According to a Gallup poll, over 60% of Americans own stocks. With the stock market coming off a first-quarter rally and trillions of dollars sitting in bank accounts, more Americans may want to enter the market and begin investing.
Wall Street Alliance Group Partner Aadil Zaman joins Wealth! to break down important tips for first-time investors looking to enter buy into equities.
Zaman affirms an important principle for first time investors: "One of the basic principles is always invest for the long term. All this meme stock frenzy and with Robinhood (HOOD) traders coming in, we tend to see a lot of people are looking for short-term trading. I think that’s a mistake. Most people lose money that way. Have a long-term time horizon. The S&P 500 (^GSPC), there’s never been a 20-year period where the S&P 500 has generated a negative return, right? The 20-year average return of the S&P 500 is more than 9%. In order to make that return, you have to stay invested for the longer period of time."
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