Smart Thinking On Investing – July 9
Smart Thinking On Investing – July 9
“Will debt define this generation?”
- Millennials era of education leaves them, unfortunately, saddled with larger student debts than any preceding generation
- But growing up during the age of the internet means that they stand to gain from cutting-edge technology and new entrepreneurial avenues in which to invest
- Millennials still prefer to hold cash rather than invest in stocks, but as technology is poised to steer us all away from traditional investment practices maybe they are too?
U Can’t Touch This
- Despite having a real estate empire upwards of $350 million, Grant Cardone advises investing over saving
- He spends twice a year ‘broke’ by putting money into investments that he can not access in any way
- He promotes “paying yourself first” as an ingenious way to build wealth—your 401(K), individual retirement accounts (IRAs) and low-cost index funds are all excellent ways to do this
Money in the Bank
- Many young millionaires may have cash in the bank, but they also invest in other ventures such as stocks, real estate, and other assets to reap rewards
- Spreading your bets in this manner will balance your risk taking and help to protect from market ups and downs
- With a wealth of information now available thanks to the internet; money-smart millionaires consult not only advisors, friends, and family, but the web for financial advice too
Don’t Save Yourself Poor
- Though it’s comforting to have money saved, it isn’t working hard for your future—a bigger risk than investing in the stock market
- You lose out on the benefit of compounding interest over time which occurs when you invest and then reinvest your returns
- Start with a budget and think creatively about the way you’re spending—develop a way of living below your means to make the most of your money by investing it
Ways to Deal With Market Drops
- Humans are naturally built to proceed with caution when it comes to uncertainty, and the stock market roller coaster is nothing if not uncertain at the moment
- History shows that the market will recover, but it’s difficult to remember that as you watch stock prices plummet down
- Don’t panic and sell, thinking you’ll buy back when the dust settles, diversify your portfolio, hold on for the ride, and try to enjoy the wind in your face 🙂
Do you want to start investing on your own, but don’t know how?
Anything you would like to discuss about Smart Thinking On Investing? Do you have any articles you would like me to cover? Feel free to add it below. Let’s start a discussion in the comments section!
Do you like Smart Thinking On Investing? Feel free to share it with your friends.
DISCLAIMER: This content is for information purposes only. It is not intended to be investment advice. Readers should not consider statements made by the author(s) as formal recommendations and should consult their financial advisor before making any investment decisions. While the information provided is believed to be accurate, it may include errors or inaccuracies. The author(s) cannot be held liable for any actions taken as a result of reading this article. Andrew Stotz doesn’t necessarily endorse any stocks or shares mentioned in the articles or the author of such articles linked to and summarized in Smart Thinking On Investing and cannot guarantee the accuracy of its information.