Investing is one of those things that is completely confounding if you’ve never done it before. For example, I have no idea whatsoever how to even get started investing my (meager) earnings, much less which companies to invest in. How does that work? Where do I go? What’s with that bell they ring on Wall Street, anyway?
I honestly cannot answer even one of those questions.
Luckily, there are sites like Simply Wall St out there to help newbies like myself jump into investing. Oh, and they’re also helpful for anyone who is a casual investor already but is looking for a new, more manageable way to do it.
Simply Wall St will start you at the beginning by helping you figure out your investment strategy. They’ll then help you find companies that match your strategy and conduct research on them before you decide to put your dollars down. Their system is best suited for new and casual investors who are looking to make long-term investments as opposed to short term, emotional ones.
They’re different from other online investment companies for two main reasons: the way they present the data and their “snowflake” strategy.
The “snowflake” is the Simply Wall St way of analyzing each company. Each snowflake has five different areas – income, value, future, past, and health – and there are 30 checks within those five areas. Simply Wall St uses this methodology to determine whether or not a company is a good investment, keeping in mind that each “snowflake” can change over time.
Simply Wall St has also done away with the time-honored (and time-hated) spreadsheet and instead presents all of the data about your investments in infographics, a unique one for each of the companies you’ve invested in. No more columns and rows – just visual pleasing, easy to read images providing all the info you need.
The site is currently in beta, which is great for you because it means it’s free, no matter how much you utilize it. Once they’ve fully launched, Simply Wall St promises to always have a free option available, although with all the extra dough you’ll be making with your new smart investments, you’ll probably be more than willing to pay them, right?
If you’re like me and even the thought of trying to get started in investing on your own makes you want to close your computer and walk away, turn to the experts at SimplyWall.st. You don’t have to make it on your own.
