New to investing? You're in the right place

Diversification is how you spread your risk among many different types of investments and sectors.  It's important to note that diversification isn't a magic bullet; it can't guarantee a profit or eliminate the risk that you'll lose money. However, if you don't diversify, you're setting yourself up for a potentially huge hit if your chosen investment falters.

If you're looking to get started investing but don't know how, consider dollar-cost averaging. Here's how it works: every month (or any regular interval), you invest a set amount of money—regardless of how your investments are performing. When your investments' values are down and their individual prices are low, you can buy more shares for your money. When investment values and prices are up, you'll buy fewer shares. The concept is to hold steady at your set amount and invest it each month. Despite the inherent volatility of the stock market, the strategy says that your investments tend to grow over time. 

Bank savings account. A bank savings account works great if you're simply putting money aside for a rainy day or for something in the next couple of years. You'll only make a small amount of interest, but you will have easy and quick access to your money (also known as liquidity). 

Investment account. An investment account is offered through a brokerage firm and allows you to buy and sell investments like stocks, mutual funds, ETFs and bonds. There could be an initial minimum deposit and account fees, depending on where you open your account. There are two types of investment accounts: 

• A taxable brokerage account is the most flexible as there are no limits to how much you can invest and no timing considerations on when you can access your money, other than your own. The tax rules are a bit more complex. You'll pay taxes on interest income, plus any short- or long-term capital gains tax on any money you make when you sell an investment that's gone up in value. Finally, you'll pay long-term capital gains tax on qualified dividends. 
• A tax-advantaged account is tailored to a specific goal like retirement or college savings. Earnings grow tax deferred to help you grow your money, but penalties apply to early or non-qualified withdrawals. Some of the most common tax-advantaged accounts include an employer sponsored retirement account, an individual retirement account (IRA), a Health Savings Account (HSA) and a 529 College Savings Account. 

Once your investments are up and running, try to take a long-term view. Periodic losses when the markets are volatile or making wild swings up or down are nothing more than distractions—so don't panic. With a well-constructed financial plan and balanced portfolio in place, you'll be set up for success over the long term. Investing rewards those who are patient and follow a disciplined process.

As you continue on your investing journey, don't be afraid to ask questions and keep learning. Be persistent and get the information you need! After all, investing is one of the best ways to build wealth and achieve your financial goals.