From the course: Start Young for Your Best Retirement
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Set and forget
- 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…
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