5 More Super Simple Investing Tips

What investing tips should you know?

No other part of the economy is designed for success quite like the stock market. So, what’s keeping you from being a member of the Investing Class? Setting up an investment account is easy, and you can get started today by using our investing tips!

Make money now with these investing tips

 

Get our next 5 investing tips to get started in the stock market:

On this episode of Queer Money® above, we’re sharing our final five tips to super-simple investing. We discuss the benefits of starting an employer-sponsored retirement account and setting up automatic annual contribution increases to invest more and more over time.

We weigh in on the advantages of investing in a custodial or college savings account for your children, leveraging stock market growth to pay for their education and other expenses. Listen in for insight on starting a health savings account to cover medical costs and learn why it’s crucial to assign beneficiaries on all your investing accounts!

Topics covered on investing tips

1. Start an employer-sponsored retirement account

• Prepare for retirement and reduce tax liability
• Contribute enough for the maximum employer match
• Use Blooom to help manage this account

2. Set up automatic annual contribution increases

• Invest more and more over time without feeling it
• Prevents from using money on ‘budget creep’

3. Start a health savings account

• Available to offset high-deductible plans
• Covers medical needs (e.g.: copays, prescriptions, etc.)

4. Open a custodial or college savings account

• Leverage stock market growth to pay for education
• Options include a 529 plan, UTMA or UGMA

5. Assign beneficiaries on all investing accounts

• Check for accuracy on an annual basis
• Make clear to the state/court who gets assets

Resources for simple investing

• Super Simple Investing Guide
• The Debt Lasso Method
• M1 Finance
• Acorns
• Blooom
• 401(k)s vs. 403(b)s on Queer Money® EP166
• Traditional IRA vs. Roth IRA on Queer Money® EP194
• Debt Free Guys on Facebook
• Debt Free Guys on Twitter
• Queer Money Facebook Group
• Queer Money on Instagram
• Subscribe on iTunes
• National LGBT Chamber of Commerce New York
• Washington’s LGBTQ Chamber of Commerce
• Email [email protected]

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