- Investing my own money has always been intimidating to me because I don’t understand the lingo.
- Below are 8 books that helped me save around $ 10,000 by investing without a financial advisor.
- They taught me about index funds, dividends, how the stock market works, etc.
Since my adolescence, the stock market has always seemed complex to me. Investing was never on my radar – that is, until my Chilean father encouraging forced me to open an account with some of my savings when I was 23. I resisted, although my little form of resistance was to quickly bury my head in the sand. I didn’t look at my account for several years because I was afraid of what I didn’t understand.
When my father passed away, I decided it was time to take back control of my finances. Friends recommended me to their financial advisors, but after several meetings to discuss my investment goals (and risk aversion), I left uncomfortable and confused because I didn’t understand the jargon.
I knew I had to learn how the stock market worked before I could make big decisions, advise or not. I wanted to understand the different types of investments, such as individual stocks, mutual funds, index funds, ETFs, and bonds, as well as the monetary difference between active and passive investment.
So I started to educate myself by reading as many books as possible over the past seven years. Over time, I noticed a consistency in the advice I continued to receive, which gave me more confidence in what I was doing. When is it I realized that I was the best person to manage my own money and have been doing it myself for several years. In total, I saved around $ 10,000 by investing on my own instead of paying a financial advisor.