Ask Terry Questions Stock Market Investment — Getting Started

Stock Market Investment — Getting Started

By Terry Savage on February 20, 2019 | Investments

Hello, I am totally ignorant as it relates to the stock market but would like to know how to begin research to invest in “Smart Buildings”. I read that the key players in the global smart building market includes ABB Group, Cisco Systems, Accenture, just to name a few. I’m really interested in understanding this. I don’t have a retirement savings. Thanks so much!

Terry Says

Well, your goals are admirable — but I think you’re starting a bit far down the road by trying to invest in specific industries. Do you work for a company that offers a retirement plan, a 40l(k) plan?  If not, you might want to open your own plan — an Individual Retirement Account (IRA).  You can do that by contacting Fidelity or Vanguard or TRowePrice.  Each has a website and will give you information about opening a tax-deferred retirement plan (IRA).  Then I would start by setting up a regular monthly investment automatically from your checking or saving account to go into the plan.  You will be asked to choose a mutual fund to invest in.  Pick the S&P 500 stock fund.  It is a fund that includes the largest companies in America.  And it will give you an idea of the ups and downs of the stock market.  After doing that for 18 months, please write back and ask your question about specific stocks.

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