Investing
This is how we're all going to retire rich, pals—and it's not as intimidating or hard as you think.Investing is something we all need to do.
Once you’ve got a solid financial foundation—an income, an emergency fund, and you’re able to cover your bills and save a bit every month—investing is one of the most important things to tackle on your financial to-do list. It’s the best move you can make for your long-term savings, like the money you’re stashing away for retirement, because it’s the only way you’ll be able to outpace inflation and retire comfortably someday.
Think about this: to save up a million dollars without investing it, you’d need to put $2380 aside every month between the ages of 30 and 65.
If you invested your money starting at 30, and earned a 5% return after fees, you could end up with a million dollars by only putting away $900 every month. Sure, that’s still $900 a month, but it’s $1480 less than you’d need to stash away without investing your money.
That said, investing is a complex topic, and people spend entire university degrees and careers studying it. Luckily, you don’t need to get that deep to set up an investing approach that works for you—and it’s so much easier than you think it’s going to be.
Learn the basics with a free, five-day course
If you’re starting from square one when it comes to investing, this is the best place to start. It’s a free, five-day course delivered straight to your inbox, and walks you through the absolute basics—with Harry Potter references and all. By the end of the course, you’ll be confident about which beginner-friendly option is the best fit for you to use to invest and how to get started.
Let the tools do the heavy lifting
For most investors, you want a few things. Your investments should be easy to manage, low cost, and try to match the market—not beat it. While achieving this used to mean going out and buying a few low-cost ETFs, there are now tools that can do all that for you: robo-advisors. Here are three of the best ones, and who they’re a great fit for.
A perfect fit for beginners, with a gorgeous interface, easy-to-use app, socially-responsible portfolio options you can choose with the click of a button, and you can get a $50 bonus when you sign up through Half Banked and invest your first $500.
A stellar option for higher-net-worth investors who want the ease of a roboadvisor with the lowest cost for large portfolios. Flat fees capped at $80 a month, personalized portfolios, and more make it a great fit for those who have more assets.
A great roboadvisor for people who want more choices in the same easy-to-use format. JustWealth offers over 60 portfolios, including target-date options, so you can be sure your portfolio is aligned with your goals.
You Don’t Need to “Save” That Much for Retirement
If you’ve seen any standard retirement advice, like “Save 1x your income by the time you’re 30” and been horrified—don’t worry. You don’t need to save that much, as long as you’re investing your money. Here’s how.
Dear Millennial, You Don’t Need Whole or Cash-Value Life Insurance
You might have already gotten a sales pitch about whole life insurance, or you might get one in the future. I’m here to help, by explaining why you almost 100% do not need whole life insurance, and what you should get instead when you do need some kind of life insurance.
What Are Your Odds of Being a Winning Stock Picker?
It is so, so, so tempting to buy individual stocks, especially if you hear people around you having great success with it. But will you actually be able to beat the market and “win” at picking stocks? Here are your actual odds.
What You Can Learn About Investing From a Guy Who Made 3089% on His Ethereum Investment (…Sort Of)
I sat down with my fiance to talk about his cryptocurrencies—what he has, how he got it, and what it all means. We’re not retiring on his Bitcoin or anything, but there are some solid lessons for anyone about investing in here, even if you still don’t really “get” crypto.
The Easiest $4,190.74 I Ever Made (And How You Can Make It, Too)
Passive income is a real thing—but maybe not in the way that you’re thinking. Running a blog? Not passive income. Investing your money, and having it work for you? Pretty heckin’ passive. Here’s how I got started.
The Best Investment You Can Make in 2017
Trust me, it’s something anyone can do – even if you don’t consider yourself an “investor.”
Why I Finally Increased My Retirement Savings
I never thought that saving an extra $25 a month would have a big impact on my retirement… except it turns out, it really, really does. Here’s the tool I used to figure it out.
A Real-Life Time Machine for Your Money
Ever wish you could go back in time and like, buy Apple when they were just starting? You can’t, but there is something you can do today that’s basically the same thing.
10 Amazing Reasons to Automate Your Investments
Wondering if automating your investments is right for you? Here’s ten reasons why it is (yes, for you!)
How To Choose The Right Robo-Advisor For You
If you’ve heard all the robo-advisor hype, and you’re sold on the approach but need a bit of help choosing one? This is what you need to know before you invest with a robo-advisor.
This Millennial Plans on Retiring. Here’s How.
One of the most dangerous things millennials can say about money is “Oh, I’ll never retire.” You probably will, and it’ll be way better if you plan for it a little bit. Here’s how.
What You Need To Know Before You Start Investing
There are a few key things to know before you jump into investing – but it’s not as many as you think, and they’re easier than you think, too.
5 Crazy-Valuable Money Steps You Can Take in Less Than an Hour
You don’t have to commit tons of time to make a big impact on your money. Here are five quick wins you can score in under an hour.
Should I Take an RRSP Loan?
Even if you don’t ever read this post, the answer is no. Here’s why not.
Does Your Savings Rate Matter When You’re Investing? (I Find Out By Accident.)
If you’re just getting started with investing, does how much you save matter more than your investment returns? I found out by accident.
Why I’m Glad I Invested Right Before The Downturn
I’m so glad that I finally invested my money, even if I did choose pretty much the worst week to do it. Here’s why that doesn’t matter to me, even though I “lost” money.