In today’s episode, Evan joins us to discuss crucial financial concepts that can impact your long-term success. He shares his experience of managing a significant income increase, the importance of proactive financial habits, and the benefits of investing early. Learn about avoiding common pitfalls and making smarter financial decisions. Dive in!
00:00 Treating extra money as essential; avoid overspending.
05:40 Navigating financial education, questioning concepts, discovering investing.
07:52 Avoid short-term, complex trading for long-term growth.
11:27 “Dollar cost averaging: Simple, effective investment strategy.”
15:06 Standard savings accounts provide minimal growth opportunity.
17:26 Misunderstanding credit can lead to financial trouble.
21:18 Building credit is important, but not decisive.
24:52 Roth IRA: tax-free, accessible in emergencies. Standard taxable brokerage account: subject to taxes.
27:50 Shift to bonds as retirement nears for security.
32:30 Start small, build habit, secure financial future.
33:44 Find impactful, straightforward financial resource online.
Today’s show is sponsored by:
Go to shipstation.com and use code INVESTING to sign up for your FREE 60-day trial.
Go to monarchmoney.com/BEGINNERS for an extended 30 day free trial!
Sign up for a one-dollar-per-month trial period at shopify.com/beginners.
Find great investments at Value Spotlight
Have questions? Send them to [email protected]
Start learning how to value companies here: DCF Demystified Link
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You can find the transcript of today’s show below:
