Advice for young adults on getting started with investing

An excellent article in today’s newspaper (ref. 1) presented clear advice on how to become wealthy without paying hefty fees:

  • Begin by finding good, free financial advice in the internet.  Search for tools and advice on creating a budget, finding affordable housing, building a financial plan, and saving for retirement.
  • Build the foundations of a budget, rainy-day savings, and retirement savings.
  • Invest money you won’t need for 5 years.  
  • Begin investing as early as possible and compound your interest.  

Numerous writers and seasoned investors offer the same advice.  Find more useful information in references 2-6.  

References

  1. Ny Anna-Louise-Jackson. Make your money grow before hiring an advisor. The Columbus Dispatch, November 4, 2018, page H7.
  2. Helaine Olen and Harold Pollack. The Index Card. Why Personal Finance Doesn’t Have to Be Complicated. Penguin Random House, New York, 2016. 
  3. Do-it-yourself investing- Introduction.  Small Trades Journal, 2013.
  4. Warren Buffett’s advice to nonprofessional investors. Small Trades Journal, 2014.  
  5. My Money Five. MyMoney.gov.
  6. Overview. RaisingInvestors.blog, 2018.

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