Author Topic: How to Increase Financial knowledge  (Read 6269 times)

jgg696

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How to Increase Financial knowledge
« on: May 01, 2020, 09:30:28 AM »
Hello!

Anyone have any recommendations for a newbie looking to learn more about stock, mutal funds, whole nine yards to increase financial wealth.  I only recently starting taking control of old 401k , moved it over to an IRA and actually made some gains this yr!  I'd like to expand this to get more out of the articles on here and expand my financial wealth.  Do you all have any books, vids you can recommend or courses?

Thanks!

SteveGood

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Re: How to Increase Financial knowledge
« Reply #1 on: May 15, 2020, 12:16:18 AM »
Hi,

I appreciate your interest, you can watch financial news on the tv, read the news in the top economic news portal on a daily basis. It may help you to increase your financial knowledge.
« Last Edit: May 15, 2020, 12:17:51 AM by SteveGood »

jgg696

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Re: How to Increase Financial knowledge
« Reply #2 on: June 04, 2020, 08:00:50 PM »
I understand , but that would take a long time to gather knowledge.  Looking for a book or online course , etc.

chitown-2020

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Re: How to Increase Financial knowledge
« Reply #3 on: June 08, 2020, 03:16:29 PM »
Hi.   This book is a little dated, but honestly, not much has changed -- I still recommend it to my friends who have this question, and I have to say it got me started successfully.

TITLE:    Wealth of Experience: Real Investors on What Works and What Doesn't

You can find it on Amazon.  Best ROI on $10 I ever spent.

Hope you find it helpful!


GCD

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Re: How to Increase Financial knowledge
« Reply #4 on: June 16, 2020, 07:54:17 AM »
In the past I have taken a few courses like finance for non-financial managers that were great for learning balance sheets, cash flow statements, etc. These are typically taught by accountants and I have always found when you get them talking they have good ideas about investing.
I recently completed a financial analyst course on Udemy that was helpful in learning the different roles and functions in the financial world. This can also help build on skills while the world is keeping us in.
Maybe old school but find a good newspaper that offers a financial section, many of these include articles on individuals financial goals and assessment of their current state and ability to achieve those goals.
Heavy reading, pick up "The Intelligent Investor" or lighter "My Electrician Drives a Porsche" or in between "One up on Wallstreet" - when you read books like these eventually you will find your investment strategy. Everyone has a niche.
building knowledge and experience is a journey, afraid there is no quick and easy step. I caution against spending too much time in the media, being aware of catalysts and trends are important, just don't attach your financial wellbeing to emotions driven by media.

Irish247

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Re: How to Increase Financial knowledge
« Reply #5 on: June 18, 2020, 09:11:03 AM »
I think you made a great move and start by finding this site and forum. There is a lot of information found within the blog, as well as the comments. I would say start with the topics of interest on the blog, and see where it takes you. If you have additional questions you can always post here and get answers. The key in my opinion is to start. There are so many directions to go in, but one thing never changes... you will never be younger than you are today, and the longer you can utilizing compounding interest the better you will be. So, get in the game no matter how large or small you can TODAY. As you grow your knowledge base, and find different avenues of interest go for it. For everyone out there who tells you one way is the best, there are others who will disagree. You just need to do what you think makes sense for you. Find your priorities, make a goal and stick with it for a duration which makes sense. Occasionally review the goal and determine if an adjustment is needed.

Just don't forget to live your life while you are accumulating all that cash! You can't take it with you afterall.

Raghav

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Re: How to Increase Financial knowledge
« Reply #6 on: October 27, 2020, 03:54:36 AM »
Financial tools and apps can be a great way to learn the basics of some financial concepts and you should check out some of them in the area of your interest. Download The Economic Times News App to get Daily Market Updates & Live Business News