Here’s a step by step guide of How to Invest in 2019 and the basic strategies to begin investing and growing your wealth - enjoy! Add me on Instagram/Snapchat: GPStephan
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First, for those just looking for a basic place to put their money, we have the almighty Ally Bank Savings Account that currently offers a 2% interest rate. You can also use a few other high interest bank accounts, like Barclays, Sychrony Bank, or American Express Savings…they all currently offer around a 2% return.
Second…and this is arguably the most important part of this entire video…when it comes to investing, especially if you’re JUST starting out, is set up a Roth IRA. This is basically an account that you can put money into, and by the time you’re 59.5, you can pull ALL of your profit completely tax free without paying ANY capitals gains tax. Vanguard has a great option for a Roth IRA if you chose to invest with them.
Now third, in terms of WHAT to invest in, my BIGGEST recommendation for MOST people out there is to invest in an index fund with a low expense ratio. When people always ask “how can you get an averaged 8% return”…this is pretty much my advice. Long term, historically, over the last century, the stock market has returned about 8% annually, adjusted for inflation, with dividends re-invested.
Ok…number 4…and I figured I’d put this here instead of listing it back to back with the Roth IRA…but that’s setting up a Traditional 401k. This is an account where whatever you contribute is deducted from your total taxable income, and you can grow your investment tax free until you take it out at 59.5. This means that you’ll have MORE money to invest because you’re paying LESS in taxes. The “catch,” however, is that you’ll pay taxes on whatever you take out of your account after the age of 59.5.
Now number 5…back to investment options. If you want to, or you’re interested in doing a little more work, you can invest in individual stocks. I personally recommend you try to do this within a Roth IRA or 401k to avoid getting taxed on your profits…but this isn’t required. You can just as easily open an account on Robinhood, invest in individual stocks commission free, and reap some pretty great returns.
Now Number 6…my favorite…obviously…is investing in real estate Real Estate. Now unfortunately, this is one of those things that you’ll probably need to work up to. Especially if you’re just starting, unless you have a decent amount of money to already work with, I’d probably recommend saving up or investing elsewhere and then coming back to real estate one you have some capital to work with. Typically, you’re going to need about a 15-20% down payment - which could be a lot of money depending on where you’re planning to invest.
But real estate is my favorite for a few reasons:
The first if that you get immediate cashflow from renting it out.
Second, because of all of the tax deductions, most of that income you make is tax free
Third, you’re able to BORROW most of the money to buy real estate and slowly pay that off over time
Fourth, you’re building up equity as you pay down the loan - so eventually you’ll own it outright
And finally, the property is likely to increase in value over time
This is why it’s no surprise that 90% of the world’s millionaires are created through investing in real estate…and I’m absolutely no exception!
And finally…number 7…drum roll…is investing into a business. And this is probably where you can get the highest return from just about ANYTHING I’ve mentioned so far, or pretty much ANY other investment out there.
Now these are just a few ideas for you to go out and consider…some people might say forex trading, swing trading, etc, the list goes on. But as I mention time and time again, the higher the return, the riskier the investment, and that’s absolutely something to take into consideration.
For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected]
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;) I have 10K in VTSAX....I'm growing my investments. 10k in Ally, 5k in Robinhood, 5K in my Credit Union, 10k in Metals Gold and Silver. Graham inspires me, next step is to save for real estate. This is not including my 401k and HSA with my employer.
Zillow shows a nice house in my town for $200,000 and says the monthly payment would be $944 with 20% down, $1,099 with 3.5% down, and $1,249 with 3.5% down and mortgage insurance. It also says the property would rent for $1,250, which would leave $1 for taxes, maintenance, and other expenses. At what point is this profitable? :)
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(Scam alert) this guy wants you to invest in the stock he's got to build up the stock so he can sell and take your money. Leaving you with the loss. Research and see for yourself.
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Don't hate upon Algebra II!
As there is a strong corroboration between better mathematics education and improved financial literacy.
You might not use the specific algebra tools you learn, but the better improved thinking you develop will greatly improve your financial aptitude in the future.
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Obviously this is an old video, but even in your newer videos I haven’t seen it, have you looked into Aspiration online bank at all??? They have free banking, atm fee return, 2% saving accounts, and they even have the option to invest in IRA portfolios through them.
One thing that's not true that he said is if you are in a low tax bracket your not paying that much in taxes not true. Low income become pay huge taxes... It's called capitalism. I know. I have years of lived experience. But, the rest of the video 👌🏾
Ally Bank cheats their clients based on the way they calculate the Interest Rate they pay. They stagger when they pay the IR during the month and if you do a spreadsheet and compare the interest you would get, if you're getting interest paid at the end of the month VS the staggard approach that Ally uses, you'll see a sizeable difference in their favor.
@Alex Aleshire, the number one priority is that if you have ANY credit card debt, pay it off. If you're paying c/c interest you are literally throwing money away. So, #1 is pay off any c/c.
#2 make sure you have a minimum 3 months worth of money in an emergency fund. Some people say 6 months. So calculate how much money you spend every month (not how much you get paid) on rent, food, car insurance if you have a car, etc. Multiply that by 3 and take that money and put it into a savings account such as Ally. That way if you lose your job or there is a need to pay for something, you have the cash.
#3 Open an account with a low cost, online brokerage such as TD Ameritrade, Etrade etc and put the balance of your money into no load mutual funds. Make sure these are index funds that mimic the stock market. You need to be diversified so don't put it all in one basket but any S&P 500 Index fund is a good place to start.
There is a lot more to get into but you need to start doing research into what a diversified portfolio is. A good place to get info is in the r/personalfinance sub over at Reddit.
Depends on where you are right now. Are you close to retirement are you younger a lot depends on your age. As a younger person I'd recommend growth stocks AND REMEMBER TO DIVERSIFY!!!! Growth stocks are great if you're young cause you can sit back, wait a while come back and see where the company is now. If you're older and you need some income I'd suggest dividend stocks with a great record of increasing their dividend like KO, Coca Cola.
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Alright so im going to ask a dumb question but i just started my climb to the top so I think I'm allowed rookie questions... what % of ur income after need expenses do u split between Roth IRA, index fund, and emergency online savings.... Or to make it more simple how do u balance ivestments verses versus cushion money in online banking?
Hi Graham, Is there a good website to invest when you're in Canada. I tried to sign up in Robinhood but it seems to be for the US only. And also, what do you think about investing when you're not a permanent resident yet in that country?
Thank you in advance.
Buy a duplex and rent the other building or depending on where you live buy a house and rent out the rooms while living there.. Save the money and buy your first investment property.. After that keep the ball rolling
Yeah, really wtf, US Department of Education?! Attend to day to day requirements:
- how to live on a budget
- how to get a job and live off its income while how to search for a better paying job
- how to interview well
- how to run meetings
- how to create reports from self produced data (such as what you spend your money on)
- how to invest (what are the instruments and how to strategize)
- how to fix your body when it breaks / heal it when it gets sick
- what workout routine will keep you healthy, for the most part
- how to fight
- how to survive in the wilderness, the desert, the mountains, the cold
- how to start a fire
- how to build the most basic inventions which set us (humans) apart from other animals (stoneware, metalware, clothing)
- how to garden and raise crops and animals
- how to slaughter animals (bleed them, cut them well, respect them when we eat them)
- how to fish and trap
- how to build a house
How many of us learned these from our family and on our own? What's the ratio of those whom have learned them in school vs outside of school?
This is probably a stupid question but maybe someone here can help me...I currently have a Roth IRA with RBC Bank. Can I also invest with Vanguard VTSAX or is that a Roth as well? Would I have to transfer my Roth over to Vanguard to do that??
Thanks in advance.
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The problem is that mutual funds usually have high fees whereas Index funds do not. I am sure there must be companies that will allow you to buy these in Indonesia. I use Hargreaves Lansdowne (pretty sure they are global?)
The problem is not that Facebook and Google are the only advertising platforms. The problem is that they are considered mainstream media and without these two, the trend of cryptocurrencies gaining legitimacy is delayed. That is right, I said delayed not blocked or prevented.
The World Has Changed.
Five years ago, when bitcoin was unknown to most people, this might have been a fatal move. Today is a different story. I recently traveled to a remote mountain town in the interior of Mexico. Everyone I met had heard about Bitcoin and eyes lit up with excitement when I ask if I could pay for lunch with bitcoin.
Today are dozens of websites dedicated to cryptocurrencies, either holding them, exchanging them or just writing about them. Probably the most effective advertising remains on Google, it is called Google Search and it is free.
If someone wants to learn about owning bitcoin or any other currency, there is a ton of educational information.
The Flipside Is Being Ignored.
Not All Regulation Is Inherently Bad.
If we examine the full spectrum of regulation to this point on a global scale there is one common target most everywhere. That is the practice of exchanges. So far there has been little or not regulation, threatened or enacted, to protect investors from loss of funds due to security breaches.
Capitulation Is A Good Sign.