Things That Matter

Here’s How You Can Start Investing Even If You Don’t Know Where To Start

The other day I was talking with a client and she told me “Brittney, I finally feel like I understand investing because you explain it as if we are just two girlfriends talking over lunch. You make it so easy to learn and I feel like I finally know what I’m investing my money in!”

I’ve been a financial planner for over 13 years and one of the biggest reasons I started my own financial company was to help smart, savvy women understand money and finally feel like they could come to a financial planner without feeling judged, talked down to or ashamed for not knowing personal finance and investing principles. 

I know how overwhelming investing can be, but the truth is once you dive into this new subject, you will find it isn’t as scary after all and a few smart investment strategies can go a long way in your overall financial plan and success.

Regardless of where you stand in your investing career, just starting out or a seasoned investor, here are three tips to get started in investing. 

1. Understand Compounding Interest

To me, this is like the 8th wonder of the world as it really does work like magic when it comes to growing your money for the long term. The simple way to understand the power of compounding interest is by the rule of 72.  Basically, the rule of 72 tells us how many years it will take to double your money given a specific interest rate.

For example, let’s say you have $5,000 that you can invest in a lump sum today into an investment that returns on average 4% per year. By using this rule, 72 divided by 4 is 18, so every 18 years your $5,000 will double.  

$5,000 today, 18 years from now $10,000, another 18 years from then, $20,000 and so forth.  

What if you took that same original $5,000 investment and instead got an average annual return of 8%?  Now your money will double every 9 years.  

So after the same 36 years instead of $20,000 from the 4% investment, you can potentially have $80,000.  That is how compounding interest will help you build wealth over time. It helps your money make money which of course is a very wise financial move.

2. Diversify

Don’t put all your eggs in one basket. I know this sounds easy, but yet so many people still don’t understand the importance of having a diversified portfolio. Basically, it means to have a little bit of everything in your portfolio. So a mix of different types of mutual funds whether they are stock mutual funds or bond mutual funds, real estate and possibly business equity in your overall investment portfolio.  

Think of it like a pie, if one slice of the pie is eaten and no longer has value then it’s okay because you still have the rest of the pie remaining. Diversification helps minimize your risk over time as you never have all your eggs in one basket, i.e. one investment category, one company, etc.  

I know investing can be confusing, so start by reading and learning more about the differences between a stock, bond, mutual fund, real estate.  This will help you have a better understanding of what is most appropriate to hold within your own investment portfolio. 

Remember everyone is different so your mix of investments may be different from your neighbors and that is okay as you may have different goals, timeframe, risk tolerance, etc.  Find the mix that is right for you and keep that diversification going!

3. Focus On The Longterm And Keep Emotions Separate

One of my favorite investing quotes is from the successful investor Warren Buffett who says, “be greedy when everyone else is fearful and fearful when everyone else is greedy.”  

Basically what this means, is you have to be clear-headed when it comes to your longterm investment strategy and not let your emotions get the best of you when the stock market fluctuates up and down. Most people react to the swings in the stock market and panic when Chicken Little on TV is telling them the sky is falling so they make irrational decisions regarding their investment portfolio. 

If you can remember Warren’s quote, then during those times of stock market dips, if you were in control of your emotions, you might be able to see that there are investment opportunities to take advantage of, for example buying more of a position if you found it a value in the market, versus being fearful and panicking and perhaps selling at a loss like most people end up doing. 

Again, investing is complex and what I am saying may not apply to everyone so please do your homework and work with a financial professional you trust to help you build the right investment game plan so you can stay the course for the long-term.

Learn more from Brittney about investing here:

This Latina Making Six Figures A Month On Youtube By Making Goo Is Basically The New American Dream

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This Latina Making Six Figures A Month On Youtube By Making Goo Is Basically The New American Dream

Twenty-five-year-old Karina Garcia has a life that can be seen quite literally as a rags-to-riches story. The Riverside, California native is known on Youtube as the ‘Slime Queen’ and makes when things are going really well an average of two hundred thousand dollars. Once making a living off of tips as a waitress, the Latina now serves 9 million subscribers on her Youtube channel some pretty gooey content, or rather, videos of her producing slime

Garcia started her empire based on an interest she had in goo as a young child.

@karinagarc1a / Instagram

Speaking with ABC news about her life before her lucrative business, the Latina said she grew up in a family of eight in a two-bedroom mobile home. Four years before her fame, she was on a break from college and working as a waitress. “I wasn’t in school. … I had like nothing going for myself,” she told ABC. “I remember thinking, like, ‘What am I gonna do with my life?'”

In an interview with Delish, Garcia says she played with slime as a kid and decided to make some of her own but when she couldn’t find recipes to make some, she started doing her own experimenting and research. When Garcia saw that things were going well for her sister Mayra Isabel Garcia’s own beauty tutorial channel, she decided to give creating one a go too. But hers would be built entirely on slime.

“I used to get a lot of hate for it in the beginning,” Garcia told Delish. “I’d make slime once a week, and people were like, ‘What are you doing? You’re so weird.’ Now, people get it. It’s this sensory thing that’s fun to look at and stress-relieving to play with.”

On YouTube, where tutorials are a dime a dozen, Garcia’s videos grab millions of views.

Garcia most popular video so far sees her create a massive tub of slime in her video “100 Pounds of Slime!”

To date, the video has over 26 million views.

From fluffy slim to glitter slime, the Latina’s youtube channel sets out to experiment with creating all kinds of slime forms.

She’s even put Hot Cheetos in Slime!

Spoiler alert: it’s not edible but it does smell good!

But she’s not just a Youtuber. She’s a businesswoman too.

@karinagarc1a / Instagram

Garcia, who has contributed to getting her parents retired, with more than just the channel. She’s also partnered up with Target to create slime kits with her Crafy City line and has had deals with big brands like Coca-Cola. Today, the Latina has been able to afford to buy her own home, a bedroom of six rooms. She truly does live in a house that slime built.

The Peso Plummets After Mexico’s Finance Minister Quits And Calls Out Corruption In AMLO’s Government

Things That Matter

The Peso Plummets After Mexico’s Finance Minister Quits And Calls Out Corruption In AMLO’s Government

LocalBusPod / Twitter

Mexico’s peso has taken a hit in value after the country’s finance minister decided to quit his job over disagreements with the president.

The decision by a top adviser to the Mexican president to resign while denouncing conflicts of interest in the government stunned the nation and its financial markets.

After news broke that the finance minister was resigning, the Mexican Peso lost a lot of value.

Credit: @CNBCNow / Twitter

Finance Minister Carlos Urzua’s abrupt decision to quit on Tuesday was the first major cabinet loss since Andres Manuel Lopez Obrador took office in December. The scorching tone of his resignation letter, from a public official known for extreme politeness and addressed to a president who made fighting corruption his central campaign issue, made the departure all the more surprising.

The unexpected departure of Carlos Urzua seven months into Lopez Obrador’s presidency sent stocks and the peso plunging and renewed worries among investors still wary after the president’s cancellation of a $13-billion airport project that was underway outside Mexico City.

In his resignation letter, Urzua called out corruption and conflicts of interest inside the government.

Credit: @CarlosM_Urzua / Twitter

“I’m convinced economic policy should be based on evidence, considering the various effects it may have and free from all extremism, whether from the right or left,” Urzua wrote in the letter posted on his Twitter account, adding that decisions by Lopez Obrador’s government on matters of public administration have lacked foundation. “However, during my term, these convictions weren’t shared.”

His tweet already has more than 25,000 retweets and nearly 7,000 comments.

By midday, the peso had fallen over 2% against the US dollar – a major slide for a currency considered to be quite healthy.

Credit: @LocalBusPod / Twitter

Within an hour, AMLO, as the leftist leader is known, nominated Arturo Herrera, Urzua’s deputy, to replace him. That helped to limit a tumble in the peso, which fell 1.2% at 3:23 pm local time, stopping losses of as much as 2.3% that had followed the publication of Urzua’s letter. The nation’s main stock index fell as much as 2%.

Markets are worried because according to many sources, Urzua was seen as the most responsible official at the finance ministry.

Credit: @GMonroyEnergy / Twitter

Many have admitted that it was not a secret that there were disagreements within AMLO’s government over economic policy.

Urzua had publicly opposed a law proposed by Lopez Obrador’s Morena party to reduce bank fees. He also opposed a proposal that the government dip into central bank reserves to fund infrastructure plans.

Some bickering is to be expected with any government, according to Coutiño, “there should be a consensus in terms of what the administration wants to do in the country.”

And the news simply shocked many, since Urzua had been one of AMLO’s most vocal allies and supporters.

Urzua has been a long-standing ally of Lopez Obrador, having been his finance secretary when AMLO was mayor of Mexico City at the start of the last decade. Herrera is also a former finance minister of AMLO’s in the nation’s capital.

READ: Protests In Mexico Over Increasing Gas Prices Turned Violent