When you're young, sometimes simplest is best. See the easiest ways to save for retirement—from target date funds/direct deposits to tax-advantaged accounts.
- Learning how to invest can be complicated,…time-consuming and stressful.…Even though I'm a big believer in learning…at least the basics of investing,…I know there's people that don't have the time,…or the motivation, to learn.…Luckily for them, there's a lot of simple ways…to get into investing.…And with just a bit of work upfront,…you can get your savings to work for you.…The first thing that everyone should look at,…are direct deposits to tax-advantaged accounts.…In the U.S. many employers offer the ability…to automatically take money from your paycheck…and put it into a tax-advantaged account.…
Just make sure you take the time…to set up your 401K account, and have the deposits…automatically deposited into your chosen investments.…Mutual funds will also allow you…to automatically add to your positions at no extra cost.…It's a pretty great way to automate your investing.…If you have your own investing account,…use direct deposits to take advantage…of dollar-cost averaging.…This strategy means that you can avoid…
- Recognize the strategy used to combat inflation while still working.
- Determine whether investing in a company or working for a company is more profitable.
- Summarize the concept of Dollar-Cost Averaging.
- Identify the simplest, easiest investment opportunity available for young workers just starting to invest for retirement.
- Explain what “diversifying” means by using an example.
- Determine whether incurring debt can have a financial advantage.