Investing for the Simple Minded Millennial – Podcast Episode 025
How can you get over your fear of investing?
Despite decades of research behind the logic and math of investing, getting started can be terrifying. Investing always involves some risks, and with market data and the news constantly in our face telling us the next dip is around the corner, it’s easy to justify staying away from the stock market. Not to mention, these are likely the years we will have the lowest earning potential, why throw our hard owned dollars into a fund we cannot touch for decades?
Money is always just as much (if not more so!) an emotional game than a logical one. We get it, you should be putting at least 10% of your paychecks towards investing for retirement. It’s hard balancing bills and debt payments off at the entry level salaries we make, and to think of investing excess money can be laughable.
It’s easy to view investing as too risky, too expensive, or just too complicated to even do. It’s much easier to just say “i’ll learn about that when I’m 30 or 40!” instead of getting started now. But is that the best mindset to have?
In this episode, we breakdown:
- The risk of investing
- How to get started investing (NO, you don’t need thousands of dollars)
- Why you should be investing
- The emotions behind investing
- Erik explains the math behind investing and it’s actually EXCITING
- Compound interest and how magical it is
So get out there, invest, and make that money work for you!