32: How to Pick Stocks to Invest in (Part 1: Understanding Financial Statements)

<p>🎙 Picking stocks to invest in is not an easy task. There’s a lot that goes into it and it carries more risk than a well diversified ETF. But when done correctly, picking individual stocks to invest in is a great way to boost your wealth. But how do you go about picking stocks? And why do you need to be able to understand a company’s financial statements? 🤔</p> <p><strong>This episode discusses topics like:</strong></p> <p>🌟 Why you should consider investing in individual stocks and when you’re better off investing in ETFs;</p> <p>🌟 How companies report on their finances and what it means for you as an investor; and</p> <p>🌟 What to look for in a company’s financial statements to help you make the best investment choices for your investing strategy.</p> <p><strong>Links from this episode:</strong></p> <p>Episode transcript and show notes: <a href= "https://www.papermoneyco.com/gof32">https://www.papermoneyco.com/gof32</a></p> <p>Get your FREE Investing Starter Guide: <a href= "https://www.papermoneyco.com/startinvesting">https://www.papermoneyco.com/startinvesting</a></p> <p>Investing in ETFs: <a href= "https://www.papermoneyco.com/gof17">https://www.papermoneyco.com/gof17</a></p> <p>Stock picking cat: <a href= "https://www.theguardian.com/money/2013/jan/13/investments-stock-picking"> https://www.theguardian.com/money/2013/jan/13/investments-stock-picking</a></p> <p><strong>Time codes:</strong></p> <p>00:00 Hello and Welcome!</p> <p>04:02 Why Should You Invest in Individual Stocks</p> <p>12:28 Analysing Company Financial Statements to Pick Stocks</p> <p>14:04 What Are Financial Statements and Where Do They Come From?</p> <p>22:26 Understanding Financial Statements</p> <p>25:29 Sponsor - FIRE and Investment Calculator Spreadsheet</p> <p>27:24 What to Look for in Financial Statements</p> <p>32:25 Next Weeks’ Episode</p> <p><strong>Remember to:</strong></p> <p>Join our exclusive community by becoming a Patron: <a href= "https://www.patreon.com/girlonfirepodcast">https://www.patreon.com/girlonfirepodcast</a></p> <p