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As a student interested not in just getting rich quick, how can one really learn how to invest their money wisely?

Too often we hear that education systems don't prepare us for real life, but I think they are trying to improve this. But what are some great resources to learn about money management and wealth as a student?

#investing #real-estate-investing #money-management #wealth-management

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Brian’s Answer

If you're just starting out in your career and your main goal is to save money, perhaps for your first home, investing in your company's 401K plan and basic index funds like the S&P index fund can be a good start. These are simple and effective ways to grow your savings. However, once you've built up a substantial savings, it might be a good idea to seek advice from a financial advisor. They can guide you through more complex financial strategies such as financing big purchases, optimizing your taxes, and exploring alternative investment options if you qualify. Understanding all these options on your own can be quite challenging, so getting professional help can be beneficial.
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Donald’s Answer

first you need to start with a budget. How much can you save, then how much do you want to save. Once you have a steady plan of savings that is feasible and repeatable then you can start investing. Many companies offer managed products/robos that give you access to hundreds of different types of investments all housed under just one product. Before purchasing you should understand how much risk you are willing to take, your time horizon, and the goal for the money.

in more simple terms, you will first need to open an account. Either retirement or non retirement, then deposit the funds, then purchase the investment. This can all either be done online or you can speak to a financial consultant/advisor. The time of needing millions to work with an advisor is far passed us so don't afraid to ask those tough questions when you call.
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Justin’s Answer

The first thing to learn about money management is how to manage your own finances. Learning about how to balance a personal budget. How much is your income, then what are your monthly expenses? The amount left over is called your discretionary income. It is the discretionary income that you should use for your savings. The more discretionary income you have the better as that allows you to increase your savings rate. Those savings then have to be invested wisely. The younger you are the more you should invest in equities with the balance going into conservative investments like fixed income products that offer income on the investment.
One additional thing to consider is to have a safety net of 6 to 12 months of funds set aside for emergencies (loss of job, health issue, etc.)
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Leah’s Answer

One basic principle to learn is to budget, understanding your means of income vs. expenses. Another is to 'save early, save often'. Time is your best friend when it comes to investing and building wealth. Adopting these behaviors will be invaluable to you throughout your life and afford you the ability to become financially stable. Start investing early through employer based retirement programs (ex: 401k - take full advantage of the match that is offered) or individual investment accounts (ex: Roth IRA). Find a reputable financial advisor to help guide you, as well as attend any investment-based seminars or courses - employers usually offer these to new hires / employees - take advantage when they are made available to you. Consider reading books or subscribing to a finance / investment magazine (ex: Kiplinger's) - any tips you learn along the way will be helpful in building your financial acumen.
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sergio’s Answer

Learn to budget and live within your means. The number one issue with big spenders is that they are not able to live with in there means. Creating and sticking to a budget is among the most important factors for financial freedom. Another tip is to start investing frequently into the market.
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Christopher’s Answer

Try reading "The Big Secret for the Small Investor" and "The Little Book that Beats the Market" both by Joel Greenblatt. Both books have great fundamental advice.
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Sean’s Answer

Investing is not about “getting rich quick.” Investing about sticking with a disciplined savings plan, investing in diversified stocks and letting run its course. Any financial advisor who sells you on the next get rich quick scheme should not be trusted.


As a a fun experiment look at the S&P500 in 1982. Assume you invested $1,000 and calculate how much money you’d have today. That $1,000 will grow, but it doesn’t turn into $5mm in 36 years. Now calculate how much you’d have if you sunk $5,000 a year into the S&P500 for that same 36 years. Now you’re rich.


The real answer, though probably not what you want to hear, is get a degree in a something that will enhance your earning potential doing something you enjoy, learn to live on less than you make, stay out of debt (only two things worth financing, a car and a house) save and invest over your working career. You’ll be able to retire early and be comfortable for the rest of your life and not relying on Social Security as your only income.

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Laron’s Answer

Some good resources, are Dave Ramsey's book The Total Money Makeover. There are some investment apps, to help you get started with investing, like Stash, Acorns, Stockpile, and Robinhood. Another book is Robert Kiyosaki's book Rich Dad, Poor Dad, and David Bach's The Automatic Millionaire. There's also a website, www.betterment.com Also, check out Jeff Rose on Youtube, he gives great advice, on how to get started with investing.
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