What Should Your First Stock Investment Be | Step By Step

However, what would I have investment my money into back them, knowing everything I know today. And basically, being someone who lives off his investments In the stock market.

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1. Compound interest is the Key
– Early on my mission was simple
– Invest and make a lot of money in a short amount of time
– So my plan was, but companies that are hot and selling for a little, and then hope they are the next apple
– Or buy a company that had a high price and now has a low price and hope it goes back to normal

Truth is:
– I’m better off just buying an investment that will consistently give me a good return for a long time
– That let that money compound

Example:
– If I have $10,000 and invest it and get paid 10% a year ( at age 20)
– And never invest another dollar again
– In 40 years I would have $452k
– That’s 45 times more than I put in, that’s just one example

2. Consistent investment instead of big investments
– Another mistake I made was, I would try to save a lot of money and then buy all at ones
– And also wait until the market went down to then invest a lot more money

Truth
– One I can’t time the market, and two buying consistently helped me keep investing ( since saving money would always end with me spending a part of it on something)
Example:
– I invest $200 extra dollar each month for 40 years, who ends up with money
– Me or the guy who put in 10k and never invested again
– Simple math, 40 years is about 480 months, and If you invest 200, 480 times, that would be 96k
– That’s 1.1Million ( more than double )
Ps. I would put this in a roth ira, it would save me a lot money

3. Lets look at the numbers today if I had just done that
– So I had 10,000
– I would have invested it into the S&P 500 in 2016

IN 2016
– The share price of VOO ETF was about $176 bucks
– My 10k would have bought me about 56 shares
– Today those 56 shares would be worth 28k
– In about 8 years, meaning I almost tripled my money

So if I could go back:
– I would just do that

If you made it
– I have $40k in my Roth ira
– If I sit for the next 30 years and do nothing
– In 30 years I’ll have almost 700k of tax-free money

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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