Help for a newbie? (General market information)

[whatdrought]

So, as background- I’m in my mid-20’s, and was raised in a family that never had the resources nor desire to invest or plan for the future.

 

That being said, I’m now getting to a point where I want to begin seeing how I can (or cannot) use the markets to set up my family for success. I have the basic retirement package from work, but I find myself in a good place to play around a bit since the gov. keeps dumping money in my lap and I don’t want to go with a basic savings account if I can find something more beneficial. All that to say, I am looking for resources to help me gain a fundamental understanding on how and why the markets work, what the moving parts are, and how we “average joes” can use the markets.

 

Essentially I need a baseline of knowledge that can help point me in the direction of what to research more before I dive in. Make sense?

 

Books, podcasts, YouTube channels, etc. that you have found helpful at giving you an overview of all things finance- anything you got!

[Ann]

Plant Your Money Tree: A Guide to Growing Your Wealth Illustrated Edition

 

Stay away from trading, do long term investing ( at least until you really know what you are doing). 
 

On stockcharts.com YouTube channel  look for Carl Swenlin & Erin Swenlin    (there are a number of contributors) 

[mead107]

14 hours ago, whatdrought said:

So, as background- I’m in my mid-20’s, and was raised in a family that never had the resources nor desire to invest or plan for the future.

 

That being said, I’m now getting to a point where I want to begin seeing how I can (or cannot) use the markets to set up my family for success. I have the basic retirement package from work, but I find myself in a good place to play around a bit since the gov. keeps dumping money in my lap and I don’t want to go with a basic savings account if I can find something more beneficial. All that to say, I am looking for resources to help me gain a fundamental understanding on how and why the markets work, what the moving parts are, and how we “average joes” can use the markets.

 

Essentially I need a baseline of knowledge that can help point me in the direction of what to research more before I dive in. Make sense?

 

Books, podcasts, YouTube channels, etc. that you have found helpful at giving you an overview of all things finance- anything you got!

Have a great financial guy I know.  


 

[plenzmd1]

On 3/27/2021 at 7:33 PM, whatdrought said:

So, as background- I’m in my mid-20’s, and was raised in a family that never had the resources nor desire to invest or plan for the future.

 

That being said, I’m now getting to a point where I want to begin seeing how I can (or cannot) use the markets to set up my family for success. I have the basic retirement package from work, but I find myself in a good place to play around a bit since the gov. keeps dumping money in my lap and I don’t want to go with a basic savings account if I can find something more beneficial. All that to say, I am looking for resources to help me gain a fundamental understanding on how and why the markets work, what the moving parts are, and how we “average joes” can use the markets.

 

Essentially I need a baseline of knowledge that can help point me in the direction of what to research more before I dive in. Make sense?

 

Books, podcasts, YouTube channels, etc. that you have found helpful at giving you an overview of all things finance- anything you got!

purely as a stock picking education, watch/record. Squawk on the Street from 9-10 am and Mad Money from 6-7 PM on CNBC with Jim Cramer. On Mad Money, i really only watch the monologue he starts the show with..the CEO interviews are just commercials, the lightning stuff i think is dumb. But you can learn a lot about stocks and the stock market watching him in the AM and that 10 minutes at 6.

 

 

 

The most universal advice one can give however, and i dont think anyone would disagree...is max out your 401K if offered by your employer. If matched, even better..but even with no match its the best investment vehicle out there. I have not always made wise choices with my money, but have always maxed 401K, never touched it for a loans etc..wife did same...late 50's i now see why it was so important.

Edited April 20, 2021 by plenzmd1

[GG1]

3 hours ago, plenzmd1 said:

purely as a stock picking education, watch/record. Squawk on the Street from 9-10 am and Mad Money from 6-7 PM on CNBC with Jim Cramer. On Mad Money, i really only watch the monologue he starts the show with..the CEO interviews are just commercials, the lightning stuff i think is dumb. But you can learn a lot about stocks and the stock market watching him in the AM and that 10 minutes at 6.

 

 

 

The most universal advice one can give however, and i dont think anyone would disagree...is match out your 401K if offered by your employer. If matched, even better..but even with no match its the best investment vehicle out there. I have not always made wise choices with my money, but have always maxed 401K, never touched it for a loans etc..wife did same...late 50's i now see why it was so important.

 

Do not watch these shows for advice!  Watch them to see what the talking heads are highlighting and that will be part of the education.

 

To clarify above, I think you meant to write "Max out your 401k" contribution.   That's the best advice a youngster should heed.  It won't take you too long to adjust to the paycheck once the maximum 401k deduction is in place.

[plenzmd1]

1 hour ago, GG1 said:

 

Do not watch these shows for advice!  Watch them to see what the talking heads are highlighting and that will be part of the education.

 

To clarify above, I think you meant to write "Max out your 401k" contribution.   That's the best advice a youngster should heed.  It won't take you too long to adjust to the paycheck once the maximum 401k deduction is in place.

well put on the shows. I think for folks just getting into the market, Cramer does an excellent job of educating on what are the current market drivers, long term trends, possible bubbles etc. He designs his show so that everyone can learn and enjoy, from people just new to the market like @whatdrought, to very "veteran"(thats what they call us old people now) stock investors. And again, its only stocks..just a piece of what should be a financial plan.

 

And yes, MAX out 401K

[Ann]

@whatdrought hubby and I listened to this book while we were driving on our look-for-a-new-state-to-live-in  adventure. It is a good beginner book. Neither one of us agreed with everything written, but it was a good place to start.

Dividend Growth Investing: Get a Steady 8% Per Year Even in a Zero Interest Rate World - Featuring The 13 Best High Yield Stocks, REITs, MLPs and CEFs For Retirement Income