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Ep 3. Fintech Apps, Types of Investments, Exchanges and Custodians, Oh My!
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From brokerage firms to apps, mutual funds, index funds, crypto, ETF’s, and many others, there are so many different ways to invest. After discussing money personalities and the differences between short-term and long-term investments in our last episode, today we discuss how to move forward on your journey to financial success. Tuning in, you’ll hear about the differences between investments and speculation tools, and factors to consider before investing in either. We discuss what ‘noise’ is, the importance of having a plan so you are not distracted from achieving your goals, and how looking at things from fundamental and technical perspectives can help you manage your risks and invest with the long-term in mind. Find out why you shouldn’t always trust the press or investors, what exchange-traded funds are and how they are different from mutual funds, and how to choose the right app or investment custodian for you from the many that are available. To figure out the next steps you should be taking to build a portfolio and develop an action plan, tune in today!
List of Topics Discussed:
- The difference between an investment tool and a speculation tool.
- How what you invest in should be determined by whether it’s a long-term or short-term investment.
- What ‘noise’ is and the importance of having a plan so you are not distracted by it.
- Why you should think of things from both fundamental and technical perspectives when investing.
- Why you shouldn’t always trust investors or the press.
- What exchange-traded funds are and how they are different from mutual funds.
- The next steps to build out a portfolio and develop an action plan.
3 Lessons Learned:
1. The difference between an investment and a speculation tool: The former pays out a dividend, while the latter is an item that you believe will increase in value over time.
2. You should utilize fundamental and technical analysis to help you invest for the long term and manage your risks.
3. What exchange-traded funds are, how they are different from mutual funds, and when to invest in each.
Credits:
Production - We Edit Podcasts
Music - Future Looks Bright - Nick Petrov
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