From starting investing in 2013 to achieving a 6-figure portfolio by age 25, there were a few investment principles I picked up along the way. Time can either be your best friend or you worst enemy, procrastination is the deciding factor for that one. Also, KISS (Keep it simple stupid), you don’t need a sophisticated investment strategy to build long-term wealth, just time and discipline. A wiseman once told me, “You can control two things, how much you spend, and how much you earn, but controlling your spending is a whole lot easier!”. DM me on any platform listed at the bottom of the description or email me at wallstjunky@gmail.com for any questions or topic requests
The quick and dirty to starting to invest:
-Track your expenses for a month
-Notice how much is spent excessively on things like food, drinks, etc.
-Cut expenses by say, $50 (eat out twice per month and Starbucks once a week instead of two) -Open either a traditional brokerage account or contribute additional capital to company 401k
-Just to list a few brokerage companies: TD Ameritrade, Fidelity, ETrade, Vanguard, Charles Schwab, and many more
-The investment industry has gotten insanely competitive, as a result, most brokerages charge no commissions for Stocks or ETFs -Set up automatic monthly contributions into your brokerage account so you don’t spend that $50 you saved in expenses!
-Listen to the entire podcast and do your own due diligence on low-cost investment vehicles like ETFs, Index Funds, or even some Mutual Funds
-Invest at all times (up markets, down markets, sideways markets), enjoy the ride! Don’t try to time the market!
ETFs discussed in this podcast:
VUG - Vanguard's Large Cap Growth fund that focuses on passively investing in large-capitalization growth stocks.
VTI - Vanguard's Total US Stock Market fund that attempts to replicate the total return of the US Stock Market
VOO - Vanguard's fund that tracks the S&P 500
Favorite economists to follow: Mohamed A. El Erian & Peter Schiff
Try TD Ameritrade’s free platform, ThinkOrSwim, that allows you to open a paper account and simulate trading and test your strategy: https://www.thinkorswim.com/home.page
Technical programming background? Try this Youtube series that merges Finance with Python: https://www.youtube.com/playlist?list=PLQVvvaa0QuDcOdF96TBtRtuQksErCEBYZ
Some people have been asking, suggested reading and other resources:
Intelligent Investor (Warren Buffet approved): https://www.amazon.com/Intelligent-Investor-Definitive-Investing-Essentials/dp/0060555661/
Think and Grow Rich: https://www.amazon.com/Think-Grow-Rich-Landmark-Bestseller/dp/1585424331/ The Science of Getting Rich: https://www.amazon.com/Science-Getting-Rich-Wallace-Wattles-ebook/dp/B01MRH3EZQ/
Investopedia (Online Investment Encyclopedia): https://www.investopedia.com/
Seeking Alpha (Articles and research covering all asset classes, crowd-sourced): https://seekingalpha.com/
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Business Email: wallstjunky@gmail.com
DISCLAIMER: The podcasts on this channel are meant to educate, not to constitute advice. Joshua Lutkemuller is not registered to provide investment advice and as such does not provide recommendations on the channel or podcast - those looking for investment advice should seek out a registered professional. Joshua is not responsible for investment actions taken by viewers and his content should not be used as a basis for trades.
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