I Went From Investment Novice to Stock Market Aficionado In 10 Days – Here’s How I Did It With Blinkist
For my New Year’s resolution this year I decided to dip my toe into the world of investing. So, one dark December night, I began my journey to learn more about the complicated world of finance.
Unsurprisingly, the journey was not without challenges; the stock market jargon was as foreign to me as calculus – terms like ROI, RRSP, and ETF were enough to make my head spin.
However, after hours of late-night research I finally found two invaluable resources – Blinkist’s 10 Days To Smart Investing course and Robert Kiyosaki book Rich Dad’s Guide To Investing both of which are conveniently accessible via the Blinkist app. I soon discovered that the Blinkist app is much more than financial knowledge, it’s a true ocean of wisdom.
With more than 6,500 non-fiction books and counting, Blinkist simplifies their contents into engaging 15-minute reads or listens, perfect for those who crave knowledge but are short on time.
The Three Things Every First-Time Investor Should Know
I began my journey with Blinkist’s 10 Days to Smart Investing course, a playlist of financial literature designed to equip beginners like me with the basics of investing. Over the ten days, I encountered a series of digestible lessons covering every aspect of investing – right from saving money, understanding interest rates, and recognizing different types of assets to more complex topics like portfolio diversification, stock-picking strategies, and interpreting market signals.
Then I consolidated my learning with the Rich Dad’s Guide To Investing, a bestselling parable by financial guru Robert Kiyosaki.
Rich Dad’s Guide to Investing
Rich Dad’s Guide to Investing
- 18 min reading time
- audio version available
Here’s what I learned:
1. Decide What Type Of Investor You Are
The first thing I learned was that deciding what type of investor you want to be depends on your risk tolerance, financial capacity, investment goals, and time horizon. Two primary categories of investment are short-term, which involves buying and selling assets quickly for profit, and long-term, which allows more time for compounding interest.
Short-term investing, such as day trading or swing trading, can offer quick revenue but can be risky due to rapid market movements.
2. Assess Your Financial Situation Before Investing
Next, it’s crucial that you take a realistic look at your financial status. It’s necessary that you possess a certain amount of savings before you start exploring the world of investments.
The exact amount is subjective, but financial experts suggest clearing all your debts, establishing a contingency fund, and making contributions to your 401(k) before you begin investing elsewhere. Scrutinize your time scale and available resources.
There’s an inherent risk in investments, so it’s vital that you comprehend the exact amount you’re prepared to risk.
3. Start With Stocks, ETFs and Mutual Funds
Finally, individual stocks are a good place to start for beginners, as they are comparatively simple and fun to experiment with. Plus, they do not require a massive initial investment.
You can start gradually, gain some experience, and improve your investment as you become more comfortable.
In addition, mutual funds, particularly exchange traded funds (ETFs), are a good alternative for those looking to broaden their investment horizons. When investing in an equity fund, you’re effectively purchasing a large selection of stocks, albeit on a smaller scale.
The investment portfolio is curated by experts which ensures diversification and reduces the research workload associated with buying individual stocks.
Ten days after my journey to demisty the world of investing began, I found myself on the other side, no longer dazed or confused, but aware and excited. Whether you’re just starting out or seeking to broaden your existing knowledge in investing, countless gems of wisdom await you on platforms like Blinkist.
So, for anyone desiring to learn something new, make Blinkist your companion.
Investment Know-how In 15-Minutes
With our busy lives, many of us struggle to find time to read reputed investment classics like The Little Book of Common Sense Investing or Thinking, Fast and Slow. Blinkist streamlines this process, allowing you to comprehend these influential titles in just 15 minutes, making it a valuable resource for everyone from high-powered CEOs to full-time parents.
Blinkist continually updates its library with selections from The New York Times bestseller’s list and new recommended reads based on trending topics and contemporary issues. As a result, Blinkist offers ongoing opportunities to learn impactful insights from some of the world’s most important authors, ensuring you’re always up-to-date with the latest in investment knowledge.
Blinkist has a vast library boasting 6,500 titles, with an exciting addition of 70 fresh reads every month to satiate your hunger for learning. Mull over the wealth of knowledge spanning across a wide spectrum of 27 assorted categories tailored to serve you.
Blinkist Helps Users Make Real Change
Over 28 million users, are using Blinkist and some are making profound changes to their lives based on what they learn. A recent US survey revealed that 87.5% of 3,500 users consistently implemented life adjustments based on the insights obtained from Blinkist.
Embrace the joy of discovery, comprehend diverse viewpoints, and allow Blinkist to enhance your life.
“Time is everything. It’s all we really have. Blinkist is useful because reading is powerful. It helps me to learn every day.”
One Of The World’s Best Apps
In 2018, Blinkist’s tech and design gurus embarked on an adventurous mission to revamp their app, making it more user-oriented than ever before. The app’s transformation was so impressive that it caught the attention of tech giant Google, earning Blinkist a coveted Material Design Award.
Not only this, but the United Nations also recognized the contribution of Blinkist to learning and education, honoring it with a World Summit award in 2016. The accolades didn’t stop there – Apple, the pinnacle of technological innovation and design, lauded Blinkist and declared it one of the world’s best apps in 2017.
There’s a world of finance and investment knowledge just waiting to be discovered in Blinkist. Take the first step on your own learning journey today and start your own 7 day free trial.