how to do a research for beginners

Research Basics: an open academic research skills course

• Lesson 1: Using Library Tools
• Lesson 2: Smart searching
• Lesson 3: Managing information overload
• Assessment - Module 1
• Lesson 1: The ABCs of scholarly sources
• Lesson 2: Additional ways of identifying scholarly sources
• Lesson 3: Verifying online sources
• Assessment - Module 2
• Lesson 1: Creating citations
• Lesson 2: Citing and paraphrasing
• Lesson 3: Works cited, bibliographies, and notes
• Assessment - Module 3
• - For Librarians and Teachers -
• Acknowledgements
• Other free resources from JSTOR

JSTOR is a digital library for scholars, researchers, and students.

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Welcome to the ever-expanding universe of scholarly research!

There's a lot of digital content out there, and we want to help you get a handle on it. Where do you start? What do you do? How do you use it? Don’t worry, this course has you covered.

This introductory program was created by  JSTOR  to help you get familiar with basic research concepts needed for success in school. The course contains three modules, each made up of three short lessons and three sets of practice quizzes. The topics covered are subjects that will help you prepare for college-level research. Each module ends with an assessment to test your knowledge.

The JSTOR librarians who helped create the course hope you learn from the experience and feel ready to research when you’ve finished this program.  Select Module 1: Effective Searching to begin the course. Good luck!

• Next: Module 1: Effective searching >>
• Last Updated: Sep 15, 2023 7:40 AM
• URL: https://guides.jstor.org/researchbasics

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Libraries | Research Guides

Start your research, purpose of this guide, develop a research question, decide on sources, locate your resources.

• Tips for Reading and Notetaking
• Course Reserves This link opens in a new window
• Cite Your Sources
• Individual and Group Study Spaces
• Make an Appointment to Meet with a Librarian This link opens in a new window

This tutorial on research methods will help you gain practical skills and knowledge you can apply for all research needs.

Scroll down to learn about:.

• Developing a Research Question : How do you get background knowledge? Develop a thesis? Start searching?
• Deciding on Sources : What's the difference between academic and popular sources, or primary and secondary sources?
• Locating Sources : How do you locate articles, books and literature reviews both from NUL and other academic institutions?
• Tips for Reading and Note-taking : What are different strategies for reading scholarly articles and books?

Have a question or need help? Contact any NUL Subject Specialist Librarian for personal assistance.

• Build Background on your Topic
• Build a Question
• Videos: Choose and Search Keywords

Somewhere in between your initial idea and settling on a research question, you'll need to do background research on how scholars in a particular subject area have discussed your topic. You may find background research in your textbook or class readings, academic books in the library's collection, or reference sources.

The databases below compile reference sources from a variety of disciplines, and they can be a great way to consider how your topic has been studied from different angles.

• Oxford Bibliographies This link opens in a new window Offers annotated bibliographies of the most important books and articles on specific topics in a growing range of subject areas. Particularly useful for anyone beginning research.
• Oxford Reference Online This link opens in a new window Online version of many Oxford University Press reference works, ranging from specialized dictionaries and companions to major reference works such as the Encyclopedia of Human Rights, the Oxford Encyclopedia of Food and Drink, the Oxford Encyclopedia of Latinos and Latinas in the United States, and the Oxford Encyclopedia of Economic History, among many others.
• CQ Researcher Plus Archive This link opens in a new window The CQ Researcher is a collection of reports covering political and social issues, with regular reports on topics in health, international affairs, education, the environment, technology and the U.S. economy.

Use  NU Search  to browse for books, reference entries, and periodicals to build background information.

After you have an initial project idea, you can think deeper about the idea by developing a "Topic + Question + Significance" sentence. This formula came from Kate Turabian's  Student's Guide to Writing College Papers . Turabian notes that you can use it plan and test your question, but do not incorporate this sentence directly into your paper (p. 13):

TOPIC: I am working on the topic of __________, QUESTION: because I want to find out __________, SIGNIFICANCE: so that I can help others understand __________.

Remember : the shorter your final paper, the narrower your topic needs to be. Having trouble?

• Which specific subset of the topic you can focus on? Specific people, places, or times?
• Is there a cause and effect relationship you can explore?
• Is there something about this topic that is not addressed in scholarship?

Turabian, Kate L.  Student's Guide to Writing College Papers . 4th edition. Chicago: University of Chicago Press. 2010.

How do you move from a research question to searching in a database? You first have to pick out keywords from your research question.

• Evaluating Sources
• Academic vs. Popular Publications
• Primary vs. Secondary Sources
• Video: Types of Scholarly Articles

When evaluating a source of information, consider both the content of the source itself and  the context in which the source was created.  

CONTENT 

•  What does it say? What is its main point or argument? Relevance to your topic? What new information, facts, or opinions does it include? 
•  Where did you find it? Where was it published? 
•  When was it written? Within the past few days, weeks, or years? Is it historical? Has its information changed over time? 
•  Who created this information? What are their credentials? 
•  Why does this source exist? Is its purpose to inform, persuade, or entertain? 
•  How does it incorporate data or evidence? What kinds of evidence?

CONTEXT  

•  What is the audience for this source? General readers, people who work in a specific field, academics? Does it assume previous knowledge? 
•  Where can you find other information about this topic? 
•  When was this information last updated? Has it been revised, redacted, or challenged? 
•  Who is missing from the conversation? Does it include opposing viewpoints, marginalized voices, or global perspectives? 
•  Why do you need this information? Is it for an academic assignment, work project, personal decision-making, or to share with others?* 
•  How did the information find you?  Was it through a relevance-ranked search, social media algorithm, advertising cookie, or press release? 

 *Sources that may be appropriate for sharing with others, deepening personal understanding, or decision-making may not be appropriate for an academic assignment or work presentation. When in doubt, check with your librarian or professor for more guidance! 

Adapted from  Beyond the Source  created by the DePaul University Libraries .

Not all "articles" are the same! They have different purposes and different "architecture".

• Original article – information based on original research
• Case reports – usually of a single case
• Technical notes -  describe a specific technique or procedure
• Pictorial essay – teaching article with images
• Review – detailed analysis of recent research on a specific topic
• Commentary – short article with author’s personal opinions
• Editorial – often short review or critique of original articles
• Letter to the Editor – short & on subject of interest to readers

Peh, WCG and NG, KH. (2008) "Basic Structure and Types of Scientific Papers." Singapore Medical Journal , 48 (7) : 522-525.  http://smj.sma.org.sg/4907/4907emw1.pdf  accessed 4/24/19.

• What are the differences between types of articles? "Scholarly articles," "trade journals," "popular magazines," and "newspapers" are all referred to as "articles" - pretty confusing, right?! Check out this table which distinguishes between the different kinds of "articles" that could be useful sources.

Primary sources  provide the raw data you use to support your arguments. Some common types of primary resources include manuscripts, diaries, court cases, maps, data sets, experiment results, news stories, polls, or original research.  One other way to think about primary sources is  the author was there .

Secondary sources  analyze primary sources, using primary source materials to answer research questions.  Secondary sources may analyze, criticize, interpret or summarize data from primary sources. The most common secondary resources are books, journal articles, or reviews of the literature. 

Depending on the subject in which you are doing your research, what counts as a primary or secondary source can vary!  Here are some examples of types of sources that relate to dragons in different disciplines:

There are many types of primary resources, so it is important to define your parameters by:

• Discipline (e.g. art, history, physics, political science)
• Format (e.g. book, manuscript, map, photograph)
• Type of information you need (e.g. numerical data, images, polls, government reports, letters)

Look at the  Primary and Secondary Sources  guide for more clarification on what primary and secondary sources are in different disciplines! 

• Find Articles
• Videos: Books at NU and Other Libraries
• Find Literature Reviews

Northwestern has access to millions of articles not available through Google!

From the library website , enter your keywords into the NUSearch search box. All results with those keywords in the title or description will appear in the search results. Limit your results to "Peer-reviewed Journals" for scholarly articles.

For a more specific search,  go to one of the Libraries' many scholarly databases. If you know the name of your database, find it with  Databases A-Z . Find subject-specific lists of databases in our  Research Guides.

Searching a scholarly database is different from using a Google search. When searching: 

• Use an advanced search, which  allows you to search for multiple keywords. "AND" allows you to enter more than one term in multiple search boxes to focus your search (e.g. apples AND oranges) for articles about both. "OR" broadens your results (e.g. apples OR oranges) for articles about either. 
• The results may link to a full-text version of the article, but if one is not available, the library can likely get it for you! Clicking the "Find it @ NU" button  on the database's left-hand navigation will display other Northwestern databases that may have access to it. If we don't have access to the article, request it through Interlibrary Loan. 

Locating Books

To locate a book, use the NUsearch.  The catalog will tell you the location and call number for retrieval. You can also request for books to be pulled and picked up at the Circulation desk of your choosing.

Borrowing Materials from other Institutions

Need to borrow a book Northwestern does not own or have an article PDF scanned and sent to you? Log into (or create) your interlibrary loan account.  You may also check the status of your interlibrary loan requests here. Contact the Interlibrary Loan Department for more assistance.

• Interlibrary Loan Department

• Annual Reviews The Annual Reviews provide substantially researched articles written by recognized scholars in a wide variety of disciplines that summarize the major research literature in the field. These are often a good place to start your research and to keep informed about recent developments.
• Oxford Handbooks Online Scholarly reviews of research in 15 subject fields including: Archaeology, Business/Management, Classical Studies, Criminology/Criminal Justice, Economics/Finance, History, Law, Linguistics, Literature, Music, Neuroscience, Philosophy, Physical Sciences, Political Science, Psychology, Religion, Sociology.

Search for literature review articles in subject databases:

• Type the phrase "Literature Review" (with quotation marks) as a search term OR
• Look to see if there is an option to limit your search results by  Document Type  (this may appear underneath the search box or among the filters on the left side of the search results display).

Be careful The document type "Review" is often used and may identify articles that are book reviews, software reviews or reviews of films, performances, art exhibits, etc.

Need Help? Ask Your Librarian

Created by...

Created and maintained by Instruction & Curriculum Support , with content also developed by Chris Davidson, Jason Kruse, Gina Petersen, and Amy Odwarka (intern, fall 2019). 

• Next: Tips for Reading and Notetaking >>
• Last Updated: Jan 4, 2024 11:08 AM
• URL: https://libguides.northwestern.edu/start-research

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How to Get Started With a Research Project

Last Updated: October 3, 2023 Fact Checked

This article was co-authored by Chris Hadley, PhD . Chris Hadley, PhD is part of the wikiHow team and works on content strategy and data and analytics. Chris Hadley earned his PhD in Cognitive Psychology from UCLA in 2006. Chris' academic research has been published in numerous scientific journals. This article has been fact-checked, ensuring the accuracy of any cited facts and confirming the authority of its sources. This article has been viewed 311,364 times.

You'll be required to undertake and complete research projects throughout your academic career and even, in many cases, as a member of the workforce. Don't worry if you feel stuck or intimidated by the idea of a research project, with care and dedication, you can get the project done well before the deadline!

Development and Foundation

• Don't hesitate while writing down ideas. You'll end up with some mental noise on the paper – silly or nonsensical phrases that your brain just pushes out. That's fine. Think of it as sweeping the cobwebs out of your attic. After a minute or two, better ideas will begin to form (and you might have a nice little laugh at your own expense in the meantime).

• Some instructors will even provide samples of previously successful topics if you ask for them. Just be careful that you don't end up stuck with an idea you want to do, but are afraid to do because you know someone else did it before.

• For example, if your research topic is “urban poverty,” you could look at that topic across ethnic or sexual lines, but you could also look into corporate wages, minimum wage laws, the cost of medical benefits, the loss of unskilled jobs in the urban core, and on and on. You could also try comparing and contrasting urban poverty with suburban or rural poverty, and examine things that might be different about both areas, such as diet and exercise levels, or air pollution.

• Think in terms of questions you want answered. A good research project should collect information for the purpose of answering (or at least attempting to answer) a question. As you review and interconnect topics, you'll think of questions that don't seem to have clear answers yet. These questions are your research topics.

• Don't limit yourself to libraries and online databases. Think in terms of outside resources as well: primary sources, government agencies, even educational TV programs. If you want to know about differences in animal population between public land and an Indian reservation, call the reservation and see if you can speak to their department of fish and wildlife.
• If you're planning to go ahead with original research, that's great – but those techniques aren't covered in this article. Instead, speak with qualified advisors and work with them to set up a thorough, controlled, repeatable process for gathering information.

• If your plan comes down to “researching the topic,” and there aren't any more specific things you can say about it, write down the types of sources you plan to use instead: books (library or private?), magazines (which ones?), interviews, and so on. Your preliminary research should have given you a solid idea of where to begin.

Expanding Your Idea with Research

• It's generally considered more convincing to source one item from three different authors who all agree on it than it is to rely too heavily on one book. Go for quantity at least as much as quality. Be sure to check citations, endnotes, and bibliographies to get more potential sources (and see whether or not all your authors are just quoting the same, older author).
• Writing down your sources and any other relevant details (such as context) around your pieces of information right now will save you lots of trouble in the future.

• Use many different queries to get the database results you want. If one phrasing or a particular set of words doesn't yield useful results, try rephrasing it or using synonymous terms. Online academic databases tend to be dumber than the sum of their parts, so you'll have to use tangentially related terms and inventive language to get all the results you want.

• If it's sensible, consider heading out into the field and speaking to ordinary people for their opinions. This isn't always appropriate (or welcomed) in a research project, but in some cases, it can provide you with some excellent perspective for your research.
• Review cultural artifacts as well. In many areas of study, there's useful information on attitudes, hopes, and/or concerns of people in a particular time and place contained within the art, music, and writing they produced. One has only to look at the woodblock prints of the later German Expressionists, for example, to understand that they lived in a world they felt was often dark, grotesque, and hopeless. Song lyrics and poetry can likewise express strong popular attitudes.

Expert Q&A

• Start early. The foundation of a great research project is the research, which takes time and patience to gather even if you aren't performing any original research of your own. Set aside time for it whenever you can, at least until your initial gathering phase is complete. Past that point, the project should practically come together on its own. Thanks Helpful 1 Not Helpful 0
• When in doubt, write more, rather than less. It's easier to pare down and reorganize an overabundance of information than it is to puff up a flimsy core of facts and anecdotes. Thanks Helpful 1 Not Helpful 0

• Respect the wishes of others. Unless you're a research journalist, it's vital that you yield to the wishes and requests of others before engaging in original research, even if it's technically ethical. Many older American Indians, for instance, harbor a great deal of cultural resentment towards social scientists who visit reservations for research, even those invited by tribal governments for important reasons such as language revitalization. Always tread softly whenever you're out of your element, and only work with those who want to work with you. Thanks Helpful 8 Not Helpful 2
• Be mindful of ethical concerns. Especially if you plan to use original research, there are very stringent ethical guidelines that must be followed for any credible academic body to accept it. Speak to an advisor (such as a professor) about what you plan to do and what steps you should take to verify that it will be ethical. Thanks Helpful 6 Not Helpful 2

You Might Also Like

• ↑ http://www.butte.edu/departments/cas/tipsheets/research/research_paper.html
• ↑ https://www.nhcc.edu/academics/library/doing-library-research/basic-steps-research-process
• ↑ https://library.sacredheart.edu/c.php?g=29803&p=185905
• ↑ https://owl.purdue.edu/owl/general_writing/common_writing_assignments/research_papers/choosing_a_topic.html
• ↑ https://www.unr.edu/writing-speaking-center/student-resources/writing-speaking-resources/using-an-interview-in-a-research-paper
• ↑ https://www.science.org/content/article/how-review-paper

About This Article

The easiest way to get started with a research project is to use your notes and other materials to come up with topics that interest you. Research your favorite topic to see if it can be developed, and then refine it into a research question. Begin thoroughly researching, and collect notes and sources. To learn more about finding reliable and helpful sources while you're researching, continue reading! Did this summary help you? Yes No

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How to Do Research: and How to Be a Researcher

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There are many textbooks on research methods, but these tend to be targeted at particular disciplines. Equally, there are plenty of books on popular science and other academic fields, but few that provide an overview of career opportunities or a framework for getting started. The principles underlying humanity’s past and continuing acquisition of knowledge are straightforward and are illustrated here across academic fields, from history to quantum physics—stories of clever and inventive people with good ideas, but also of personalities, politics, and power. This book draws together these strands to provide an informal and concise account of knowledge acquisition in all its guises. Having set out what research hopes to achieve, and why we are all researchers at heart, early chapters describe the basic principles underlying this—ways of thinking which may date back to the philosophers of the Athenian marketplace but are still powerful influences on the way research is carried out today. Drawing on a broad range of disciplines, the book takes the reader well beyond the pure ‘scientific method’, which might work well enough in physics or chemistry but falls apart in life sciences, let alone humanities. Later chapters consider the realities of carrying out research and the ways in which these continue to shape its progress—researchers and their personalities, their employers, funding, publication, political forces, and power structures.

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10 Step Guide to Investing in Stocks

Step 1: set clear investment goals, step 2: determine how much you can afford to invest, step 3: determine your tolerance for risk, step 4: determine your investing style, step 5. choose an investment account, step 6: learn the costs of investing, step 7: pick your broker, step 8: how to fund your stock account, step 9: pick your stocks, step 10. keep learning about investing in stocks, best stocks for beginning investors, are stock funds good for beginner investors, do i have to live in the u.s. to open a brokerage account, the bottom line, how to invest in stocks: a beginner’s guide.

Yarilet Perez is an experienced multimedia journalist and fact-checker with a Master of Science in Journalism. She has worked in multiple cities covering breaking news, politics, education, and more. Her expertise is in personal finance and investing, and real estate.

Investing in stocks is a way to make your money grow over time. By regularly putting money aside to invest, you can see its value multiply over the long term. That's why it's important to begin as soon as you have the money to do so—the longer your time horizon, the better. This article takes you through how much you need, what stocks to choose, and the other basics of investing in stocks you need to get started, all in 10 steps. Whether you have thousands set aside or can invest a more modest $25 a week, you have enough to begin.

Key Takeaways

• You can earn more money by working longer hours, getting a raise or finding another job, or turning your money into a growth tool by investing in stocks and letting it work for you.
• Investing carries the chance of losses. But there are ways to lower your risk, though you can't get rid of it altogether.
• New investors have never had so many resources for expert advice.
• You can seek out articles, books, and courses to educate yourself; use robo-advisors, automated apps and platforms, or financial specialists to manage your portfolio; or personally manage your own stock investments.

Begin by reflecting on what you want to achieve financially. You might have short-term goals like saving for a home or a vacation or have long-term objectives like securing a comfortable retirement or funding a child’s education. Your objectives will depend on your life stage and ambitions. Younger investors tend to focus more on growth and long-term wealth accumulation, while those closer to retirement typically prefer income generation and capital preservation.

The more precise you can be about your goals, the easier it will be to sort out the best means to get you there. Here are some tips:

• Be precise about your objectives : Instead of general goals like “save for retirement” or “I don’t want to have to worry about money one day,” set specific objectives like “accumulate $500,000 in my retirement fund by age 60.”
• Set your investment horizon : Determine how long you have to achieve each goal you set. You will have longer and shorter timelines for different purposes. In general, the longer you can give yourself, the less risk you’ll need to take on, and the more viable your objectives will be.
• Evaluate your finances : Be realistic about how much you can allocate toward your investment goals. This includes looking at your savings, regular income, and any other financial resources you can put to work as you begin. We’ll come back to this.
• Rank your goals : Most of us have several goals at once, like saving a down payment for a house, paying for a wedding next year, or preparing for retirement. Prioritize these and balance them according to their importance and urgency.
• Review and adapt to changes in your life : The phrase financial planning is best taken as a verb, not a noun since goals aren’t set in stone, and planning your finances is an ongoing project. You might fall in love or out of it, have many children or none of them, or realize your life’s work is best done in a different place in the country. Life changes, and so will your financial objectives. Regularly review and adjust your goals accordingly.

The first step in any venture is the biggest, but it’s also when you set your aspirations and imagine yourself in a future that your investments in stocks, a touch of luck, and a prudent investment strategy you’ll begin to learn here make possible.

Determining how much you can afford to put in stocks involves carefully and honestly assessing your financial situation. Don't worry if your funds are less than you would wish. Just like you shouldn't berate yourself for not being ready for a race on your first day of training, so too, you're just at the beginning of your investment journey. This is a marathon, not a sprint and you've got a long way to go. Here are some tips for giving yourself an honest appraisal of how much you can use:

• Look at your sources of income : Start with your income. In particular, you'll want to see if your employer offers ways for you to invest while gaining tax benefits or with matching funds that will amplify your own contributions.
• Have an emergency fund : You should have a solid financial foundation before investing, though solid does not mean perfect. Settle on how much you need for emergencies, typically covering major expenses (a few months of mortgage or rental payments, plus your other bills).
• Snuff out any high-interest debts : Financial advisors also generally suggest making sure you've paid down your debts, especially credit cards and anything else with high interest rates. Any returns you expect from trading stocks are unlikely to make back the cost of the high interest rates accruing each month on your credit card statements. If you still owe on your student loans, look at how much interest you pay. Balance that against the returns you expect by investing in stocks, and choose whether it's better to pay your loans down or invest.
• Set a budget : Based on your financial assessment thus far, decide how much money you can comfortably put into stocks. This shouldn't dip into any funds you need for expenses now or down the road. Your budget should determine if you are starting with a large lump sum or investing smaller amounts at set times each month or year.

Investing in stocks carries risk, and it's important to only invest money you can afford to lose. Never put yourself in a financially vulnerable position for the sake of investing. This is what separates investing from some of the worst forms of gambling.

Understanding your risk tolerance is a cornerstone of investing. Gauge your level of comfort with the inherent uncertainties of the stock market. Your risk tolerance will differ depending on your life stage, financial goals, and your financial cushion for potential losses.

Determining your risk tolerance is crucial for crafting an investment strategy that matches your financial goals while keeping your peace of mind. It helps you decide which stocks are suitable for your portfolio and what to do when the market goes up or down. Don't be goaded into being more adventurous than you need to be, or more cautious than called for. Do you prefer stability, or are you willing to accept higher risks and price swings if that means there's the potential for more returns? This self-assessment is key to setting a foundation for your investment journey.

Stocks can be organized by the risk they involve. For instance, large-capitalization (large-cap) stocks are generally more stable since they are well-established, major companies well-known in the market. Small-cap stocks usually offer more growth potential but come with increased risk. Similarly, growth stocks are sought for rapid gains, with higher risks, while value stocks focus on long-term, steady growth, usually with lower risks.

Everyone has a different relationship with money. We've seen how this affects your risk tolerance . But investors also have investing styles that best suits them. Some prefer an active role, meticulously pouring over the last cell on the spreadsheets for their portfolios, while others opt for a hands-off, set-it-and-forget-it approach, trusting their investments will grow over time if they just leave them alone. Some just might not have the time to be active traders following the ticker crawls and latest reports on investing platforms. It's important to recognize that your style might evolve, but you'll need to start somewhere, even if your choice isn't set in stone.

Here are general directions for understanding your investing style:

• DYI investing : If you have a good grasp of how stocks work and are confident to head out with minimal guidance into the market, managing your stock trades is one option. You can set up an account with well-known and trusted online brokers to access a wide range of investment options, including stocks, bonds, exchange-traded funds (ETFs), index funds, and mutual funds. This approach gives you full control over your investments, even if certain choices might be stock funds and the like managed by professionals with a fiduciary responsibility to look after your funds.
• Working with a financial advisor or broker : For those who prefer the more personal approach and want more, an experienced broker or financial advisor can be invaluable. They offer advice tailored to your life experiences and goals, help you decide among the more promising stock choices for you, monitor your portfolio, and collaborate with you when adjustments need to be made.

You've figured out your goals, the risk you can tolerate, and how active an investor you want to be. Now, it's time to choose the type of account you'll use. Each has its own features, benefits, and drawbacks.

Here are the most common:

Retirement Accounts

• Your employee retirement plan : If your employer offers a retirement plan, this is a convenient way to invest in stocks, including potentially those of the company itself. The plans are known by the sections where they're described in the U.S. tax code. The most popular are 401(k)'s (tax-deferred, private employer-sponsored retirement savings), but you could also have a 403(b) (used mostly by nonprofit organizations, public schools, and some churches), a 457 (mostly for state and local public employees), or a similar plan. You contribute to your account automatically each pay period, and many employers offer matching contributions, boosting your investment. Your contributions are tax-deductible, and the account balance grows tax-deferred.
• Individual retirement account (IRA) : You can start investing in stocks by opening an IRA in addition to your workplace retirement plan (if you have one). IRAs provide some tax benefits, and you can choose between a traditional IRA (tax-deductible contributions) or a Roth IRA (tax-free withdrawals in retirement).

Taxable Brokerage Accounts

If you prefer more flexibility or have maxed out your IRA contributions , a regular taxable brokerage account gives you access to various investment options, including individual stocks, stock mutual funds, ETFs, and stock options. While they don't have the tax advantages of retirement accounts, they are more flexible and don't have contribution limits. You can also pick different taxable brokerage accounts as you seek a match for your investment style.

• Individual brokerage accounts : These are standard accounts opened by one person. The account holder has full control over the investments and is solely responsible for any tax implications. The most basic type is a cash account , through which you buy securities using only the money available in your account. You can also have a margin account at a brokerage for more experienced investors who borrow money from the brokerage against their account's value to buy additional stock.
• Joint brokerage accounts : These are shared by two or more individuals , typically spouses or partners, and can be cash or margin accounts. These accounts can be structured as joint tenants with rights of survivorship: if someone on the account dies, ownership passes to the survivor(s).
• Managed accounts : These are professionally managed, and a portfolio manager makes the decisions on your behalf, personalized to your needs, goals, and investment style.

Accounts For Specialized Goals

There might be tax advantages to using different kinds of accounts if you're investing in stocks for specific goals, e.g., for your own or your child's education or health expenses. If so, it's to your advantage to consider these alternatives, which have special tax incentives:

• Dividend reinvestment plan accounts : Some brokers offer accounts that automatically take your stock dividends and use them to purchase new shares, usually without charging commissions for the additional shares.
• Education Savings Accounts : These offer tax advantages when the funds are used for qualified educational expenses.
• Health savings account : Contributions are tax-deductible, and withdrawals for qualified medical expenses are tax-free.
• Trust and custody accounts : A trustee manages trust accounts for the benefit of a third party according to the terms of a trust agreement. In the case of custody accounts, minors can own stocks and other assets, but a custodian manages the account until the minor is an adult.

Commissions and Fees

Besides reputation and fit with your investment strategy and goals, broker fees are the most important consideration when you're choosing a brokerage firm, which comes in the next step. Let's prepare. Traditionally, brokerages have charged fees through trade commissions, account maintenance fees, and fees for additional services like research or financial advice. However, the landscape of brokerage fees has evolved significantly in recent years.  Here's what you'll want to look for as you do your research:

Trading commissions : A broker might charge a commission every time you trade a stock, whether you buy or sell. Trading fees range from $2 per trade to $10. Some brokers charge no trade commissions at all, but they make up for it with other fees. Depending on how often you plan to trade, these fees can add up, affect your portfolio's return, and deplete the money you have available to invest.

Let's see this in action: Suppose you buy one share of stock in five companies with $1,000. Assuming a transaction fee of $10, you will incur $50 in trading costs which is equivalent to 5% of your $1,000. Should you sell these stocks, the round trip (buying and then selling) would cost you a total of $100, or 10% of your initial deposit amount of $1,000.

Maintenance fees : Some brokerages charge monthly or annual fees to keep your account active. These might be waived, though, if your account balance is above a certain threshold.

Service fees : You might pay additional fees if you haven't used your account in a while. Brokers also may charge for services like broker-assisted trades, access to their premium research, and trading on margin (by borrowing). Most of these fees and the services linked to them are optional.

Subscription-based models : As Generation Zers and Millennials take up a larger share of the investment space, financial advisors, planners, and brokers are taking on clients used to month-to-month or yearly fees for apps and app-based services. Instead of paying per transaction or for specific services, you pay a flat monthly or annual fee. Your subscription may include commission-free trades, access to research tools, and other premium support.

Some platforms offer tiered subscription levels, supplying more features or lower margin rates at higher subscription rates. As you would with Hulu or your favorite online magazine, you'll want to keep an eye on how much you're taking advantage of what you're paying for. If not, you might draw down to a lower tier or seek another broker altogether.

Account Minimums

A major change in recent years has resulted from the immense competition among brokerages. Many online brokers have eliminated account minimums, making it easier for a wider range of investors to get started.

This means that if you have just a few dollars to invest, you can still open a brokerage account and begin trading stocks. While some brokerages still require you to deposit substantial amounts before you can become a client, this shift away from very low or no minimum requirements has made investing far more accessible to nontraditional investors and beginners. However, you'll want to assess any minimum a brokerage requires, which is still your money, with transaction fees and maintenance costs that may lead you to decide that keeping a minimum in your account is less costly in the long run.

Brokers  are either full-service or discount. Full-service brokers provide an array of financial services, including financial advice for retirement, healthcare, education, and more. They can also offer a host of investment products and educational resources. They have traditionally catered to high-net-worth individuals and usually require significant investments. Discount brokers have much lower thresholds for access, but tend to offer a more streamlined set of service, allow you to place individual trades, and offer educational tools.

Full-service brokers

These offer a full range of traditional brokerage services, including financial advice for college planning, retirement planning, estate planning, and for other life events. This customized advising justifies the higher fees that they typically charge, normally a percentage of the value of your transactions, a percentage of your assets under management, and sometimes, a yearly membership fee. Minimum account sizes can start at $25,000. 

Discount Brokers

These offer you tools to select your investments and place your orders. Some also offer a set-it-and-forget-it robo-advisory service. Most have educational materials on their sites and mobile apps. Some brokers have no (or very low) minimum deposit restrictions. However, they may have other requirements and fees. Be sure to check on both as you look for a brokerage that's best for your financial situation, and review our Best Online Brokers for Beginners of 2024 .

Robo-Advisors

For an automated solution, robo-advisors or automated investment platforms are cost-effective and pretty effortless when investing. If you select this option, you won't be alone in doing so. According to Charles Schwab, 58% of Americans say they will use some sort of robo-advisor by 2025.

An app or platform takes the information you provide about your financial goals, risk tolerance, income and savings, and so on, and its robo-advisor creates and helps manage your investment portfolio using its specialized algorithms. Aimed at retail investors, robo-advisors are low-cost, usually have little or no minimum balance requirements, and are programmed for strategies suited for new and intermediate investors. That said, they tend to offer fewer trading options and lack the personal approach to financial planning best suited for long-term investing. If this interests you, see our Best Robo-Advisors of 2024 .

Now that you've chosen the type of account to open, you'll have to fund it. Here's what to do:

• Choose a brokerage : First, select a brokerage firm, perhaps one of the major online firms, that aligns with your investment goals and preferences or is simply most convenient for you. Consider factors like fees, available investment options, and the platform's user-friendliness.
• Pick your account type : Decide whether you're opening a cash account, which requires you to pay for investments in full, or a margin account, which allows for borrowing to purchase securities.
• Open your account : Once you've chosen a brokerage and account type, you'll need to open your account. This involves providing your personal information: Social Security number, address, employment details, and the particulars of your financial situation. This shouldn't take you more than 15 minutes.
• Link your bank accounts : The most common way to fund your stock account is by linking it to your bank account. This is usually done online through the brokerage's platform, where you'll enter your bank account number and routing number. Many brokerages allow you to link your account via small test transactions for verification.
• Transfer or deposit your first funds : Once your bank account is linked, you can transfer funds to your brokerage account, typically through an electronic funds transfer, which can take a few days to process. Other options may include wire transfers for faster funding if you're raring to go, though these usually cost more. Some brokerages still accept physical checks. If you prefer this method, you can mail a check to the brokerage or bring it to a physical location.
• Set up periodic transfers : If you plan to make stock buys a habit, consider setting up automatic transfers from your bank to your brokerage account.
• Start investing : Once you've verified the funds are in your account (don't worry: the brokerage won't let you trade otherwise), it's time to start choosing among the stocks that best fit your investment goals.

If you plan to trade frequently, check out our list of brokers for cost-conscious traders.

Choosing the right stocks can be daunting even for experienced investors. Beginners should look for stocks that have stability, a strong track record, and the potential for steady growth. Don't start out of the gate with a risky stock, thinking you'll hit it big right away. Investing for the long term is mostly slow and steady, not fast and rash. Here are some stocks that are solid bets to begin:

• Blue chips : These are shares of large, well-established, and financially sound companies with a history of reliable performance. Examples include companies listed in the Dow Jones Industrial Average or the S&P 500. They are typically industry leaders and offer stability during market fluctuations.
• Dividend stocks : Companies that regularly pay dividends can be a good choice for beginners. Dividends give you a regular income, which can be reinvested to buy even more stock. See How to Buy Dividend Stocks to get started.
• Growth stocks : The greater the chances for outsized growth in a stock, the riskier investing in it will be. Beginners interested in growth stocks should look for industries with long-term potential, such as technology or healthcare.
• Defensive stocks : These are in industries that tend to perform well even during economic downturns, such as utilities, healthcare, and consumer goods. They will give you a buffer against market volatility as you start.
• ETFs : Traded like stocks, these track many indexes or sectors and are a low-cost way to gain exposure to a broad range of assets. You can trade shares in them throughout the day at market prices. These funds often track a specific market index, like the S&P 500, and offer instant diversification, reducing the risk associated with individual stocks. As you gain experience, you can look at funds for sectors that pique your interest, themes that meet your investment goals, or indexes that track environmental, social, and governance stocks to match your quest for returns with your values.

It's prudent to begin with a conservative approach, focusing on stocks or funds that offer stability and a good track record. This will give you confidence and returns to work with as you advance in your investing knowledge.

Investing in stocks is an ongoing learning experience—even the most successful investors are learning new tips and strategies each passing day. As the stock market continually evolves, staying up to date and going back to Step 1 and reviewing your goals, available funds for trading, investment style, and so on, will be key. Here are some final tips for now:

• Read widely and regularly : Consistently visit reputable financial news sites. Keep informed about the global economy, industry trends, and the companies you are invested in. Avoid sites and books promising easy returns or tricks, not tips, likely to redound to their benefit when you buy their courses or apps. Books on investment strategies, stock market fundamentals, and diversification techniques can be essential.
• Use stock simulators : These platforms enable you to practice trading stocks risk-free using virtual money. They are excellent tools for applying investment theories and testing strategies without risk. Investopedia's simulator is entirely free to use.
• Learn about diversification : Having taken your beginning steps here, you'll next want to spread your investments across diverse asset classes to reduce risk and improve the potential for returns. When you're ready, we'll help you learn how to diversify your portfolio beyond stocks .

Just as financial planning is a verb, learning about stock investing is continuous. The more informed you are, the better you'll be able to make wise investment decisions and adapt to market changes.

Choosing the right stocks can be overwhelming for those just starting to navigate the world of stocks and investing—you're starting with a blank slate, and the choices are endless. Here are some that aren't just the best for beginners but are many times the picks of many experts managing their portfolios:

Index funds : One approach that has gained significant popularity in the last few decades is investing in index funds. These are passively managed funds that aim to track the performance of a particular market index. This might have the excitement of picking a stock and seeing if it does well, but index funds take what would be impractical or too expensive for a beginner to do and let you invest in a representative sample of securities. S&P 500 index funds, the most popular in the U.S., mimic the moves of the stocks in the S&P 500, which covers about 80% of all U.S. equities by market cap.

The appeal of index funds lies in their simplicity and lower fees. By mirroring the composition of a chosen index, these funds provide broad exposure to the market without the need for extensive research or stock-picking expertise. According to the S&P Indices Versus Active scorecards, a widely respected benchmark, about 90% of actively managed funds didn't match the returns of the S&P 500 over 10 and 15-year periods. This is stark but winning information for a beginner: the most effortless route might be the most profitable.

Blue-chip stocks : Perhaps the most classic investing advice is to buy shares of well-established, stable companies with a history of consistent growth and dividend payments. The blue chips —named for the traditional color of the highest-value poker chips—often have strong brand recognition, a solid market position, and a track record of weathering economic downturns. Investing in blue-chip stocks can provide beginner investors with a sense of stability and the potential for steady returns over the long term. Examples of blue-chip stocks include Apple ( AAPL ), known for its ubiquitous technology products and loyal customer base; JP Morgan & Chase Co ( JPM ), the banking giant; Johnson & Johnson ( JNJ ), a healthcare giant that also owns manufacturers of many consumer goods; and Coca-Cola ( KO ), the soft drink maker that has announced dividends each year since 1893.

Dividend aristocrats : Coca-Cola is not just a blue-chip stock but also belongs to this select group , which was given this informal name for giving and increasing their dividends for at least 25 consecutive years. By investing in dividend aristocrats, beginners can benefit from the potential for rising income and the chance to reinvest the dividends for compound growth . Examples include ExxonMobil ( XOM ), one of the world's largest oil and gas companies with a history of solid cash generation; Procter & Gamble Co. ( PG ), the consumer products multinational; and Walmart ( WMT ), the retail behemoth.

Low-volatility stocks : These companies' shares have historically had fewer swings in price, providing more stability to portfolios and, not for nothing, investor heart rates. These stocks often belong to "defensive sectors" (recession-proof parts of the economy) such as utilities, consumer staples, and healthcare. Examples of low-volatility stocks include utility companies we've mentioned already (Johnson & Johnson, Coca-Cola, Procter & Gamble, etc.), as well as Berkshire Hathaway ( BRK.B ), Brystol-Myers Squibb Company ( BMY ), Duke Energy ( DUK ), and the Hershey Company ( HSY ), which shows that the love of chocolate doesn't go away when the economy hits some bumps.

Quality factor ETFs : These invest in companies with strong balance sheets, consistent earnings growth, and other indicators of financial health. They use a rules-based approach to select stocks with low debt levels, stable earnings, and high returns. These funds include the iShares MSCI USA Quality Factor ETF, which holds large- and mid-cap U.S. stocks with solid quality characteristics, and the Invesco S&P 500 Quality ETF, which focuses on high-quality stocks within the S&P 500 index .

The potential drawback for each of these investing strategies is that you might not see the outsized growth riskier stocks could provide. Plus, past performance does not determine future results. If you have limited funds, this could be unappealing: more modest returns won't seem to add much when you don't have much to begin with. But over time, reinvested dividends and compound growth add up. Investing is not gambling, and the reason to invest over heading to a Casino is that prudent, patient, and disciplined investing is how, on the whole, most investors get ahead. This means starting with stable stocks in your portfolio. Once you build up your investment account and gain experience, you can consider riskier stocks. Investing prudently now will help you gain the experience to do just that.

How Much Money Do I Need To Start Investing in Stocks?

The amount needed depends on the brokerage firm and the investments you're interested in. Some online brokerages have no minimum deposit requirements, allowing you to start investing with a small amount of money. However, the price of individual stocks and the minimum investment for certain mutual funds or ETFs might require you to start with more of an initial investment. That said, there are many brokerages and investment options now for those starting with less to invest than there were a decade or two ago.

Stock funds, including mutual funds and ETFs that invest in a diversified portfolio of stocks, are a good option for beginner investors. They offer diversification, which helps spread risk across different stocks, and are managed by professional fund managers. In addition, stock funds allow beginners to invest in a broad range of stocks with a single investment, making it easier to get started without having to pick individual stocks. While you watch your mutual fund or ETF investment over time, you will also gain experience about the ebb and flow of the stocks these funds hold, good knowledge that will help you when investing later.

What Are the Risks of Investing?

Investing is a commitment of resources now toward a future financial goal. There are many levels of risk, with certain asset classes and investment products inherently much riskier than others. It is always possible that the value of your investment will not increase over time. For this reason, a key consideration for investors is how to manage their risk to achieve their financial goals, whether short- or long-term.

To open a brokerage account, you don't have to live in the U.S. Many U.S. brokerage firms accept international clients. However, the application process and requirements will differ, including the need for additional documentation, such as proof of identity and residence. There are also some investments and services regulations curtail for those who aren't U.S. citizens, but the experience is very similar. Most major online brokerages in the U.S. accept international clients.

How Do Commissions and Fees Work?

Most brokers charge customers a commission for every trade. Due to commission costs, investors generally find it prudent to limit the total number of trades they make to avoid spending extra money on fees. Certain other types of investments, such as exchange-traded funds, may carry additional fees to cover fund management costs.

Beginners can start investing in stocks with a relatively small amount of money. You'll have to do your homework to determine your investment goals, risk tolerance, and the costs of investing in stocks and mutual funds. You'll also need to research brokers and their fees to find the one that best fits your investment style and goals. Once you do, you’ll be well-positioned to take advantage of the potential stocks have to reward you financially in the coming years.

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Securities and Exchange Commission. " How Fees and Expenses Affect Your Investment Portfolio ."

Jen Hollers. " Subscriptions and a Sustainable Business in Financial Planning ." Journal of Financial Planning . (August 2023.)

Charles Schwab. “ The Rise of Robo: Americans’ Perspectives and Predictions on the Use of Digital Advice .” Page 3.

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Nasdaq. " Dividend Aristocrats ."

Nasdaq. " Low Volatility Stocks ."

• Investing: An Introduction 1 of 38
• What Is the Stock Market, What Does It Do, and How Does It Work? 2 of 38
• A Look at Primary and Secondary Markets 3 of 38
• How to Buy and Sell Stocks for Your Account 4 of 38
• Trading Hours for the World’s Major Stock Exchanges 5 of 38
• Types of Stock Exchanges 6 of 38
• How to Invest in Stocks: A Beginner’s Guide 7 of 38
• What Owning a Stock Actually Means 8 of 38
• The Basics of Trading a Stock: Know Your Orders 9 of 38
• How to Reduce Risk With Optimal Position Size 10 of 38
• How Do I Place an Order to Buy or Sell Shares? 11 of 38
• 6 Reasons to Sell a Stock 12 of 38
• Income, Value, and Growth Stocks 13 of 38
• How Do I Keep Commissions and Fees From Eating Trading Profits? 14 of 38
• What Type of Brokerage Account Is Right for You? 15 of 38
• Investing vs. Trading: What's the Difference? 16 of 38
• Stock vs. ETF: Which Should You Buy? 17 of 38
• Why Would Someone Choose a Mutual Fund Over a Stock? 18 of 38
• ETF vs. Mutual Fund: What's the Difference? 19 of 38
• Bond: Financial Meaning With Examples and How They Are Priced 20 of 38
• Bond Yield: What It Is, Why It Matters, and How It's Calculated 21 of 38
• 4 Basic Things to Know About Bonds 22 of 38
• How to Buy Bonds: Corporate, Treasury, Municipal, or Foreign 23 of 38
• How to Invest in Corporate Bonds 24 of 38
• Introduction to Treasury Securities 25 of 38
• The Basics of Municipal Bonds 26 of 38
• What Are the Risks of Investing in a Bond? 27 of 38
• Options vs. Futures: What’s the Difference? 28 of 38
• Options Trading: How to Trade Stock Options 29 of 38
• The Importance of Diversification 30 of 38
• How to Calculate Your Portfolio's Investment Returns 31 of 38
• What Are Corporate Actions? 32 of 38
• Why Dividends Matter to Investors 33 of 38
• What Are Stock Fundamentals? 34 of 38
• 5 Essentials You Need to Know About Every Stock You Buy 35 of 38
• Sector Breakdown: What It Is and How It's Used 36 of 38
• How to Analyze a Company's Financial Position 37 of 38
• Technical Analysis: What It Is and How to Use It in Investing 38 of 38

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