Smart Thinking On Investing – December 23
Julie Bort of the Business Insider uncovers how blogger Elona Karafin travels the world on her weekends for under $1000 a trip. And recently married millennial entrepreneur Chelsea Krost discusses how to talk finances with your new spouse on her website….
Refrain From Developing Bad Investment Habits
- Current trends from the recent market cycle have been to chase returns, ignore risk management, and have home country bias—for the US at least
- It’s easy to see why following these strategies could turn into bad habits, but remember that all trends eventually reverse
- You may have gotten lucky with these approaches till now but don’t let that kid you into more bad decisions
- Stay strong; market longevity is achieved by continuously making good decisions even if occasionally they have poor outcomes
Be aggressive, B-e Aggressive…
- …about your debts. Get with the trend and set your sights on financial independence; start by keeping your fixed costs low
- By being “lean and mean,” aiming for as few bills as possible each month you will have more money to pay off your debts quicker
- Don’t underestimate the risk involved with carrying debt for longer than necessary, all that money you’re paying on interest could be working for you instead
- Get rid of the debt and put that extra towards investing for your financial freedom
Robo-Advisors: The Best of Both Worlds
- Robo-advisors give you all the benefits of being involved in the stock market with none of the conventional difficulties faced by newbie investors before their invention
- Their tech and algorithms work to align you with a thoroughly diversified portfolio within your risk tolerance sphere
- On top of that, they cost you a fraction of the price that a fund manager will charge you for his/her fees
- Best of all; you can organize the whole thing online—simples
Which robo-advisor do you use? Share your experience in the comments section below
How to Make the Most of a Weekend Getaway
- “Elona the Explorer” spends her weekends traveling to as many locations as she can, budgeting the trips to $1,000 for airfare, hotel, entertainment— all of it
- Her goal is to prove that we all have the capability to achieve this, it’s only our attitude that holds us back from going, by claiming we “don’t have the time”
- Be open minded about your destination; take advantage of mid-week online deals and go where the bargains will take you
- Most importantly though learn to value your time, not money
Tackling the Tough Finance Conversations with Your Partner
- Millennials are making waves in the finance world with their modern tech-based approach to investing and finances—make them work for you together
- Plan out mutual goals for investing, saving, and retirement
- Work out what is best for you; whether it’s combining your accounts or keeping them separate, only by being open will you avoid dispute
- However you choose to set up your finances it’s important to maintain communication; be sure to voice your ideas and concerns but listen to your partner’s too
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.