Welcome to Episode 313 of the Investing for Beginners Podcast! Today, Dave and Andrew answer three great listener questions. But before we dive in, we wanted to remind you to send us your burning investing questions at [email protected]. In this episode, we address a question from Lisa, a beginner investor who is looking for advice on what to do with her existing $10,000 in her Roth IRA account. Dave and Andrew discuss the importance of understanding personal goals, risk tolerance, and time horizon when making investment decisions. They also highlight a helpful resource, Financialbirdsbees.com, which offers a free lump sum calculator to guide investors in finding the best investment approach. Tune in to gain insights on how to navigate investing strategies tailored to individual needs and preferences.
00:02:09 Financial calculator guides users on personal finance.
00:05:19 Decide time, research, and invest carefully.
00:06:25 Diverse investments: index funds and stocks.
00:12:23 Questrade: low fees, 90-day trial, live prices.
00:15:49 Seek advice from successful investor, analyze investments.
00:17:26 Open Questrade account, buy a stock, analyze. Write down thoughts and emotions daily.
00:20:39 Understanding Constellation Software takes real investigation, even losses. Initial success can blind you; my first pick, Microsoft, was lucky. Learning from failed investments broadens knowledge. Keep a journal to track insights.
00:23:43 Ask questions, write, share, learn, improve.
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You can find the transcript of today’s show below: