What Should Your First Stock Investment Be | Step By Step

However, what would I have investment my money into back them, knowing everything I know today. And basically, being someone who lives off his investments In the stock market. 💲Patreon Exclusive💲 https://www.patreon.com/tommybryson 😎Call Me😎: https://bit.ly/30IBr0i 😎Second Channel😎: https://bit.ly/3c4sVPS 👨🏽‍💻Financial Freedom Course👨🏽‍💻$100 OFF CODE: LONGTERM Link: https://longtermteam.teachable.com/p/financial-freedom-steps-from-nothing-to-freedom 1. Compound interest is the Key - Early on my mission was simple - Invest and make a lot of money in a short amount of time - So my plan was, but companies that are hot and selling for a little, and then hope they are the next apple - Or buy a company that had a high price and now has a low price and hope it goes back to normal Truth is: - I’m better off just buying an investment that will consistently give me a good return for a long time - That let that money compound Example: - If I have $10,000 and invest it and get paid 10% a year ( at age 20) - And never invest another dollar again - In 40 years I would have $452k - That’s 45 times more than I put in, that’s just one example 2. Consistent investment instead of big investments - Another mistake I made was, I would try to save a lot of money and then buy all at ones - And also wait until the market went down to then invest a lot more money Truth - One I can't time the market, and two buying consistently helped me keep investing ( since saving money would always end with me spending a part of it on something) Example: - I invest $200 extra dollar each month for 40 years, who ends up with money - Me or the guy who put in 10k and never invested again - Simple math, 40 years is about 480 months, and If you invest 200, 480 times, that would be 96k - That’s 1.1Million ( more than double ) Ps. I would put this in a roth ira, it would save me a lot money 3. Lets look at the numbers today if I had just done that - So I had 10,000 - I would have invested it into the S&P 500 in 2016 IN 2016 - The share price of VOO ETF was about $176 bucks - My 10k would have bought me about 56 shares - Today those 56 shares would be worth 28k - In about 8 years, meaning I almost tripled my money So if I could go back: - I would just do that If you made it - I have $40k in my Roth ira - If I sit for the next 30 years and do nothing - In 30 years I’ll have almost 700k of tax-free money * PRO TIP* INFORMATION IS EVERYTHING 💲Patreon Exclusive💲 https://www.patreon.com/tommybryson 👕Merch👕 https://teespring.com/stores/tommybryson ✅2 FREE AUDIOBOOKS✅ https://amzn.to/2Enayo8¬¬¬ 🎁ACORN FREE $5🎁 Link: https://acorns.com/invite/38EYSU ⚡FREE KINDLE UNLIMITED⚡ (traditional reading) Link: https://amzn.to/2VGbxt9 👨🏽‍💻DISCORD PRIVATE GROUP👨🏽‍💻 https://discord.gg/EcZEHpA My Camera Gear: https://www.amazon.com/shop/tommybryson ✔ Help Us Reach 600,000 Subscribers: https://goo.gl/0wvm6w 😎All My Social Media😎 Link: https://linktr.ee/tommybryson --- Disclosure & Educational Disclaimer: Some links in this video may be affiliate links, and I may earn a commission. Content is educational and accurate as of posting; offers may change. I’m an accountant but not your accountant; always consult your own accountant/CPA or financial advisor. No income or results are guaranteed.