Atlantanews Online

The stock market is essential to building long-term wealth, however, it can be very overwhelming and confusing. Many new investors simply don’t know where to start.

Jodi Jacobs is an accredited investor, portfolio manager, seven-figure entrepreneur and businesswoman who has more than 20 years experience in business and the U.S. Stock Market. She is the founder of Market Start, the ultimate guide to Stock Market investing, and a pioneer in helping new investors learn how to become successful in the Stock Market.

Step 1: Know Your Financial Goals

One of the biggest problems beginning investors have is that they don’t have a clear goal from the outset. As a result, they wind up wasting a lot of time (and usually money) with investments that don’t necessarily line up with their goals.

Before you commit any money to a trading account, figure out what your goals are and whether they are short-term goals or long-term goals. Some examples of short-term goals might include paying off a car, saving for a down payment on a house, paying off student loans, getting out of debt, or saving for a vacation. Some examples of long-term goals might include saving for a child’s education, saving for retirement, or paying off a mortgage.

Determining your goals yourself puts you in the power position and gives you a clear vision to work with.

Step 2: Determine which account is right for you

Different types of accounts are available depending on your goals, many of which offer tax breaks.

Here are the different account types:

• Brokerage Account — no tax benefit
• Traditional IRA — taxed when capital gains are withdrawn, deposits pretax.
• Roth IRA — taxed upfront, no taxes on withdrawal
• SEP-IRA — retirement accounts for business owners and their employees
• HAS — For healthcare expenses
• Coverdell ESA — For a child’s education
• 529 Plan — For a child’s college education specifically

By determining your goals first, finding the right account for you and your family will be a breeze.

Step 3: Interview at least three different brokerage firms

Even if you do opt to work with a broker, you really need to have a basic understanding of the Stock Market, and the ins and outs of investing, to make strong decisions. Your broker won’t necessarily teach you. Learn all that you can because let’s face it, no one cares more about your money than you do.

This is just the beginning of what you can learn in the stock market. I teach all of this and much more in my course, Market Start.

It’s an essential tool to maximizing your profit in today’s stock market: www.themarketstart.com

Media Contact
Company Name: Market Start
Contact Person: Jodi Jacobs
Email: Send Email
Country: United States
Website: https://themarketstart.com/