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Investing 101: Basic Tips on How to Start Investing
Manage episode 439432613 series 3580522
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Ceci and Bryson discuss investing and provide tips on what to do and what not to do. They define investing as putting money into a bucket to grow further and emphasize the importance of looking at investments as a long-term strategy. They highlight four dumb things people do when investing: expecting to get rich quick, not dollar cost averaging, thinking they need a lot of money to start, and letting emotions get in the way. They also answer a listener's question about investing outside of traditional corporate offerings.
Investing Tips:
- Investing is putting money into a bucket to grow further and should be viewed as a long-term strategy.
- Avoid expecting to get rich quick and focus on dollar cost averaging, which involves investing a fixed amount regularly regardless of market conditions.
- You don't need a lot of money to start investing; even small amounts can make a difference.
- Don't let emotions guide your investment decisions; treat investing as a black and white, emotionless process.
- Consider high yield savings accounts and Roth IRAs as alternative investment options outside of traditional corporate offerings.
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