Thread by @OneGSisneros

Everything your dad should have taught you about investing but didn't.

// a thread

My dad worked hard.

At 18 he started working in the gold and silver mines of Leadville Colorado, alongside my grandfather.

He never invested in the stock market and he never contributed to an IRA.

Obviously, my dad never taught me to invest, so it never crossed my mind.

Covid hit in early 2020 and I took the opportunity to reinvent myself.

At 54 years old I started my first Twitter account and by chance, some of the people I followed posted about money & investing.

I'd entered the world of Money Twitter...

on accident.

I was fascinated.

• I bought Gumroad courses
• I read books
• I watched YouTube videos

I swam in a river of investing.

And then on January 25th of THIS YEAR, at 54 years old, I bought my first stock!

If you've never invested, this is my advice in 4 easy steps.

1. Change your environment.

This changed the entire game for me.

Start following accounts like @The_MMW, @fredtheinvestor and @MoneyJrod.

Add one new account a day.

Surround yourself with investing and investors. Ask them questions in the DM's.

2. Study investing

If your money's in a savings account, you're losing money every day. Inflation is having a picnic.

Get going.

• Read One Up On Wall Street by Peter Lynch
• Read The Millionaire Next Door by Thomas J. Stanley
• Read The Psychology of Money by @morganhousel

Read blog posts.
Watch YouTube videos.
Take courses.

Soak in it!

3. While you're studying, pay off all bad debt

Bad debt = borrowing to buy things that go down in value.

Good debt = borrowing with the potential to increase your net worth.

Paying off high-interest debt will probably give you a better return on your money than almost any investment.

4. Start investing.

I studied investing for 6 months before I had the balls to pull the trigger. It was scary but as I look back, it shouldn't have been.

The sooner you start, the better.

With a 12% rate of return,

A 25 year old who invests $100 a month into an IRA for 40 years, will have an investment worth just over $1 million at 65.

Start at age 35, and you’ll have around $300,000.

➡️ Those 10 years just cost you $700,000.

With a 10% rate of return,

Starting at age 25: $584,000
Starting at age 35: $217,000

I'm begging you, get started.

Time your best friend when you’re investing,

Plus you’ll also reap the benefits of compound interest,

Which Albert Einstein called “the eighth wonder of the world.”

4 bonus tips:

1. Have a plan BEFORE you start investing. Outline your investment strategy, your contribution rate and frequency.

Stick with the plan.

2. Grab free money! If your employer offers a matching program like a 401(k), start there.

3. Start slow. Start as a micro-investor. Invest a little at a time to build up your portfolio and your confidence.

4. Continue to learn. Continue to improve your environment. Build your knowledge base.

Obvious disclaimer: I'm not a financial planner and I'm clearly not a financial expert by anyone's definition.

I wrote this post to get you off your ass. I hope it shows you that if I can do it, you can do it.

(I now own 10 individual stocks, shares of 2 different index funds and crypto. I bought another share of Apple, yesterday.)

It's
Never
Too
Late

I'd love to hear from you if you have questions. Shoot me a DM.

If you're interested, I can give you a link to the best investing course/book I've come across so far. Lmk.

I write 2 threads a week.

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I just published an eBook I want you to have. No charge.

Everything Your Dad Wanted To Say But Didn't.

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