For many people, taking the plunge into investing can be a daunting experience. They may have little investment knowledge or limited funds. Joining or starting an investment club is a great way to learn about investing in stock or real estate. Investment clubs enable members to pool their money for joint investment so you don’t need to have massive capital to start investing.
Finding an online investment club
There are many online investment clubs available. To start with, choose an investment club that fits your investing style and interests. Do you want to invest in stock or real estate? If you are a male (or female), do you prefer to join an all-men (or all-women) or mixed investment club?
Finding a good fit is important for an online investment club. Keep in mind what your main objective is for joining a club. If you are new to investing and need support and knowledge, be sure to choose a club that offers lots of hand-holding for its members.
Another important feature of an online investment club is the forum or discussion board. It allows members to communicate with each other since they don’t meet face to face. They can ask and answer questions. Newbies can learn a lot from others who are more knowledgeable and experienced. People from all over the world can join an online investment club. Distance is not a problem as the internet has made it possible for them to stay connected.
Choose a long established online investment club that is in line with your approach to investing. You should contact the club directly if you have any questions. Enquire about its past and current investment performance.
Finding an offline (or local) investment club
For people who have time to socialize, they may prefer to join a local investment club. These clubs are similar to online clubs except that members meet locally, typically once a month, to discuss and evaluate what stocks to invest.
The meetings incorporate educational talks on various investing subjects. You have the opportunity to hear investment experts speak and share their experience – not from someone with textbook knowledge only.
Local investment clubs are often advertised in the local newspaper classified ads. You may also find them through postings on bulletin boards. Your local bank may also have information about investment clubs. Another good way to find a local investment club is through word of mouth. Ask your co-workers or friends. Chances are they may know someone who is a member of an investment club and can make a recommendation to you.