A Beginner’s Guide to Investing in 2024

A Beginner’s Guide to Investing in 2024

We've got a lot of new audience members that are just starting out with their money. We've also got a lot of you with kids, friends, spouses, or family members that you are wanting to help! We hope this will be a great resource for anyone new to personal finance. We’re going to break down the basics of investing, how to pick funds, what the different account names mean, and a step-by-step on how to actually open the accounts.

Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life.

[Joegolberg]

If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.

[theprocrastinvestor]

When I was younger, I thought investing was just for rich people.

[katelynrenesse]

Invest early, invest often, stay invested.

[cloudyblaze]

It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest now, but I don't really know which way to go. These videos are helping, no doubt.

[alexk]

I already had a roth ira, a 401k, and invested in the stock market when I found you guys. I have been a follower of you guys for a while. I really like these "beginner's guide" videos to remind me to keep investing

[Riverbend]

Perfect timing on this episode! Unless I have an emergency pop up between now and the end of the month, I should finish funding my emergency fund this month and be ready to invest beyond just getting the employer match next month.

For context, I'm 23, about 8 months into a job after graduating university debt-free, and my only current debt is to my parents for about $2k interest-free from some moving expenses they helped me cover.

I'm so glad I discovered The Ramsey Show and then this show back in high school. I learned a lot from them in that time that has given me a massive leg up.

Update: I opened a Roth IRA with one of the big three (not saying which one for obvious security reasons). Between that and my Roth 401(k), I have a 25% savings rate. But my income is so high and my cost of living is so low that I make more money than I know what to do with. Naturally, some of that "extra" money is going to even more savings, and some of it is going to lifestyle.

[melinda]

Thanks guys!! Just opened a spousal Roth last year . Our tax guy says just put it in a regular Ira and convert it as a back door Roth due to the income limits we may hit in the future!!
Never to old to start !!! I’m opening custodial accounts for our grandkids ! Love all your content!!!!

[qwelve]

Would love to see investing advice for brokerage accounts, specifically for funding large purchases (greater than 5 years out) and optimal withdrawal strategies (lump sum or dollar cost), thanks!

[clbcl]

New to the channel. I rolled my ira over to a roth and did not pay the tax 2 months ago. In our other IRA's and brokerage acct, we bought an s/p index fund. In the last 2 months the index fund made enough to pay the tax on the roth by 1 .5X. If we did it 5 months ago we would have had 3x more.

[Gigi-upyi]

You guys are AWESOME! 👏 Thanks so much for the video! I seriously appreciate you guys! You guys are literally one of the most helpful finance YouTubers I follow, hands down 🙌 THANK YOU so much! 🙏

[bradfancher]

EXCELLENT EPISODE! THANK YOU! THANK YOU! THANK YOU!

[ericaj]

This is a great video, this one got me really fired up and I went into my retirement accounts right away to evaluate what I can update and increase to hit my goals!

[arh]

Great episode! I love the detailed process at the end on how to open/fund/allocate a Roth IRA - critical info that is very infrequently covered

[BruceSellers]

Great video! I really do have a quick question. For someone with less than $10, 000 to invest, How would you recommend we enter the market? I am looking study some traders and copy their strategy rather than investing myself and losing money emotionally. Whats your take on this approach?

[Astronoversol]

you´re my inspiration, greetings from brasil

[drevan]

Just opened a Traditional IRA a minute ago, can't do my Roth any longer which is sad, but also good.

[bibwitheart]

Thanks for all the valuable information. I’m still skittish when it comes to investing, but I’m compromising for the time being by utilizing high yield savings accounts/CDs and investing half the interest while I figure things out.

[BitsOfInterest]

It took 4 years to have 1x income invested (25% savings rate), but it looks like I'll get to 2x two years after that and it's getting shorter to add each multiple, eventually adding 1x income per year closer to retirement.

[BigBenjamminShlammin]

I’ve been watching you guys for months now and I love your content. I am a mailman in Pittsburgh PA. Since I am a federal employee I have a TSP account in lieu of a 401(k). Would it be possible to go over some of the differences between the two?

[rangequeen]

Bless The Money Guy Team! You are helping so many ❤