How to Invest: Invest Your First $5000 | Phil Town

I would like to know more about roth ira

What happens when the overvalued stock markets correct. Or will the government keep creating inflationary pressures to infinitely with QE 45678. My opinion is don't gamble and lock that wealth up in metal.

In my opinion, your emergency fund should be in an account that has no risk of decreasing in value. The goal shouldn't be to "invest" it but to preserve the capital and have a rate of return that beats inflation all while being able to access the funds very quickly. A high yield savings account with an online bank that is different than your checking account that has no minimums or fees is a solid option (especially one with a debit card or check writing privileges). Save up 6-12 months of "basic" minimal living expenses and put it into this account and only use it as an absolute last resort. After this is taken care of use a percentage of your income to pay down debt & use a percentage of your income for new investments (at the same time). Once your debt is paid off start putting that money that was used to pay off debt towards your investments. If your employer matches 401k contributions make sure to at a minimum put the amount to get the full match (free 100% return on money). Research the pros and cons of HSA, 529, 401k, IRA, and other tax advantaged investment vehicles to make sure you are getting the maximum tax advantage.

Phil gives good advice, just don't risk your emergency fund in an account that can decrease in value. During a market downturn it can get wiped out and that might be when you need it the most!

Pro tip: Keep almost no money in your checking account. Most checking accounts receive extremely lowest annual interest and should be used as a sorting depot to your other accounts (e.g., savings, brokerage, retirement etc). Also keep very little money in a traditional savings account. You might only earn 0.01% APY on those funds which means your money is actually SHRINKING in value each year in terms of its purchasing power.

Let tell what you can do buy a stock which cost you 0.01 cent per share once this share goes to 1 dollar you will have 500k in less than a year ? i did that and i made it ? this guy is only talk things with no sense

I am 15 and just earned 5,000. I am looking to invest this money for long term benefits. Any advice?

How do you create a Roth IRA for investing without going through a broker? I don’t understand the process.

First of all, where do I get $5000?

we cant make money with stocks , because all brokers will take my investment as fees !! so when i hold stocks , my 5000$ will become 50$ with fees and commissions

I'm a Student.I know nothing about anything in investing.Can I too start investing?Are these "vehicles" different for different countries?

Phil is obviously invested in apple.. Good choice my man!

Nice video!

shouldn't the first 5k be in a high yield (2%) savings account so it is truly immune to market conditions? if market crashes same time u r laid off, the roth ira account that you will have to take out of will be depleted and you will be taking a loss at the worst time possible

I invested $5500 this year. I didn’t do normal stocks because we were obviously at the top. I looked at precious metals. They had been beat up all year and bought those stocks. It’s been really good for my retirement. I may soon start moving that money out of there and back into Dow Jones or s and p.

This man's eyebrows do not move

So Phil how exactly does this work? I would just have the 5000$ put it in an investment and dont have to touch or add to it and it simply grows over time?

An IRA of any kind is out of the question for someone who doesn't work. The contributions have to be from earned income and not from retirement or extra money laying around.

I have some money to invest next year, but are you saying not to invest in a mutual fund that contains four index funds???

I have a Morgan Stanley account for Amazon Stocks.  What other Company or Companies would you recommend?  Also My advisor told me to start a E-Trade account????  I just wanted to buy and hold stocks. I want Long term investing goals.  Suggestions are welcome.

before you invest your hard earned fiat currency in a "government" scheme know the rules, and wait – the rules can change when the corrupt politicians decide they need your saved money to pay for someone else that didn't save a dollar – buyer beware

my first investment was bitconnect 🙁

I plan on reading all of your books, but which one would you recommend reading first?

I took my first $5k which I worked for years to obtain and invested in buying motorcycles at great deals then selling them for a profit. Made a bunch of money, then lost it all by putting my money in the wrong hands.

Starting fresh a decade later mustering up another $5k but this time buying cars at good deals and then selling them for a profit. I don't own much but everything I have is all paid off for. Now I don't touch a deal unless I can at least make 100% profit within a few months. So I think I'd rather keep doing what I'm doing than messing around in the stock market or especially giving my money to the banks whether it's for an Ira or anything else.

But I do like the concepts being taught here which is investing for a better future. How we do it will always differ, but once we are doing it, it is great.

Crypto. All in

Thank you

Learn how to invest in the stock market! – goo.gl/Dv6YhZ ?

I Invest money in this order:
1 education
2 tools
3 buffer
4 index fonds

Just opened my Roth IRa with TD Ameritrade. I'm putting 5500 and waiting for the crash next month to buy on sale!

This only applies the US citizens

"You're sure to make money if you buy 10 dollar bills for five bucks."

Thank you for your videos. Now I need to apply all of this to the UK equivalent.

investing all in crypto/gold/silver

Yes, don't invest in coca-cola because you hate sugar, it'll hurt them a lot when they don't your 5k bucks. Just ignore the money it can give you because you hate sugar. That is sound financial advice.

Just once I would love to hear someone recommend not indexing or ETFs. Go do something fun. Lock yourself in a room for 3 months and learn to trade soybean futures or forex. Hail Mary because earning 4% on $5000 is so dull.

I invested my 5000 into 7 new AR15. When they ban them I will cash in.

Awesome job! You’re saying the things I’m doing right now!

Is this a good investing app?? https://share.robinhood.com/sergior411