Eric Tyson - Investing in Your 20s & 30s For Dummies

9 Part 5: The Part of Tens Chapter 16: Ten Things to Know about Investing Resources Get Educated to Discern the Best from the Rest Beware “Free” Understand the Influence of Advertising Value Quality over Quantity Know How to Check Out a Resource Beware Hype and Exaggeration Don’t Assume Quoted Experts Know Their Stuff Investigate Gurus’ Claims Don’t Believe Investment-Newsletter Claims Check Out and Keep Up with My Favorite Resources Chapter 17: Ten Essential Tips for Investing Success Regularly Save and Invest 5 Percent to 10 Percent of Your Income Understand and Use Your Employee Benefits Thoroughly Research Before You Invest Shun Investments with High Commissions and Expenses Invest the Majority of Your Long-Term Money in Ownership Investments Avoid Making Emotionally Based Financial Decisions Make Investing Decisions Based on Your Plans and Needs Tap Information Sources with High Quality Standards Trust Yourself First Invest in Yourself and Others Chapter 18: Ten Things to Know about Investing Apps Beware of the General Dangers of Putting Apps on Your Cell Phone Use Apps Only from Proven Companies with Good Reputations and Longevity Consider the Alternatives to an App Use the Best Personal Finance Apps to Have More to Invest Be Skeptical of Investing Apps Offering “Free” Trading Review Current and Historic Financial and Economic Data Invest with Leading Fund Providers Tap into the Best Investment Brokerage Firms Examine the Best Real Estate Apps Seek out Good Small-Business Apps

10 Bonus Chapter: Taking Care with Health Insurance Making Sure You’re Covered Finding Your Best Health Plan Shopping for Health Insurance Health Savings Accounts: Tax Reduction for Healthcare Costs

11 Index

12 About the Author

13 Advertisement Page

14 Connect with Dummies

15 End User License Agreement

1 Chapter 3 TABLE 3-1 How Compounding Grows Your Investment Dollars

2 Chapter 4 TABLE 4-1 2021 Federal Income Tax Rates for Single and Married Households Filing...

3 Chapter 10TABLE 10-1 Longer-Term Fund Asset Allocation

1 Chapter 6FIGURE 6-1: A sample Truth in Savings Disclosure statement from an online bank....

1 Cover

2 Title Page

3 Copyright

4 Table of Contents

5 Begin Reading

6 Index

7 About the Author

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Investing offers so many possibilities and so many choices. Your young-adult years, which at least for the purposes of this book I define as your 20s and 30s, are filled with so much promise and potential. Your career, your interests, your personal life, and your family and friends all compete for your time and attention.

Most folks work upward of 2,000 hours per year earning a living. Managing the money that passes through their hands is an important task, one most people aren’t trained to do.

Earning money generally takes a lot of work. Managing your personal finances and saving money take discipline and sacrifice. When you have money to invest, you want to do the best you can so you earn a decent return without ending up in failed investments.

I designed and wrote this book to help you with the important and challenging task of investing. Your young adult years are a crucial and ideal time to lay the best foundation for investing wisely. After all, some of the investments you make now and in the near future will have decades to grow and multiply.

I talk some simple numbers here to get you excited and motivated. Stocks in the United States historically have returned an average of about 9 percent per year. At that rate of return, you will double your money every 8 years. So, in 16 years, your money will be up four times, in 24 years, your money will be up eight times and in 32 years, you money will be up 16 times. Wow! This means for every $1,000 you can invest in your 20s, you could have about 16 times that amount by your 50s and be on the road to financial independence. The more you can save and intelligently invest in your younger adult years, the quicker you will reach the land of financial independence.

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