Investing is like shopping for your future. Listen to this episode so you don’t end up shopping at a dumpster fire. We’ve got a bunch of pro tips, even if you don’t know what a 401k is yet.
$$$ This Is How You Get Money $$$
So if you take anything out of this episode, what you should know is:
- If you ever want to retire, you must invest. Even just to keep up with inflation you gotta get invested.
- It’s never been easier to invest, there are a lot of options out there.
Here are a few pro tips about investing:
- A little education goes a long way, start with a great book about investing or take an afternoon to REALLY understand how compound interest works. If you want a recommendation, a book I love is The Simple Path to Wealth by JL Collins.
- You don’t need a huge pile of money to invest. Online investment companies make it incredibly easy to invest in small amounts on a regular basis. A couple we like are Betterment, Wealthfront and Ellevest.
- You don’t need to read the Wall Street Journal to be a good investor. In fact, you might do better not paying attention to the ups and downs of the stock market at all. Studies show that the more you buy and sell within your investment accounts, the worse off you’ll end up. Think of investing like a bar of soap – the less you touch your investment, the more money you’ll have to grow.
And remember you’re not alone in being nervous to start investing. After all, it’s your hard earned money! We totally get it. And just like anything it gets easier if you trust the process and have patience.