How To Make $5,000 Per Month Investing

Time is the most valuable resource, and the earlier you start doing something you like, the better it's going to be. If you, in your teenage years, already realize that you're attracted to investment and want to try yourself in it, you shouldn't wait. You can start investing now, and by the time you're 30, you'll have a decent passive income. 

In this article, I will highlight in detail about how to start investing as a teenager. I will give you a step-by-step plan on how to start doing it. Be sure to read this article to the end.

Step Four: Experiment with training portfolios. 

Creating a learning trading portfolio is a great way to overcome the fear of taking your first step into investing. There are several websites that will help you to invest using virtual money; that is, you will simply practice investing without losing real money. Here are three sites for creating training trading portfolios: Mock Portfolios, Market Watch, and Wall Street Survivor.

The fifth step: is to choose the right, trusted brokerage account for teens. Regardless of which investments are selected, a teenager under the age of 18 cannot handle investments on their own. The teen will need the involvement of an adult to open a guardian brokerage account or to authorize the purchase of certain assets. 

Find out the legal age of investment in your country or your state. Some countries and states define minors as anyone under the age of 18, while others define minors as anyone under the age of 21. 

Also, find out what documents you need to open a brokerage account. In some countries, you may only need a notarized authorization from one of your parents; however, in others, the procedure may be more complicated.

Sixth step: Avoid investment scams. If someone promises you huge profits in a short time, it is better to postpone this idea. High profits in any investment project usually come with a lot of risks. 

If someone tells you that they want to take your money and guarantee a steady return of, let's say, 12% every year, it's most likely that this person is skipping the part about risks. Let's talk about the signs that should alert investors when receiving an investment offer:

1. An unusually high guaranteed return: If a little-known company or person tells you that unusually high returns are guaranteed, be careful.

2. The company that just a few people have heard of: If you've never heard of a company, broker, or advisor, do a little research before you invest. And if a financial firm that seems to have a good reputation only lists a P.O. box as its address, it's best to check it out properly before sending your money.

3. Urgent appeal in investing right now: Scammers usually try to create a sense of urgency by making you think that if you don't act immediately, you will miss out on a good opportunity. If you are being pushed to invest urgently with phrases like "once in a lifetime" or "too good to be true opportunity," just say no.

4. An investment that is difficult to understand: Scammers often use a lot of complicated words and technical terms to make an impression. If you don't understand the asset they are talking about, don't buy it. If they can't explain the concept clearly enough for you to understand it, it's not your fault.

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