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Before you start investing, here’s what experts want you to know


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These are the things that experts recommend to you if you want to get into this market.

Investment is a wonderful way to build wealth. But you must be smart about it. Cathy CurtisCurtis Financial Planning is a founder and CEO based in Oakland, California.

This means that you don’t have to follow the trending stock or trade.

Curtis is a member the CNBC Financial Advisor Council.

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They invest in IPOs [ initial public offerings]”They think they are cool, and so do companies,” she said.

It makes good sense for them to get the things that they know their girlfriends and friends use, but it’s not always a smart investment.

During the pandemic, new investors inundated the market. Some investors piled in on certain stocks like the meme stock or got into cryptocurrency.

The following are some of the highlights. S&P 500 IndexIt was up over 25% in 2021. However, the story is different in 2022. The index has dropped about 13% for the year so far. CryptocurrenciesThey have suffered a lot.

This has resulted in an increase in doubt around the markets, according to financial advisor Mitch Goldberg of ClientFirst Strategy Melville, New York.

He stated, “Every generation needs to experience this.”

Goldberg stated that this generation was no different to the 2000 tech disaster. People thought that they knew everything about the new paradigm.

What steps should you take?

Curtis recommended that you put at least the match of your company’s 401(k), into your 401(k).

You can also open an individual Roth retirement account if this is not possible. See income limitations here.) The money is paid in after you pay tax. It grows without tax and doesn’t get taxed when it’s withdrawn. Contributions can be withdrawn at any time without penalty.

The best way to choose investments is to be simple. Start by using a diversified fund, like an S&P 500 Index fund, Goldberg said. This will help you not only grow your money over the long term, but also allow you to learn about the markets.

The stock market is always rising over time as history has proven. Since 2009, the S&P 500 has averaged gains of about 15% a year.

Goldberg advised that you should set aside some money from your pay before spending. Otherwise, you will be dependent on your own willpower.

According to him, “If you start saving and investing money before spending the rest of your income, your chances of becoming an investment guru and increasing your net worth are significantly higher.”

Goldberg suggests that you don’t obsess over the exact number of years it takes to retire. It can seem overwhelming, and it could prevent you from starting.

He said, “Just start small.” To get used to having money in another bank account, it could be $50 or $100 per month.

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Disclosure: Comcast Ventures is an investor in NBCUniversal. Acorns.