Investing can be a daunting concept.
But it’s not like there aren’t enough resources out there to help.
The problem is choosing which ones to use.
After weeding through numerous investing apps, podcasts, websites, and books, here are some of our favourite resources to help nearly any investor build their expertise.
It’s not an exhaustive list, by any means — but it’s a good place to start.
Why we like it: This eight-part tutorial offers a comprehensive guide for the novice investor. It starts with the question “What is investing?” and progresses into compounding, types of investments, portfolios, and diversification.
Best for: People with little or no background knowledge when it comes to investing, who want to educate themselves before getting started.
2. WEBSITE: Motley Fool
Why we like it: Motley Fool’s goal is to build “the world’s greatest investment community.” It has a variety of resources to choose from, including a website, books, a newspaper column, a radio station, and a newsletter.
Best for: Motley Fool offers something for every kind of investor. They have free features such as a stock-rating service, or fee-based services (their newsletter), so you can choose exactly how you want to learn.
3. WEBSITE: BlackRock Blog
Why we like it: BlackRock is an asset manager, but The BlackRock Blog covers a wide range of topics under the investment umbrella. Its posts are written by CFAs and other professionals, so you’re getting expert advice for free.
Best for: People with a grasp on investing, who want to get more in-depth with their discussion of strategies and products.
5. APP: Yahoo Finance
Yahoo Finance / iTunes
The Yahoo Finance app.
Why we like it: This app allows you to create a personalised list of the stocks you want to watch most closely. It then provides you with a personalised news stream, along with real-time stock market quotes.
Best for: People who are looking for an easy and streamlined way to stay on top of both specific investments and the state of the market.
6. PODCAST: The Money Tree Investing Podcast
Why we like it: This weekly podcast features a panel of four investing experts who interview a special guest each episode about something related to investing, passive income, or personal finance. The panelists then discuss the interviewee’s responses. Recent guests include Preston Pysh, founder of investing strategy site BuffettsBooks.com, and Lauren Brouhard, the senior vice president of retirement solutions at Fidelity Investments.
Best for: People who want a lot of different, educated perspectives on investing. It’s also great for those who want to learn when they’re on the go (like during a commute).
7. BOOK: ‘MONEY Master The Game,’ by Tony Robbins
Why we like it: Life coach Tony Robbins talked to over 50 personal finance legends — think Warren Buffett and Carl Icahn — for research for this book. He then created a seven-step plan that anyone can use to achieve financial freedom.
For a preview, check out Robbins debunking investing myths for Business Insider.
Best for: People with some time on their hands for reading, and who want to learn from other people’s experiences. You’ll walk away with investing tips and life tips.
8. BOOK: ‘The Little Book of Common Sense Investing,’ by John C. Bogle
Why we like it: This book, endorsed by Warren Buffett, explains specifically how to use index funds to build wealth. Author John C. Bogle is the founder of the Vanguard Group and creator of the world’s first index mutual fund.
Best for: People who want to learn why relatively straightforward index funds can be so effective, with an in-depth analysis of investment strategy.
9. BOOK: ‘The 5 Mistakes Every Investor Makes And How To Avoid Them,’ by Peter Mallouk
Why we like it: This book, which Business Insider has written about, points out some of the most common mistakes investors make — and their serious financial consequences. Mallouk is a certified financial planner, asset manager, and the president and chief investment officer of a leading fee-only wealth management firm.
Best for: Investors who are interested in the psychology behind investing, and don’t want to let themselves get in the way of growing their wealth.