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How to Start Investing and Earning Passive Income Now | 611

  • Broadcast in Finance
Money Ripples Podcast

Money Ripples Podcast

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Getting started in investing your money is very similar to running a marathon. It’s almost like the couch to 5K. If you’re just starting from your couch, you don’t just get up and run a 5K. You might be able to do that, but you might get hurt.

Key Talking Points of the Episode

[01:57] Invest with PreREO!
[02:50] How is investing similar to running a marathon?
[04:35] Why do you need to handle investing in phases?
[05:32] What should be your first goal?
[07:07] What should you do with the money you’re saving?
[08:01] What comes after building your savings?
[09:00] Should you be max funding your 401K?
[09:58] How can you start getting into investing?
[11:19] Why should you consider Series I Savings Bonds too?
[12:30] How can I Bonds help you outpace inflation?
[13:48] What investments can give you better returns?
[14:50] What is the ultimate goal when you invest?
[15:52] What happens when you reach the finish line?
[16:32] What options do you have when you’re getting started?
[17:22] How can passive income change your life?

Quotables

“Your goal is to just start building a small amount of money in savings and hold it for a time in just a savings account.”

“Don’t take all your cash and empty it to either pay off debts, invest, or do anything else. You do not wanna gamble this money.”

“Do not fund your 401Ks and your IRAs. Forget those things. Again, focus on your savings and build up that liquid reserve.”

“Just so you know, these I Bonds, you can do as little as $25 invested. You can invest as little as $25, all the way up to $10K per person.”

“You have so many different places you can start from, no matter where you are. You always have a win.”

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