I am interested in finance and investment. I am currently 23 years old and I would like to become financial stable by 33 years of age. I am currently researching about stock investments and other ventures but I am quite overwhelmed. May I have some advice about finance (stocks and investments) ? I appreciate it.
I currently attend Florida State University and I am studying International Affairs. I am interested in finance because I would like to enhance my financial education.
Have an Answer?
Unfortunately no one has a for sure answer to that question. You may have to define what you mean by being financially stable. If you are talking about being able to retire, I think the odds are very difficult without running into some luck. There will always be 2 parts of an equation when it comes to investments: risk and return. Usually the higher risk the investment (risk that you can lose your money) the higher the potential returns are. You just have to decide what balance of risk and return you want to take on. As a 23 year old you have a long life ahead of you, so my advice would be to take on more risk now while you have time. The older you get you should be less willing to take risk, due to not having the time to make the money back. If you are really interested in investments, I suggest studying economics (both global and domestic) and market analyst. I personally listen to bloomberg radio for 2-3 hours everyday while driving to and from work. You get a lot of market information so you can make informed decisions on where to invest your money.