Information overload is very real. It can deter new investors from making their first move. However, there is no need to load your portfolio with “ideal” stocks or complex strategies. Read ahead to find six simple steps you can use to build your long-term portfolio.

Step 1: Start With Your Goal

There are many reasons why people choose to invest: for retirement, children’s college funds, a new home, or financial independence. Knowing why you invest is important since different objectives may require different investment approaches. Investing is a long-term venture. The earlier you invest, and the longer you stay invested, the more you can benefit from the effects of compounding. Although the market can and will fluctuate, investing your money for decades will help ride out the short-term downturns.

Step 2: Build Your Financial Foundation First

Invest only money you won’t need soon.

A drop in asset value is just a temporary paper loss until you sell....