Investing can feel very complicated but it does not have to be so complicated. It is actually pretty straight forward and simple. In this episode, we will breakdown everything you need to know to get you started on your investing journey.
Before Investing
Take care of your personal finance. SO that means handle your debt and get an emergency fund.
1. Select your brokerage platform. I personally use Fidelity because Customer Service and Security but you can use Vanguard, Charles Schwab.
2. How much do you need to be investing? Well if you base everything on the 4% rule which states that if you withdraw 4% if your portfolio you will never run out of money. So what you do is multiple your annual expenses by 25. Typical amount is needed for retirement is $1.2 million. Then to figure out how much you need to invest to get to that goal. Go to the savings calculator website.
3. What to invest in? Very simple a Target date index fund. Because if you are like me, you are def lazy and don't really wanna spend too much time thinking about your investments. So this is the easiest way to invest. Examples: Fidelity Freedom Index Funds, Vanguard Target Retirement Funds, Schwab Target Index Fund
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How to Invest Step by Step: From How Much to What to Invest IN