Investing in the stock market is an intimidating thing. Many millennials are told to start investing while they are young – this ensures your investments have time to grow over your lifetime. However, just getting started in investing can be extremely difficult.
There are multiple ways to start investing, such as opening/starting an IRA (individual retirement account), or joining your companies 401k/403b plan, but for the most freedom you will want to open a brokerage account. A brokerage account allows an investor to deposit funds with the brokerage and place investment orders with those funds. Continue reading How to Start Investing in the Stock Market
Tax return season is upon on, and this is good news for lots of Millennials. It’s great to get a lucrative return, but what to do with this large sum of money is another question. Below are 5 ways to use your tax return wisely.
#1 Pay off existing debt – highest interest first
If you have existing debt this is a good chance to pay off a huge chunk at once. Pay off whatever debt has the highest interest rate first, usually credit card debt would fit this. Paying off debt early will save you lots of money in the long run, as you will be paying mostly principal on the loan, not interest payments. Continue reading 5 Wise Ways to Use Your Tax Return
Tomorrow. Tomorrow is the worst day to start investing, let me explain.
One of my favorite quotes from Warren Buffet is “Never depend on a single income. Make investments to create a second source of income.” You want the money you are able to save to be put to work, ultimately increasing in value.
Continue reading The WORST Day for Millennials to Start Investing