Got some money? Thinking about investing? Independent and don’t want 5% of your money to go to a money manager? You could do worse than following the below:
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You remember my post from last week, Everything You Need to Know About Personal Finance, right? Once you’ve made the commitment to that first step, then you can move on to…not the above. Look here:
Investing in a Brokerage account is the last step!!!
- Max out your 401k.
- Build a safety egg in a low yield savings account, CD, Money market fund etc. This will offer a low rate of return. THAT IS THE POINT. This is emergency money.
- Roth IRA
- Lastly, is investing in individual stocks and mutual funds.
Get your finances in order when you are young. Don’t let it wait. Don’t outsource it to someone else.
No one cares more about your money than you.