The Best Financial Advice I Can Give, Part 4
Here's part four of our series asking five top personal finance experts to offer their single best piece of advice:
“Start now. Your money compounds more the longer it’s invested. Invest in an S&P 500 index fund, a mutual fund that puts investors’ money in 500 of the best companies in the world, including General Electric, Microsoft and Pfizer. These funds beat 75% of all other mutual funds, while charging lower fees, earning about an 11% return since 1926. In addition to starting now, invest often – monthly if possible. Start now, invest regularly, keep commissions low, and enjoy yourself.”
Jeff Fischer, Senior Analyst and Portfolio Manager for The Motley Fool and author of “The Motley Fool’s Investing Without a Silver Spoon.”
Excellent, excellent advice. Take it and you won't be sorry.
Continue to part 5 of The Best Financial Advice I Can Give.
Update: Time for the Outside the Beltway Traffic Jam.
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