Beginner’s Investing Checklist

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Edit or print this checklist to track your progress, take notes, or personalize your investing plan.

A simple, step-by-step guide to help beginners start investing with confidence.

 

Starting Resources

Before diving in, build your foundation with reliable learning materials.

 

📚 Books to Read

  • The Simple Path to Wealth – JL Collins
  • The Little Book of Common Sense Investing – John C. Bogle
  • I Will Teach You to Be Rich – Ramit Sethi
  • Broke Millennial Takes on Investing – Erin Lowry

🌐 Websites to Explore

  • Investopedia – Great for definitions and tutorials
  • Morningstar – Investment research and analysis
  • org – Index investing community and wiki
  • NerdWallet – Reviews of brokerages and apps

Make a Plan & Set Goals

Get clear on why you’re investing and how you’ll stay organized.

📝 Create a Plan

  • Use a notebook, Google/MS doc, spreadsheet or To-do app
  • Outline how much you can invest each month
  • Decide if you want to invest actively (researching individual stocks) or passively (index funds, robo-advisors)

🎯 Set Your Goals

  • Short-term (1–3 years): e.g., saving for a car
  • Medium-term (3–10 years): e.g., home down payment
  • Long-term (10+ years): e.g., retirement

Note your timeframes and risk tolerance for each goal

 

Choose a Brokerage

Where you invest matters. Choose a platform that fits your needs.

🔍 Research & Compare

  • Look at fees, commissions, available investment types
  • Compare user interfaces (mobile vs. desktop)
  • Check for educational tools and customer service quality

💼 Popular Options

  • Fidelity, Charles Schwab, Vanguard (great for long-term, low fees)
  • Robinhood, Webull (mobile-first, more for active traders)
  • M1 Finance, SoFi (great for automation and beginners)
  • Public, Acorns (micro-investing and fractional shares)

📋 List of Requirements

  • Government-issued ID
  • Social Security number or equivalent
  • Bank account for funding
  • Employment and financial information

Open and Fund Your Account

Take action and get your money working for you.

  • Open your chosen account online (individual or retirement)
  • Link your bank account
  • Set up your first transfer (start small, e.g., $50 or $100)
  • Understand any minimum balance or deposit requirements

Choose Your Investments

Now that you’re ready, pick your assets.

  • Choose a mix of stocks, ETFs, or mutual funds based on your goals
  • Consider broad index funds (e.g., S&P 500, total market ETFs)
  • Learn the basics of asset allocation and diversification
  • Avoid chasing “hot tips” or investing in things you don’t understand

🛠️ Starter Portfolio Example:

  • 80% Total Market ETF (e.g., VTI, SCHB)
  • 20% Bond ETF (e.g., BND)

Set Up Automation & Review Schedule

  • Consistency and monitoring are key to long-term success.
  • Automate contributions (weekly or monthly)
  • Reinvest dividends automatically (configure in brokerage account)
  • Set a reminder to review your portfolio every 6–12 months
  • Rebalance if allocations drift too far from your plan
  • Update your goals if your income or priorities change

Disclaimer

This checklist is for educational purposes only and does not constitute financial advice. Investing involves risk, including the possible loss of principal. Always do your own research or consult with a licensed financial advisor before making any investment decisions.