Investing means allocating some of your money with the expectation to gain a return
Builds wealth over time – a great addition to savings
Regular investing will yield a higher return over time
Asset Classes Vs. Investment Vehicles
Diversify Your Portfolio
General Rule of Thumb: allocate portfolio to stocks (equities) vs. bonds (fixed income)
Equity Allocation = 100 – Age
Fixed Income Allocation = Age
Diversify your portfolio by including securities from multiple industries. As a result you risk less and in case one sector fails you are secure in other industries.
A CD is a type of savings vehicle but follows the general concept of investing a specific amount of $ for an allotted amount of time and it yields a higher return through high-interest rates. Check out the Georgetown University Alumni and Student Federal Credit Union for an opportunity to open a CD here!
A broker is a person or firm who arranges transactions between you the buyer and a seller (selling different types of investment vehicles) and gains a commission when a deal is made. You can find low-coast brokers such as Fidelity Investments and Charles Schwab. These sites additionally provide education tools and are user friendly. They are recommended starting points for college students.
Setting up a Robinhood Account is a free start for some looking towards purchasing stocks and ETF’s.
A NerdWallet review states, “Robinhood provides free stock, options, ETF and cryptocurrency trades, and its account minimum is $0, too. Mutual funds and bonds aren’t offered, and only taxable investment accounts are available. “
An IRA allows you to defer taxes on any profits or dividends, and deduct your contributions from your taxable income, saving you money on taxes. Plus, the earlier you start investing in a tax-advantaged account, the longer you can use the power of compounding to max out your account. For more information read this article. *Cited BankRate
Other Resources
Build A GamePlan Investing: A group of student-athletes has come together to demystify investing for college students and low-income individuals. Check out their Linktree to join their stock investing community discord, download a budgeting sheet, and the best part? Demo their Investing Guide and support by leaving a rating, referring a friend, and ultimately purchasing the actual guide afterward! Follow them on Instagram @bag_investing