A Few Basic Steps for You to Start Building Your Net Worth #hedgefund #shorts #howtobecomerich

Gary Brode of Deep Knowledge Investing and Robb Fahrion of Flying V Group discuss the 5 Things to Know in Investing This Week: The We Warned You About Rebound Inflation Edition

-Reader question: How should a young person who wants to save and invest do that if they’re not in the portfolio management business?

DKI Summary:

Great question this week from one of Intern Alex’s classmates. He wants to save and invest, but doesn’t plan on a career in finance. What should he do? It’s a real problem. It’s no longer possible to save in fiat (dollars or British pounds) as those lose value every year. Investing is a full-time job – at least it is for me. So, if you can’t just put money in the bank, and you don’t have the time to follow a portfolio of stocks every day, and every quarter, and every year, what are a few practical solutions?

DKI Takeaway:

Starting with the basics, it’s important to spend less than you make. Sure, the expensive vacation and fast car are fun, but if you want to invest, you first have to save. Now, let’s think about investments that will do well for a long period of time against your constantly devaluing currency. I’d start with positions in Bitcoin and gold. Then, start investing in energy (oil and uranium) because energy demand will only grow over time. These are positions where the long-term trends help you. The stock market tends to be the best place for long-term investors so inexpensive index funds like $SPY and $QQQ are good options. Finally, there are places where you can get help and benefit from the work done by professionals. DKI maintains a list of current investment recommendations and has inexpensive student subscriptions. Check it out here and if you’re a student, reach out to me directly.

Your links:

This week's written version of the 5 Things with graphs:

https://deepknowledgeinvesting.com/weekly-points-october-11th-2024/

Deep Knowledge Investing Subscription Page: https://deepknowledgeinvesting.com/we...

Flying V Group: https://www.flyingvgroup.com/

Learn Wall Street: https://learnwallstreet.org/

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Видео A Few Basic Steps for You to Start Building Your Net Worth #hedgefund #shorts #howtobecomerich канала Deep Knowledge Investing