Every year I give a talk to high school students. I ask them if they want to invest like millionaires. Without exception, they say they do. Then I point out that millionaires invest in hundreds or thousands of companies, instead of only in a few. The good news is that if you have a few thousand dollars, you can invest like a millionaire through mutual funds.
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As exciting as it may be to buy individual stocks, mutual funds and ETFs allow you to diversify. If you aren’t diversified then you are gambling, which can be fun but should not be considered investing.
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Article Series - 101 Investment Decisions
- 101 Investment Decisions Guaranteed to Change Your Financial Future by Paul Merriman
- Invest like a Millionaire – Use Mutual Funds and ETFs
- Investment Advisors – Commissioned & Fee Based