debt to pay. Whether we’re paying a student loan, a house mortgage, going back to school, or sending our kids to college, every one of us has some sort of payment. But if you’ve set your mind on saving, and using that money to later invest in something, there is no reason why you shouldn’t stick to your plan.
Nowadays, thanks to the rapid advancement of modern technology, the investing world offers a sea of possibilities to anybody with a few dollars and an Internet connection. With this short guideline, Shaye, who has done a number of research, will try to direct you toward the right path, give you the basics, and teach you how to make good investment decisions from the start.
Risks and returns associated with different investments
According to Hirsch, all investments involve a certain risk. After all, there is no winning without risking. But, as he says there is a big difference between investing and gambling. Trading stocks without having the smallest clue about what you’re doing is in fact gambling. Setting aside money, putting it in the best stocks or funds for your goals, and thinking about the long run, that is investing.
Shaye Hirsch, the founder of Brio Capital Management, advises that in order to start investing, first you’ll need to make some choices. First of all, you will need to choose the platform with which to invest. Some of the available platforms include online brokerages, full-service brokers or financial advisers, specialty brokerages, direct mutual fund accounts, and dividend reinvestment programs.
Investment tools and resources
For beginners in investing, Shaye Hirsch recommends buying mutual funds or ETFs until you become comfortable and gain a little experience. You can either go through an online broker or a direct mutual fund account.