Young Investors: Here Are Your First Steps

We get a lot of questions from investors in their twenties and early thirties who are first beginning the process of building a portfolio and investing. The price of rent and the ubiquity of large student loan balances have made this a bigger challenge for young people than previous generations have had to contend with, and yet they’re still managing to get it done now.

We created Liftoff a few years ago as a way to help young people get started – it’s a low-cost automated asset management platform that allows people to connect a bank account and set an automatic monthly contribution amount toward specific life goals. The portfolios were constructed by Michael Batnick. The first account on the platform was one I opened for my own children. We’ve been helping people who don’t otherwise qualify for or require the full wealth management services of Ritholtz Wealth Management for years now and it’s been a gratifying experience.

But asset management, the selection of sectors and funds, along with rebalancing, goal-setting and planning, is just the tip of the iceberg. There are some other steps to take early on and some ideas to keep in mind as you get started.

I asked the Ritholtz Wealth all stars for some advice for new investors for a quick video we put together with our CFO Bill Sweet, who is also a tax expert and Certified Financial Planner. I think this will be helpful, please share it with the young people in your life who are embarking on the journey now.

Check it out! And subscribe to our channel!

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