How to Start 2022 with Good Investment Habits
Despite the uncertainty going into 2022, there are many tried and true investment tips that can keep you on the trajectory for a healthy year in your investment habits. Now is a great time to begin forming those habits to guarantee financial security later down the line. You can consult our article on general investment tips for beginners here, or keep reading for more tips as we start the new year.
Use financial advising tools.
There can be overwhelming amounts of information on the internet advising you on who to invest in, and though these suggestions can be beneficial and well-researched, beginner investors may find financial advising services to be more helpful getting started. We’ve done both a brief review of some top investment apps as well as an in-depth comparison of Fidelity and Robinhood, the leading apps for investment and portfolio management services.
Forbes Advisor recently provided an overview of additional investment apps that may suit investors of all backgrounds, supported by research and app trials. Among their rankings for 2022 are Vanguard, Marcus Invest, and Stash.
Stay informed about the economy.
It may seem obvious, but keeping an eye on current events affecting the economy will be a necessary gauge if you’re looking to invest in stocks. Looking ahead into 2022, J.P. Morgan strategists say you can expect growth in industrials, healthcare, financials, and tech sectors. Additionally, they note that “policymaker priorities, healthy businesses and consumers, and continued innovation” will be the main factors to drive the year. Read more about those factors here.
Pay attention to both short-term and long-term investments.
Not everyone may think about the fact that managing your finances in the short-term is critical to ensuring long-term success in your investments. Solely relying on a savings account for any sort of long-term support can actually involve losing money, so consider different ways to contribute to your savings through investment. You can do this through a 401(k), IRA, or brokerage account, among many more options. NextAdvisor explains more about those options and how they can benefit you.