Before I move into the area of high-risk investments, I want to cover something critical to your investment health. It’s important to remember that if you are of average intelligence, you can equal or outperform money managers. However, to do this is going to take time and effort.

If you’re like I am and short on time to do the extensive research necessary to select individual stocks to add to your portfolio, think in terms of an index fund or an ETF option. Even here, you need to do some research and make decisions, but not to the extent that picking each stock in your portfolio.

You can find loads of help on the internet such as these hubs, but be sure and check the dates on websites you visit to be sure you’re not reading something dated back more than a year or so. I strongly recommend you visit the Motley Fool site regularly. They have a number of membership options from no membership, a free membership, and paid memberships. The paid memberships offer benefits that the free one does not, but you may not need what the Fools offer for a fee. You’ll have to decide that one for yourself. However, the free information they offer is worth gold to novice investors trying to learn the ropes.

A great source of help might be your banker. Most banks have individuals that specialize in investment matters. Keep in mind, the banker may have vested interests in directing you into one type of investment over another. Even so, they are trained in handling investment portfolios and can be great for answering questions.

Money managers, like mine charge an annual fee for their services, but I don’t have to worry about the conflict of interest problem that I would with an advisor carrying a corral of their own funds. Money managers like mine require a minimum investment to get them to work for you and this might be more than you have when you are just starting out.

Seminars are often available free of charge unless you count the sales pitch as a form of fee. Sometimes they even feed you. These are by invitation and can provide additional insight into the whole investing game. These seminars aren’t sponsored out of the love for you. They are sponsored out of the love of your money. Don’t allow yourself to be suckered. Never buy at a seminar, no matter how wonderful they make it sound and they will make their offering sound absolutely irresistible. Go home, do some research, think it over, then make your decision as to whether what they offer is good or not.

When you first start investing, you can opt to use a full service brokerage firm until you get your bearings. This will cost you more than the almost no service discount brokers will, but you can chalk up the added expense to education. Remember this. Stockbrokers, even the best ones, make mistakes, but the more successful they are in helping you make money, the more likely you’re going to stay on as a client. If your broker suggests a particular stock, check it out for yourself, but do it fast. Time can be of the essence if you want to buy low and sell high.

Always be aware of the fees involved in your trades and any fees incurred from holdings such as loads, and management and 12b-1 fees. These can chew into your profits and substantially lower the return on your investment dollar.