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Where to get advice on the best stocks to invest in

You can get advice on the best stocks to invest in from almost anybody you know. Everybody has got an opinion. However, for the best stock picks for you, you have to know what your goal is. Do you want a safe investment for the future, which will return a relatively low yield? Or do you want a riskier investment which might make you wealthy? There are good sources of information in each case: brokers, tv analysts, and websites.

What is your goal?

If you are young and have the prospect of many years of decent income, you may want to invest at least part of your free cash in a growth stock or even a risky small company. The return may be substantial, though you also have to recognise the risk that the company will not do well, and that in fact it may go out of business Low-yield but safe If you are older and have a nest egg, but your earning years are limited, the best stocks to invest in are ones which provide a reliable return with little risk. The best safe stocks are ones in large companies with good dividends.

What are the sources of information?

Full-service brokers These brokers will always sit down with you and discuss your goals and good stocks to buy to fulfill them. Online brokers You can accesss a lot of information on an online broker's site. It might provide reports from S&P or another service which rates stocks. Your hairdresser He might be a source of a hot stock pick. However, this is not the recommended source for good stock-buying information. Tv networks CNBC and Blomberg have frequent guests who have tips on hot stocks to buy. Some of these are very good. However, some are 'talking their book' - hyping stocks they already own. Others will just be giving advice with nothing to lose - they do not have any 'skin in the game.' After watching for a while, the keen viewer can tell whose advice is good and whose is a lot off hot air. Free online sites There are websites which offer advice on top stocks to buy. Again, consider who the source is and what their agenda might be. Bottom line There is lots of advice out there on the best stocks to buy now. Take all hot stock market tips skeptically, and do your own research. The best source of information on good stocks to invest in is probably you - you know your purpose and you have the most to lose if the advice on top stock picks is wrong.

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