Rule #1 Finance Blog
With Investor Phil Town
Over the years, I have been blessed with an incredible amount of investing success – so much so that I was able to turn my meager income as a river guide into an investing empire. However, even the most successful investors’ journies are still fraught with errors and investing mistakes, and my journey is certainly no exception.
Nevertheless, as painful as these investing mistakes were at the time, I have learned a lot from them and have used them to become a better investor.
Getting started investing when you’re a beginner can be plenty intimidating at first.
The learning curve combined with the fact that you are putting your own money at risk is often enough to scare many average people away from one of the safest ways to financial freedom.
While investing has historically been left up to the big guys at big banks managing big money, that’s not the only way to invest today. Investing is accessible to everyone with every size bank account. There are plenty of small investment ideas for as little as $20 or as much as $1000.
Everyone needs to start somewhere. In fact, if you’re just beginning your investing journey, it’s a good practice to start small.
Stock market volatility may sound scary, but it’s actually essential in order for Rule #1 investors to be successful. It’s the reason why there are opportunities to purchase great companies at great prices.
Today, I’ll get into exactly what is market volatility and why you shouldn’t be afraid of it.
The stock market health is a good indicator of how the overall economy is doing, which is why it is often used interchangeably with the economy—but these two are not one and the same. To clear up the confusion, I’ll answer the question: how does the stock market affect the economy?
Now, let me tell you how I view the current stock market – or any stock market for that matter. First of all, I’m never optimistic or pessimistic about the overall market in terms of what direction I think it will go. That’s because I never buy the stock market. I’m not buying index funds Read more.
The economy is at a standstill, the employment rate is at a staggering 15%, and if you’re wondering if you should learn how to invest during a recession, the short answer is yes because this state of the market is most likely here to stay.
The world has never before seen a pandemic like the one we are experiencing right now. During this time there is extreme uncertainty around both the future of the economy as a whole and personal financial situations, but what if I told you that you could learn how to invest during a pandemic—or any market condition—and thrive?
You have likely thought about generational wealth whether you know it or not. It means wealth for you, your children, your grandkids, their grandkids and so on all the way down the generations.
Worrying about our kids is second nature. If you have considered how your own parents provided for you, or have thought about how you will make sure you have enough in the bank to sustain your family after you’re gone, you have mulled over this concept of generational wealth.
The U.S. economy could slip into a recession at any time, so creating a crash-resilient retirement is more important than ever. Read more.