On August 29, 2018, J.P. Morgan Chase, a financial behemoth with over $2.6 trillion in assets, brought a new product â You Invest – to its customers. The product offers an impressive collection of trading options, tools, and resources for investors to consider. You Invest is a new entrant in the online brokerage industry, offering […]
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Prior to becoming a financial advisor and offering life insurance, I had to admit I never would have thought that a marijuana user would get approved for term life insurance coverage. After being in the business for several years and running several quotes, I quickly realized that this was not the case. In fact, there […]
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Established in 1961 and headquartered in Williston, New England Federal Credit Union (NEFCU) is Vermont’s largest credit union, with 90,000 members and investable assets of more than $1 billion. Serving six counties in the northwestern portion of the state, NEFCU’s stated goal is “empowering members to make good financial decisions so they can improve their […]
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When I talk about investing in the stock market versus investing in real estate, I often hear that the stock market is a better investment because of what Warren Buffett has done. He has made billions of dollars in his career, but how did Warren Buffett get rich? I think Warren Buffett has made his … Read more
I was honored to be a part of my buddyâs wedding this past weekend. It is always a joy to see two newlyweds embark on their journey together to face life and all her glory. Itâs hard to believe that itâs been over 4 years since I got hitched. Itâs been a fun learning process […]
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My old college roommate lost his younger brother to cancer and left my roommate as the beneficiary on his retirement account. When I heard the news, I was in disbelief. There’s no way that someone so young could pass away, could they? I had heard that my former college roommate’s younger brother was sick, but […]
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When I told readers that January would be “back to basics” month at Get Rich Slowly, the number-one request I received was to write about how to invest.
Rather than scatter investing info throughout the month, I decided to collect the essentials into one mammoth article. Here it is: all you need to know about how to invest — even if you’re a beginner.
In writing this article, I tried not to bog it down with jargon and definitions. (I’m sure I let some of that slip through the cracks, though. I apologize.) Nor did I dive deep. Instead, I aimed to share the basic info you need to get started with investing.
What follows are eight simple rules for how to invest. And in the end, I’ll show you how to put these rules into practice. First, let’s dispel some popular misconceptions.
Investing scares many people. The subject seems complicated and mysterious, almost magical. Or maybe it seems like gambling. When the average person meets with his financial adviser, it’s often easiest to sit still, smile, and nod.
One of the problems is that the investing world is filled with jargon. What are commodities? What’s alpha? An expense ratio? How do bonds differ from stocks? And sometimes, familiar terms â such as risk â mean something altogether different on Wall Street than they do on Main Street.
Plus, we’re bombarded by conflicting opinions. Everywhere you look, there’s a financial expert who’s convinced she’s right. There’s a never-ending flood of opinions about how to invest, and many of them are contradictory. One guru says to buy real estate, another says to buy gold. Your cousin got rich with Bitcoin. One pundit argues that the stock market is headed for record highs, while her partner says we’re due for a “correction”. Who should you believe?
Perhaps the biggest problem is complexity â or perceived complexity. To survive and seem useful, the financial services industry has created an aura of mystery around investing, and then offered itself as a light in the darkness. (How convenient!) As amateurs, it’s easy to buy into the idea that we need somebody to lead us through the jungle of finance.
Here’s the truth: Investing doesn’t have to be difficult. Investing is not gambling, and it’s not magic.
You are perfectly capable of learning how to invest. In fact, it’s likely that — even if you know nothing right now — you can earn better investment returns than 80% of the population without any scammy tricks or expensive tips sheets.
Today, I want to convince you that if you keep things simple, you can do your own investing and receive above-average returns â all with a minimum of work and worry. Sound good? Great! Let’s learn how to invest.
In my half of the Earth, we’ve recently drifted past the Winter Solstice – the shortest, darkest, day of the year and usually one of the coldest too. Some might consider this a depressing time, but for me it is cause for optimism. After all, if life is already this great right now, can you […]
The BIG 3-0. The age that you’re really an adult. In your 20’s, you could still swing being a bit immature. Once 30 comes it’s game over. And now that I’m 35… Dang! Am I really 35? <sigh> Halfway through my 30’s and I’ve been rocking it the best way I can. As a result, […]
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How much better would your financial life be if you knew how to make $200 a day, and fast? You could use the money to pay off debt, build an emergency fund, save for a house, or invest long-term.
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