How to Start Investing for Beginners – Through the Lens of Michael Moesch

Venturing into the realm of investing, I often recollect my initial days in the digital landscape – both are vast, offer many opportunities, and can be pretty overwhelming for those who stand at the threshold.

Drawing from over a decade of experience in starting and running businesses and their online essence, I’ve realized that the principles governing success in digital marketing often mirror those in the investment world.

My investment journey, which I roll up into my entire career and don’t think of as separate per se, also started when I dipped my toes into the digital marketing world.

Here’s my take on how beginners can embark on their investment journey.

The ‘Why’ Behind Your Investment Strategy

Much like laying the cornerstone of a new digital venture, it’s imperative to decipher the ‘why’ when stepping into the investment arena. Over the years, while launching websites like mesotheliomaveterans.org and addictionhelp.com, I’ve always circled back to the purpose and core objectives.

Similarly, with investing, is it long-term financial stability you seek? Or perhaps, it’s the allure of growing your wealth exponentially (think crypto, NFTs or meme-stocks), or even safeguarding against inflation.

Understand your purpose; it becomes the North Star guiding your investment choices.

Finding the Right Tools and Platforms

Choosing the right platform is important, no doubt, but don’t let all of the options out there paralyze you. There are SO MANY options available to the retail trader or investor, way more than when I got serious about investing, back in 2013.

And, if you’re going to be a set-it-and-forget investor, which for most people I highly recommend, you probably want a clunky platform anyway. Most investors are their own worst enemies when it comes to entering and exiting positions.

That said, the choice is indeed vast, from traditional brokerage accounts that open up a world of stocks and bonds to contemporary robo-advisors that marry technology with financial strategy.

At the end of the day, just like the strategy you look to employ, the same should be said about the tools and platforms you decide to use. Find what works for you based on your needs.

**Note that the tools/links below mostly focus on actual trading platforms, not brokerages.

What I use:

• TastyTrade (Great for Options Traders – I currently use this to execute all of my trades)
• TD Ameritrade’s thinkorswim (TOS) (I only use this for my charts & level II data now.)

Other Trading Platforms Out There:

• Fidelity Active Trader (I actually started with this before moving to TOS)
• Power E*Trade
• StreeSmart Edge from Charles Schwab
• TradeStation

Navigating the Investment Spectrum

As I’ve always advocated in the digital sphere, diversification is crucial. Just as a balanced marketing mix ensures stable growth, spreading your financial bets across stocks, bonds, mutual funds, and even the enigmatic realm of cryptocurrencies, can be a shield against market volatility (usually).

While the digital trends intrigued me, my foray into options trading refined my eye for emerging investment trends. I don’t recommend trading or using options for most people, but options can be incredibly capital-efficient, you just need to know what you’re doing.

Laying the Groundwork with Sound Financial Practices

Just as a website thrives on a robust backend, seamless UI, and quality content, your investment journey requires a solid foundation.

This means setting aside a budget tailored to your goals, ensuring an emergency fund, and addressing any high-interest debt. In the digital realm, no strategy succeeds without solid groundwork; investments are no different.

Continual Learning: The Key to Adaptability

The digital landscape is ever-evolving, and I’ve been a staunch advocate for continual learning. Investments, much like digital strategies, are dynamic. From books to podcasts, and even investment communities – there’s a treasure trove of knowledge awaiting the eager learner.

Here are some books that I feel have profoundly impacted my investing and trading psyche.

I put them in the order that I felt had the most impact on me personally, if there are any books you’ve read you want to share, let me know in the comments below!

My picks:

1. Best Loser Wins
2. The Secret Life of Real Estate and Banking
3. One Good Trade
4. Trading in the Zone
5. The Intelligent Investor
6. Trading Sardines

The Journey of Monitoring and Evolving

Launching a website or business is just the beginning. Continuous evaluation, strategy shifts, and keeping an ear to the ground define success. Your investment portfolio demands similar attention. Periodic reviews, rebalancing, and, most importantly, patience, are paramount. Emphasis on patience.

As an entrepreneur and investor, I understand the trepidations one feels at the start of a new endeavor. But remember, every seasoned investor was once a beginner.

Armed with knowledge, a clear vision, and the tenacity to learn and adapt, the world of investing can become a rewarding journey. Here’s to your financial voyage and the many successes it will bring!