In this episode of our personal finance series, host Evan Raidt is joined by Andrew Sather to discuss actionable steps for beginners looking to start investing.
They emphasize the importance of building an emergency fund, setting up a brokerage account, making the first investment, and automating future investments.
The episode also covers basic insights into the stock market, the significance of consistency, and how to manage emotions during market fluctuations.
Listeners are guided through practical steps and are encouraged to begin their investment journey with confidence.
00:00 Introduction and Welcome
00:25 Recap and Today's Topic
01:14 Investing Mindset and Consistency
04:38 Understanding the Stock Market
07:04 The Power of Compounding
14:43 Emergency Fund Essentials
20:30 Opening a Brokerage Account
23:41 Avoiding Hidden Fees in Your Investment Account
23:53 Choosing the Right Type of Investment Account
24:05 Retirement Accounts vs. Taxable Accounts
25:37 First-Time Investment Recommendations
27:08 Making Your First Investment
29:44 Automating Your Investments
32:30 Understanding Dividend Reinvestment Plans (DRIP)
35:52 Handling Market Fluctuations
42:16 Encouragement for New Investors
Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.
Today’s show is sponsored by:
Go to SHOPIFY.COM/beginners to start selling with Shopify today.
Get your summer savings and shop premium wireless plans at MintMobile.com/beginners
What do Dave and Andrew recommend?
Our #1 recommended stock research platform is FinChat (now Fiscal.ai). Get 2 weeks access for free using our link (no card required): fiscal.ai/ifb
Andrew works really hard to find the best insights he can every single month at Value Spotlight. To see a sample of his previous work, go to stockwriteup.com.
Have questions? Send them to Evan at evan@einvestingforbeginners.com or newsletter@einvestingforbeginners.com
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