SOCIAL MEDIA QUESTION: You have $100,000 and you can invest in ONE publicly traded company. What company do you choose and why?
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SOCIAL MEDIA QUESTION: You have $100,000 and you can invest in ONE publicly traded company. What company do you choose and why?
Before we reveal our ‘What would you do” answer please understand that investing in single stocks is NOT what we coach. Single stock investing no matter how sure you are is a terrible idea. We go by the simple order of investing rule of maxing our your Roth 401(k), Roth IRA, and then you can move onto other investments such as HSA, stocks, real estate and more.
As an additional rule we also coach using the Baby Steps meaning you don’t do any investing until we are out of debt not including your mortgage. The Baby Steps are in order:
Baby Step 1 – $1,000 to start an Emergency Fund.
Baby Step 2 – Pay off all debt using the Debt Snowball.
Baby Step 3 – 3 to 6 months of expenses in savings.
Baby Step 4 – Invest 15% of household income into Roth 401(k) and IRA
Baby Step 5 – College funding for children.
Baby Step 6 – Pay off home early
Baby Step 7 – Build wealth and give back generously
Want to learn more? Watch us, chat, and comment as we record our podcasts. We answer listener/ viewer questions as we talk about your 401K, IRA, Baby Steps, and our recent release of the Rock on the Money podcast @ https://rockonthemoney.com
ABOUT THE HOSTS and SHOW:
Craig is a certified Dave Ramsey Master Financial Coach along with Amanda who works as a corporate in house lawyer and real estate agent. Each week they combine to produce 5 podcasts all about saving, investing, and protecting your hard-earned money.
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