A Beginner’s Guide to Investing in 2024
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.6 • 2.8K Ratings
🗓️ 15 March 2024
⏱️ 45 minutes
🧾️ Download transcript
Summary
We’ve got a lot of new audience members that are just starting out with their money. We’ve also got a lot of you with kids, friends, spouses, or family members that you are wanting to help! We hope this will be a great resource for anyone new to personal finance. We’re going to break down the basics of investing, how to pick funds, what the different account names mean, and a step-by-step on how to actually open the accounts.
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Transcript
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| 0:00.0 | A Beginner's God to Investing, 2024. |
| 0:04.0 | Brian, I am so excited about this because this is a starting point. So many people ask us okay where do I start how to know the fundamentals how do I know the basics when it comes to building towards financial independence |
| 0:22.4 | This is going to be the first |
| 0:25.0 | break, the foundation to start with. Well, 2023 was a great year for our |
| 0:30.6 | YouTube channel as well for our podcast and what I think a lot of people |
| 0:34.3 | were shocked to find out is that about half of our audience aren't subscribers. |
| 0:39.9 | A lot of you are always coming in the doors. We're now reaching millions of you each month. |
| 0:45.0 | And I just want to make sure, hey, for those that are brand new to the journey, |
| 0:48.8 | maybe this is the Brian and Bo of Yonder year, where do you start and that's what we want to kind of plant |
| 0:55.9 | those seeds pull it a little topsoil on top of it and then let's see what sprouts. |
| 1:00.5 | So let's start at the very beginning let Let's answer the question. What is investing? Investing is this idea that I am going to take some of my dollars today and I'm going to put them somewhere or buy something that will likely be worth more later. |
| 1:16.7 | And there are tons of ways to do this. |
| 1:18.6 | You can invest in real estate, you can invest in businesses, or one of the things that we love to talk about is investing in the |
| 1:25.0 | stock market investing in financial markets where you can trade a little bit of your earnings, |
| 1:29.8 | a little bit of your wages, a little bit of the money that you generate today and you can have that money grow for you through time |
| 1:36.3 | into the future. |
| 1:37.2 | You just said it. |
| 1:38.6 | When you start out, you are trading your time through wages to create margin or money that can be invested and that |
| 1:47.4 | leads to the next point why should you invest and a big driving factor is is you don't want to have to work with your |
| 1:54.4 | brain, your hands, and your back for your entire life. It would be nice if you could |
| 1:58.8 | have something else that replaces your labor and let you do spend time on your terms and that's exactly what |
| 2:06.3 | investing is going to do for you. Now it's worthwhile to make a quick |
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