There are several podcasts that will help you learn more about personal finances. Each podcast features advice and tips from experts in the field to help you reach financial freedom. These experts offer tips on investing, budgeting, taxes, and other important money issues.
Bobbi Hill hosts a podcast about personal finance that teaches financial independence to young adults. The guests share their stories about money and how they plan on growing their wealth. She also interviews professionals and business owners to find out how they manage their money. She also discusses investing and entrepreneurship.
The Australian Investors Podcast is a podcast that features interviews with leading investors. This podcast explores investment philosophies and investment pitfalls. The episodes have featured prominent figures from the financial services sector and authors. They discuss their journeys and what they've learned along the way to success. Guests on the show have included founders of Stockspot Chris Brycki and Strawman Andrew Page.
One of the most popular podcasts in the US is the Dave Ramsey show. This podcast covers a broad range of financial topics like investing, taxes, retirement planning, and debt. Ramsey can also answer caller questions.
Money Girl is another podcast you should listen to. Laura Adams speaks about personal finance, investing, and other topics. In her episodes, she provides a simplified version of complex financial topics, like student loan debt, tracking net worth, and how to invest in stocks. She shares their financial stories with her guests and offers tips and tricks to help them get out of debt, use credit cards correctly, and make money from a side hustle.
Another podcast that focuses on personal finance is FIPhysician. Big Al Clopine, a certified public accountant, joins the show for episodes that cover asset allocation, 1031 exchanges, bonds, and more. He also shares his experience as an early retiree.
You can also visit the Money Nerds Podcast. This show features cutting-edge economic explanations and modern voices. Even entertainment is covered. This podcast is worth your time, whether you're looking for a fun way to improve finances or hearing stories from people who have successfully saved and invested.
Despite its name, The Payback Time is actually a podcast designed to inspire you to get rich by creating recurring income. Listeners asked questions about creating a passive income and how to achieve financial independence. A recent episode featured two millennials who are on their way towards retirement. The show previously covered topics such as real estate investing basics, building solid habits, and economics of poker machines.
Another podcast that tackles the big questions about money is Money Bites. Hosted by a father and daughter, it includes entertainment and tackling big money questions. They've previously discussed renting vacation homes, balancing portfolios and addressing large amounts debt.
Your Money’s Worth is another great podcast for personal finance. The podcast shows listeners how to make the most of their income and save for retirement. Financial advisors, entrepreneurs, among others, are featured guests. The podcast's guests discuss building a portfolio, including other investments. They also discuss choosing a financial planner and how to do this.
FAQ
What investment type has the highest return?
It is not as simple as you think. It all depends on how risky you are willing to take. One example: If you invest $1000 today with a 10% annual yield, then $1100 would come in a year. Instead of investing $100,000 today, and expecting a 20% annual rate (which can be very risky), then you'd have $200,000 by five years.
In general, the greater the return, generally speaking, the higher the risk.
So, it is safer to invest in low risk investments such as bank accounts or CDs.
However, it will probably result in lower returns.
However, high-risk investments may lead to significant gains.
For example, investing all your savings into stocks can potentially result in a 100% gain. But, losing all your savings could result in the stock market plummeting.
Which is better?
It depends on your goals.
You can save money for retirement by putting aside money now if your goal is to retire in 30.
If you want to build wealth over time it may make more sense for you to invest in high risk investments as they can help to you reach your long term goals faster.
Remember: Riskier investments usually mean greater potential rewards.
There is no guarantee that you will achieve those rewards.
How can I reduce my risk?
Risk management refers to being aware of possible losses in investing.
It is possible for a company to go bankrupt, and its stock price could plummet.
Or, a country's economy could collapse, causing the value of its currency to fall.
You run the risk of losing your entire portfolio if stocks are purchased.
Remember that stocks come with greater risk than bonds.
One way to reduce risk is to buy both stocks or bonds.
This will increase your chances of making money with both assets.
Another way to minimize risk is to diversify your investments among several asset classes.
Each class has its unique set of rewards and risks.
Stocks are risky while bonds are safe.
So, if you are interested in building wealth through stocks, you might want to invest in growth companies.
You might consider investing in income-producing securities such as bonds if you want to save for retirement.
How do I know when I'm ready to retire.
First, think about when you'd like to retire.
Do you have a goal age?
Or would you rather enjoy life until you drop?
Once you've decided on a target date, you must figure out how much money you need to live comfortably.
You will then need to calculate how much income is needed to sustain yourself until retirement.
Finally, determine how long you can keep your money afloat.
Statistics
- They charge a small fee for portfolio management, generally around 0.25% of your account balance. (nerdwallet.com)
- Some traders typically risk 2-5% of their capital based on any particular trade. (investopedia.com)
- Over time, the index has returned about 10 percent annually. (bankrate.com)
- As a general rule of thumb, you want to aim to invest a total of 10% to 15% of your income each year for retirement — your employer match counts toward that goal. (nerdwallet.com)
External Links
How To
How to invest stock
Investing can be one of the best ways to make some extra money. It's also one of the most efficient ways to generate passive income. There are many options available if you have the capital to start investing. There are many opportunities available. All you have to do is look where the best places to start looking and then follow those directions. The following article will show you how to start investing in the stock market.
Stocks can be described as shares in the ownership of companies. There are two types. Common stocks and preferred stocks. Common stocks are traded publicly, while preferred stocks are privately held. Shares of public companies trade on the stock exchange. They are priced on the basis of current earnings, assets, future prospects and other factors. Stock investors buy stocks to make profits. This is called speculation.
There are three main steps involved in buying stocks. First, you must decide whether to invest in individual stocks or mutual fund shares. The second step is to choose the right type of investment vehicle. Third, you should decide how much money is needed.
Decide whether you want to buy individual stocks, or mutual funds
It may be more beneficial to invest in mutual funds when you're just starting out. These mutual funds are professionally managed portfolios that include several stocks. When choosing mutual funds, consider the amount of risk you are willing to take when investing your money. Some mutual funds carry greater risks than others. If you are new to investments, you might want to keep your money in low-risk funds until you become familiar with the markets.
If you prefer to invest individually, you must research the companies you plan to invest in before making any purchases. Before you purchase any stock, make sure that the price has not increased in recent times. Do not buy stock at lower prices only to see its price rise.
Select Your Investment Vehicle
After you have decided on whether you want to invest in individual stocks or mutual funds you will need to choose an investment vehicle. An investment vehicle is just another way to manage your money. You could, for example, put your money in a bank account to earn monthly interest. You could also open a brokerage account to sell individual stocks.
You can also establish a self directed IRA (Individual Retirement Account), which allows for direct stock investment. Self-directed IRAs can be set up in the same way as 401(k), but you can limit how much money you contribute.
Your needs will determine the type of investment vehicle you choose. Are you looking to diversify, or are you more focused on a few stocks? Are you looking for stability or growth? How familiar are you with managing your personal finances?
The IRS requires that all investors have access to information about their accounts. To learn more about this requirement, visit www.irs.gov/investor/pubs/instructionsforindividualinvestors/index.html#id235800.
You should decide how much money to invest
You will first need to decide how much of your income you want for investments. You can save as little as 5% or as much of your total income as you like. You can choose the amount that you set aside based on your goals.
It may not be a good idea to put too much money into investments if your goal is to save enough for retirement. You might want to invest 50 percent of your income if you are planning to retire within five year.
Remember that how much you invest can affect your returns. Consider your long-term financial plan before you decide what percentage of your income should be invested in investments.