Investing your savings is one of the smartest things you can do to secure your financial future. However, for beginners, the world of investing can seem complicated and confusing. Here are some basics to get you started.

The first step is to determine your financial goals and risk tolerance. Do you want to save for retirement, pay for your children’s college education or save for a down payment on a house? Your timeline and risk tolerance will help determine the right investments for you. If you have a long time horizon and can handle risk, stocks are a good option. For shorter-term or lower-risk goals, consider bonds or certificates of deposit.

Next, choose an investment account. The most common options are brokerage accounts, retirement accounts like an IRA or 401(k), and college savings plans. Brokerage accounts provide the most flexibility but don’t offer tax benefits. Retirement accounts like an IRA allow your money to grow tax-deferred until withdrawal. College savings plans also provide tax benefits.

Decide if you want to invest in individual stocks, bonds, mutual funds, or ETFs. For beginners, mutual funds and ETFs are good options. They provide instant diversification, so your money isn’t riding on just one or a few stocks. Look for low-cost, broad market funds that match your financial goals.

Do some research to choose your investments. Look at the fund’s historical performance, fees, and holdings to make sure it aligns with your needs. For stocks, analyze the company’s financials and growth potential. Consider consulting a financial advisor, who can help build a customized portfolio based on your needs.

Start investing as soon as possible. Even putting aside a small amount each month can go a long way thanks to the power of compounding returns. Increase your contributions over time as you’re able. Review and rebalance your portfolio at least once a year to make sure your money is allocated properly based on your goals.

With some planning and patience, you can become a successful investor. The keys are determining your needs, doing your research, starting early, and sticking to a long-term plan. While there will be ups and downs in the market, stay invested for the best chance of achieving your financial goals. With time and experience, investing will become second nature.