Ceramic Mug and Plates: Franca
One of my main goals for 2021 is to learn how to invest. In the last two years, I learned a little bit, but it’s really not enough. I’ve decided to make it a priority to stop letting the topic intimidate me.
Lets rewind a little bit.
Last year, I started using the Acorns app after a friend recommended it. Every week, I would have $50-$100 withdrawn out of my bank account (the amount varied) and deposited into my Acorns account. Month after month, naturally, the amount started to accumulate. After a full year, I accumulated a decent chunk, but what shocked me the most was that I made a couple of thousand dollars in interest alone.
Now, I realize that to many of you, it’s a: “um… obviously, Helena. That’s what investing is…” However, based on all of the messages that I received, I realized that many of you, like myself, are a bit intimidated by the entire subject.
In the last year, I’ve already learned some key things about investing:
- It’s one of the main ways to make your money work for you.
- Any amount is better than nothing. Whatever you can swing, have a weekly deduction set up.
- It allows you to grow your wealth.
- It generates an additional income stream if needed before retirement.
- Compounding! If you don’t know what compounding is (no shame), I suggest you read the first few paragraphs of this great article. Basically, the interest that I’ve mentioned above starts growing and overtime, interest is accumulating on top of interest! That is major.
Now, this isn’t a post to plug the Acorns app. That’s just one example, but there are many out there. Some work with a Financial Advisor (which I also started to) or with a bank. However, in the book that I’m currently reading, it is mentioned (over and over again) the importance of educating yourself on the topic. This way you’re not necessarily at the mercy of an Advisor and their fees. Like interest, that starts to accumulate to a lot of money overtime.
So, here we are. In a focused goal to really educate myself, I turned to my wonderful community on Instagram stories. I asked you all on what books, podcasts or accounts that you’ve found helped to start to understand this topic better. In turn, I hope this post is able to help some of you!
BOOKS:
ElleVest: A Financial Company, For Women By Women
The Warren Buffet Way: Investment Strategies of the World’s Greatest Investor
The Psychology of Money: Timeless Lessons on Wealth, Greed and Happiness
Unshakeable: Your Financial Freedom Playbook
The Intelligent Investor: The Definitive Book on Value Investing
Kiplinger Personal Finance Magazine
YOUTUBE CHANNELS:
PODCASTS:
Bloomberg’s Masters In Business
Bloomberg Opinion columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business.
Hosted by Emilie Bellet, founder of Vestpod – a digital platform and thriving community that financially empowers women.
Hosted by Glamour Editor-in-Chief Samantha Barry; shares intimate, unscripted stories from women across the country along with advice from financial experts to help guide these women—and women everywhere—forward.
A series asking women to share their salary, their take home pay, and their monthly expenses – which always brings up more questions than answers: Why is she putting so much into retirement? Why can’t she afford a vacation? Why do commenters hate it when diarists let boyfriends pay for the check? In this podcast, the goal is to answer those questions.
ACCOUNTS TO FOLLOW:
A financial company built by women, for women.
NYC Money Expert Becca, sharing personal finance & great deals.
Founded by Haley Sacks, a self-proclaimed financial pop star.
Writer, Speaker + Investing Expert Amanda Holden, teaching women to build wealth.
Millennial Money with Katie, covering spending habits, travel hacking, and simple investing.
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