Start Investing Today (3 steps to begin)

^{Read time - 3 minutes / Disclaimer}

Investing for the first time is confusing.

But eventually leads to:

- A cushion of money.

- Peace of mind.

- More options.

Unfortunately, the game of money isn't easy.

It's a game society doesn't teach.

A game worth learning on your own.

Watching my single mom struggle to raise my brother and I was hard.

There were too many bills.

And not enough money.

This lit a fire inside me.

To figure out investing.

To avoid paycheck to paycheck living.

To leave the 9-5 in my 30s or 40s (not my 60s).

It became an obsession.

An obsession to want more.

An obsession to go from $0 to $1M as quickly as possible.

To do what I wanted when I wanted without feeling stuck in the 9-5 grind for 40 years.

After building my net worth to $1M.

This little online biz became my new obsession.

To help others figure out investing.

To share what's worked for me (and hopefully works for you too).

This journey begins with opening an investment account.

Here's the 3 steps.

Let's dive in:

Step 1: Investment Company

Picking where to open your account is the first step.

There's a bunch of choices.

Schwab, Fidelity, and Vanguard have been around for decades.

Fidelity is my personal favorite.

Their phone app is easy to use and they have amazing service.

It's important to pick a strong company with a great reputation.

Step 2: Account Type

Picking the type of account you want to open is next.

There are many options.

The most common are: 401k, IRA, Roth IRA

Many people have a 401k retirement account at work.

So, they'll open an IRA or a Roth IRA.

Using both works too.

Learning and using the different account types helps you build wealth faster.

Step 3: Index Fund

The last step is to pick your investments.

Warren Buffett (worth billions), one of the smartest money guys says—

"The goal of non-professionals shouldn't be to pick winners... rather to own businesses bound to do well... a low-cost S&P 500 index fund will achieve this goal."

Two common S&P 500 index funds are:

• Vanguard S&P 500 ETF (VOO)

• SPDR S&P 500 ETF (SPY)

When buying company stock, you have ownership in just 1 company.

When buying an S&P 500 index fund, you have ownership in 500 companies.

Conclusion

Before opening an investment account.

Check to see if your employer offers a 401k retirement plan.

If so, they may match money you put inside it.

Many employers put 4%-5% of your annual pay into your retirement plan.

Take advantage of this first (if available).

Then, look into opening a 2nd or 3rd account.

Popular options: ​Fidelity​, ​Schwab​, ​Vanguard​

Keep building💰

See you next week.

P.S.

Want to learn about a 401k, IRA, or Roth IRA?

Try this: ​Top 3 Wealth Building Accounts​