13 Steps to Investing Foolishly, Step 7: Buying Your First Stock (^GSPC, IVV)

13 Steps to Investing Foolishly, Step 7: Buying Your First Stock

In honor of Worldwide Invest Better Day, we at The Motley Fool are recapping our "13 Steps to Investing Foolishly" -- steps you can follow to become a better, more Foolish investor.

In the following video, analyst Austin Smith covers Step No. 7: buying your first stock.

While taking that plunge into investing can be exciting, it should also be measured. More than anything, your first stock purchase should be regarded as a lesson in investing, not the end-all-be-all or get-rich-quick move that many of us wish it was. Investing is a game that favors the patient, so when you're buying that first stock, don't jump in with both feet. Buy just a few shares and learn from that position. Follow the stock, learn to keep a cool head when it decreases in value, and become a better investor in the process.

Click the big green button to join the thousands of people celebrating Worldwide Invest Better Day on Sept. 25!

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Austin Smith and The Motley Fool have no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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