In this video you’ll learn how you can turn $500 into over $500,000.
What’s the single best investing advice I have to offer? Easy answer.
You just have to START somewhere. But more on that in a minute....
★☆★Resources Mentioned in Video:★☆★
Best Investment Platform Where They Choose Investments for You:
Best Investment Platforms Where you Choose Investments:
Forbes article I wrote on this topic:
Blog post I wrote sharing the best online brokers to choose from:
Okay, back to the story...
There’s not many things that excite me more (with the exception of In-N-Out Burgers 🍔) than seeing a young investor get started for the first time.
The fact that this investor was the ripe age of 16 makes it that much more exciting.
Now you might also be thinking, “I'm not 16 years old, Jeff. I'm about 10 years from retirement.” I feel you.
Instead of giving up, there's so much you can do to better your finances.
I encourage you to invest something – what you reasonably can – toward a better future. Who knows, maybe later today you'll meet your future self thanking you for being smart and investing more for the future.
Here’s what you’ll learn in this new video:
▶︎ What the motivation of a 16 year old can teach us about making money.
▶︎ How I use a database of almost 30,000 different mutual funds that exist to show how easy it is to get started investing by buying mutual funds.
▶︎ How compound interest makes the magic of investing really happen.
▶︎ How the changes in the stock market really don’t impact whether you should or shouldn’t invest.
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That kind of growth is only in penny stocks. And even then this is lucky. This video is complete BS!
Though he did illustrate a good point. If your stocks go down, dont sell, wait longer and eventually they should return on the bull market.
Better yet, wait for the market to hit the lowest point (keep your pre-existing stocks) and buy even more stocks. Then when they return to the high you'll have very profitable stocks
Where is a good place to buy etfs? I've been looking at vanguard, but haven't been able to find if there's a minimum to start investing with them or if I need to contribute a monthly amount or if there are any fees associated with just having money in an account. I have found a place for cds, but I know etfs will be a good thing to have as well.
Does it have to be a mutual fund? Can it be an index fund or an ETF? Mutual funds have all these fee's. If its a 7% yearly return mutual fund you could be left with 4% cause of every % fee taken out. What if I started with $500 and focused on saving and investing $50 a day into it? Or $100? Why stop at $1M and be in a position to earn $10M?
Thanks once again for all ur great content. My Son will be 3years in 2months, and I hv been thinking of open account for him. Where can I set up this account u about? Is through bank or financial advisor?
+Wealth Hacker - Jeff Rose The problem is the date, 1970 was a hot spot for the stocks because so many educated people from Asia were moving which caused more companies to move, playing with the stocks. Appreciate the reply though. I am not saying your wrong that you can grow your money efficiently, but in my opinion that is a bit unrealistic.
Paper trade doesn't work. How can you teach somebody to ride a bicycle sitting in a classroom? If you want to learn something do it, study and do it with the money you can afford to lose, learn from the mistake and do it again,i met vosk coin and with his mining device i make mind blowing profits,he is the best bitcoin miner for now reach him through Email:[email protected] com
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Hey everyone. Question: What is the main roadblock which a 9 to 5 leaver runs into.. when trying to start a side hustle business which would eventually help him to get rid of that dead end job? Can it be, the lack of money, lack of skills, lack of right proven systems, mentors..what could it be?
+Wealth Hacker - Jeff Rose During this summer I studied day trading, for me this seems fitting. I'm not a person that wants to invest money and expect to make hundred of thousands of dollars over a period of at least 40 years.
Loved this video but 😢 I’m tuning 40 next yr I’m trying to turn my financials around any help for me I’ve started acorns but I like what you’ve shown in this video I’m in Australia so I don’t know where to start with investing but would love to start before it’s too late if it isn’t already 😳🤣🤦🏼♀️
a) cannot open an investment account at age 16
b )tracking an initial investment of $500 in 1970 is not the same as $500 in 2017 for multiple reasons:
-Equity prices were dirt cheap for a long stretch of time from the Great Depression until the late 70s since many people were afraid of the market.
Also consider the beginning of the 70s were marked by a bear market and you are measuring the bottoming out of the stock market in the 70s and comparing it with the peak of a bull market.
At the end of the day, you can't time the market, and preceding returns may not reflect future outcomes. You cannot predict when a bull and bear market will happen and for how long it occured. This should just be treated as hypothetical WHAT IF/ What happened if you would have invested $500 at age - 31 years old.
I get that you want to explain the power of compounding interest, but as a financial advisor you can't propose future returns for a client with past data. Returns on mutual funds fluctuate each year, and It's best to use something like fixed rates or the overall S&P 500 returns for a better analysis.
+Wealth Hacker - Jeff Rose technally I didn't considering how you worded everything from begging to end. Your talking about the part in 9:40ish I believe in what you think I missed. Which doesn't excuse the first bit of the video.
Great video! You have a new fan in me, I will try to catch up and see what I can do at 25 with my money. Just one question, is there any resource online for me to use where I could check the performance of several mutual funds?
so the kid started 50 years ago when he was 16 wish makes him now about 66, so apparently you must have been at least 6-8 years older than him for him to demand mentorship from you, so what you're basically saying is that you are a 74-year-old man... alright buddy
when are you going to try and sell me your course/book?
Jeff Rose I already have a custodial account. It opens when I’m 18. You really fucking pressuring a 16 year old to spend his money on things he’s only just started researching and hurling the word “EXCUSES” around because you’re some sort of wannabe life coach. Loser
you didn't show that particular person anything you went look at the data and are using the data to let us know what we can do.. you mentiom at the beginning of the video that you weren't even born when this happened so please..
This 16 year old could have made even more money and faster by building his business. It takes a long while to make good money investing, but building a real business would increase his net worth faster. Just like all the other self help gurus that tell you how to become a millionaire through investing, what they don’t tell you is that they got rich selling books, courses, seminars, workshops, videos, blogs, interviews, etc. put the money to good use rather than sitting in slow investment vehicles. Think Bill Gates or Jeff Bezos. You think they became the world’s richest men by investing? No. Warren Buffet is the exception to the rule. He is the only investor in the world’s richest people list.
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