How To Start An Investment Plan For 2024 | Beginners

So 2024 is literally right around the corner, we have days left for the new year to actually start. So I’m making this video, for the folks that want to use 2024 for investing; so in this video, I’ll share with you guys a simple guide to investing.

I’ll tell you what I’ll be investing into, the brokerage I use, and how I plan to start taking money out of my investments.

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1. First of all
- I have some basic requirements before you start considering investing
- These requirements may seem tedious but they are the truth and they will increase your potential for success

First: Be debt free Expect the mortgage
Second: have a fully funded emergency account for a minimum of at least 3 months and as high as 12 months usually should be enough

2. What broker and why
- You don’t want the most popular broker or the one you see in every ad
- You want the biggest one, that’s been around for a long time and has an amazing reputation
- You want to forget about the gimmicks and focus on the important stuff

Here is the broker I use and I recommend:
- I use Vanguard, they basically invented the index fund
- They are known for having very low fees, and amazing customer service
- They have been around for over 100 years and it is literally one of the biggest brokers in America

Tip: I want to invest with a broker that’s so big and so well known and with good reputation, that if they go down, it's such a crazy idea

3. What investment and why
- I used to invest in a lot of things
- Individual stocks at first
- Then a bunch of different index fund
- And now I must into 1 single index fund and that’s it

What is that investment?
- I have 100% of all my investing money into the S&P 500
- That includes into normal taxablr portfolios and also into retirement accounts
- I have 401k and a roth 401k and I only invest into the s&p with them too

Why that only investment ( 6 reasons )
- Historic return: its made a good return of little over 10% and has outperformed bonds
- Compared to other investments: less risky, less work, and good return
- Risk of default: I lose all money if America burns and if we burn most likely everyone else burns too
- Personal bias ( US is our country ) where are you moer likely to keep your money invested, in a country know or a country you don’t
- Fees: index funds are super low relative to mutual funds and trading stocks, and even lower when you only have one to invest into
- Evidence: read a book called “A Walk Down Wallstreet” and listen to Warren Buffet recommendations to regular investors

4. When to take out money, how much and why
- Investors use the 4% rule for investing
- It basically means you take 4% of the amount of money inside your portfolio
The reason is that this way you’re portfolio can continue to grow and you don’t have to worry as much about running out of money

5. Year of 2024 plan
- Maintain, if possible, an investment rate of 20% of my income
- In this case that would be towards my savings account not stocks
- I’ve made enough in stocks and my main worry now is cash flow in case of lost of income

So basically:
- Stocks pay me enough to cover my expenses
- Now I want real estate to do the same
- To that I need to roughly invest 240k ( about 4 properties )
- If everything goes well, it should take me about 7-10 years to accomplish ( I’ll be in my late 30s almost )

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I'm an Accountant but I'm not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

[divyagulati]

I agree that AI stocks will dominate 2024. Why I prefer NVIDIA is that they are better placed to maintain long term growth potential, and provide a platform for other AI companies. I know someone who has made more than 200% from NVIDIA last year.

[rickcooper]

Im 56 years old and I sure wish I'd met you when I was in my late Teens!
Still, better late than never...

Thank you for sharing your wisdom with us. I really love your content!

[KailinruAdao]

I'm hoping to retire next year at 55. My goal next year is to be more serious and consistent with my investments I’ve been investing since I was 22. 2024 is going to be more serous for me investing consistently for the long term. starting to save for a house down payment. I want to invest more than $105k, but I'm not sure on how to mitigate risk

[ABlackHound]

Yes please make a separate video on how to become debt free and making an emergency funding account. I just started watching. I’m 22 right now but I’m trying to take in all the information from you and other sources and utilize them the correct way. Thank you.

[Justinfred]

As always, a great analysis. Newcomers often wonder if it's too late to navigate the financial market, but the market is always unpredictable. Trading has more advantages than simply holding, so it's important to learn before diving in. Active trades are necessary to ride the market's waves. Thanks to Walter James Henry’s insights, daily trade signals, and my dedication to learning, I've been increasing my daily earnings. Kudos to the journey ahead!>>

[dominicleong]

Whenever I see videos speaking about money. I always wish people knew what I knew about money and how it’s not so difficult to hit your financial target if you know the right steps to take. Honestly, I see Not making upto a million before retirement as an unfulfilled retirement. I’m 54 and my wife is 50 . We are both retired with over $3million in net worth and no debts. Currently living smart and frugal with our money. No longer putting blames on the FED for our misfortunes. Saving and investing lifestyle in the stock market made it possible for us this early. Even till now, we earn weekly.

[dnah]

I started by setting my budget, made sure to rent somewhere that would allow me to save and invest. Then I have some ETFs I like and I buy them every month.

[Alan-sbhm]

Tommy I would luv for you make a video on those subjects combined 13:46 I too would be grateful looking forward toit thanks again for the insightful information...👍

[Loso]

Thank you for this video, great information and great perspective on investment

[Quicknews-kq]

This popped up just as I’m watching the stock report on the news. It’s a sign lol

[khalidh]

Do you plan on saving up for those rentals and paying it in cash? That’s my longterm goal

[MayaDTV]

I will be debt free in a couple months but that does not include student loan debt because I’m waiting to get that taken off through the type of job I have and I will have three months of my bills in the bank 🙏🏾

[JoJoAgainn]

I have no idea what to do I keep hearing different things. But I was looking to find instructions on where to place money for it to grow in order pay off student loans, to invest in real estate and later down the line buy a house and car. I keep hearing about CD’s, boa’s, hysa, money markets and do not have any clue how to comprehend these terms

[steevegeneste]

I have edited several of your long YouTube videos into shorts. I added subtitles, inserts, emojis, etc... I have sent you in example in DM

[rossmortenson]

Make a video of debt fee and emergency fund

[denymtz]

what amount would you recommend investing into the VOO ETF that you showed in the video?

[ruaptla]

Do you think T-Bonds are a good investment?

[jamichealgates]

I want to build a plan now. Cause this is something I'm in trying to do. Is buy real estate and again the money so I can buy more. But I never could figure out a way to do it. So stock okay I need to figure Is a plan

[brainchilddesigner]

Anyone else hear the hydtolic sound, multiple times in this video?
It may be that my headphones pickup small nuances?

[grant]

how did you get that big scar on your forehead?