00:00Like I don't even know what investing is. What you want to do, you're a young lady
00:05I think, or you've had some fabulous work done. Honestly, 22 tops. Fantastic. 24. So I, let me tell you
00:13what the next two years are like.
00:16As some of you know I'm a comedian, but money-wise is not as funny.
00:21What has to be in the bank to even start investing? Great question. So let's
00:27start off question number one. Do you have credit card debt outstanding? No. Great. Okay.
00:33Because nobody is allowed to invest until they pay off their credit card debt.
00:38Second question. Have you built an emergency fund? Yes. Okay. Fantastic. Okay.
00:43Then you are ready. Okay. Out of every paycheck you just put 10% in there before
00:49you even think about anything else. Look to invest over a wide array of types of
00:55investments. Yeah. Large cap value, U.S. stocks, bonds. Yes. How do you not crash? Well, your 20s, you can
01:03afford a lot of risk for the return.
01:05You can be in a lot of equities and if things go bad, eh, you can make it up. If
01:10you're 80, you can't do that. You need to be in more stable assets. Here's the other
01:15thing. We tend to think of investing as one and done, but if you invest a bit over
01:20time, you'll get market returns over time. So it can't be a one-time thing. It should
01:25be an ongoing thing. What you should be investing in at 22 if your only goal is
01:30retirement is very different from at 80 if your only goal is retirement. And then
01:35as your circumstances change, you got a big raise, your life changed. All of a
01:40sudden it was all about retirement so you could have a lot of risk and it's now
01:44about buying the home or whoops, you're pregnant. Those things change. Thinking
01:48about reallocating and changing your goals and changing your financial plan is
01:52super, super important. The idea is that I don't have to know about the market,
01:57right? Like you guys know about it. As a fiduciary, we are obligated to act in your
02:03best interest. It might feel scary to start investing. To me, it's scarier not to.
Comments