As a 20-year-old, if you put $3.47 a day into a low-cost index fund and leave it alone to grow until you are 65, you could reach millionaire status.
InTrack Portfolio Manager Tyler J. Gardner argues that if you can afford daily lattes, you make enough money to invest. It's a common misconception that investing is only for the wealthy. Tyler points out that many people are simply unaware of how little you have to contribute when you're younger to see phenomenal returns when you're older. In this episode of The Optimistic Investor, we dispel even more myths. For example, you're not too young to start investing. In fact, the earlier you start, the better, thanks to compound interest. You also don't have to be a genius. Although many of us are not taught investing in school or at home, there are a lot of resources available these days. However, Tyler warns us to be careful when it comes to trusting information online. Production Manager and "Resident Millennial" Clara Moses even hops on to discuss her experiences with investing and what she's learned about how to spot a scam. Bottom line: investing isn't an all or nothing game.
Give this episode a listen and think about where you could start your investing journey if you haven't yet. From there, if you have any questions, please contact InTrack. The team is happy to help, no matter what age you are!