Financial Advisor Magazine's 10 Young Advisors to Watch , InvestmentNews 40 Under 40, and founder of Build a Better Financial Future, LLC. Helping Gen Xers on their way to wealth.
Financial planners say automating your savings is the best way to build long-term wealth. Here's how to do it.
Jae C. Hong/Pool/Getty Images Business Insider asked financial planners how to start investing and nearly everyone said index funds . Legendary investor Warren Buffett is a big fan of the index fund , once calling it "the most sensible equity investment." Index funds are a type of passive investment that exposes investors to a broad selection of stocks in order to diversify and ultimately minimize risk. They're low-cost and regularly outperform actively managed funds. Index funds are a good option for people looking for a "set and forget" investment. Getting started investing can be scary. All investments bear some level of risk, but according to financial planners, you can't go wrong with index funds. "For someone that is just beginning, I recommend using index funds," Luis Rosa, a CFP who founded the financial-planning firm Build a Better Financial Future , told Business Insider. "They're cost-effective and you can be in the market without being an expert." " I always am going to...
Meet the experts reviewing Personal Finance Insider's tax coverage to ensure you get the most helpful and accurate information.
I don't try to time the market, I don't follow the latest hot stock or fad, just save and invest systematically every month or out of every paycheck consistently.
If it's a retirement goal, you can buy a target date fund which invests more aggressively at the beginning and it gets more conservative as you get closer to retirement age.