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The Young Adult's Guide to Investing: A Practical Guide to Finance that Helps Young People Plan, Save, and Get Ahead

The Young Adult's Guide to Investing: A Practical Guide to Finance that Helps Young People Plan, Save, and Get Ahead

by Rob Pivnick

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Learn all about saving and compounding, budgeting, debt, negotiations, and more in this ultimate guide to finances and money!

It’s never too early to start saving those dollars! This extensive guide is perfect for teenagers, millennials, and even adults who want to learn more about how to handle money, banking, and investing in their future accounts. No more insecurity about the low funds in those bank accounts. Written by a financial advocate, this comprehensive guide is easy to understand and filled with fun graphics, tempting even the most uninterested teen to read and follow along. Encouraging financial independence and good saving habits, this book will teach
you concepts and skills such as:
  • Setting financial goals
  • Risk v. reward
  • Diversification
  • Financial advising
  • Minimizing costs and expenses
  • And more!

Statistically, Americans as a whole are financially illiterate; 21 percent of adults think that winning the lottery is their best chance of retirement! It is not too late to start learning how to best spend, save, and invest your money. With plenty of fun facts and basic lessons and takeaways, The Young Adult’s Guide to Investing is the perfect way to start planning your best financial future!

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Product Details

ISBN-13: 9781631585388
Publisher: Racehorse
Publication date: 04/06/2021
Format: NOOK Book
Pages: 58
File size: 12 MB
Note: This product may take a few minutes to download.
Age Range: 12 - 17 Years

About the Author

Rob Pivnick is an investor, entrepreneur, attorney, residential real estate investor, and financial literacy advocate. Rob has a B.A. in economics from Emory University in Atlanta, GA and has both a law degree and an M.B.A. from SMU in Dallas, TX. Professionally, Rob runs his own law firm, and previously was General Counsel for a private real estate investment company, and has worked at an AmLaw 200 law firm as well as in-house at Goldman Sachs and Co.

Table of Contents

Introduction v

Takeaways vii

Chapter 1 Savings 1

Why Save? 1

Global Household Savings Rates 1

Compounding 2

Chapter 2 Budgeting, Debt, and Setting Goals 5

Federal Debt and Deficit 5

Consumer Debt 5

Budgeting 6

Chapter 3 Negotiation and Making Deals 9

Tips/Techniques 9

Information is King 10

Chapter 4 Risk V. Reward 13

How Much Risk Should You Take? 13

Investment Horizon 14

Liquidity 14

Asset Allocation 14

Asset Classes 15

Chapter 5 Active V. Passive-Which is Better? 17

Adopt a Low-Cost Strategy-Minimize Expenses 17

Active 17

Passive/Indexes 17

Do Not Try to Time the Market 20

Do Not Chase Returns-Stay the Diversified Course 22

Minimize Costs/Expenses 24

Higher Fees Do Not Mean Better Performance! 25

A Note on inflation 26

Chapter 6 Diversification 29

Building a Diversified Portfolio 30

Step One: Basic Portfolio 30

Step Two: Adjust Bonds 30

Step Three: Add Real Estate Index 31

Step Four: Add Small Cap Stock Index 32

Step Five: Add Value Stock Indexes 32

Step Six: Add International Indexes 33

Chapter 7 Putting It All to Work-Where Do I Actually Invest? 35

How Do I Invest, Where Do I Put My Money, and Do I Need More Advice? 35

How About Financial Advisors-Are They Worth It? 37

When Should You Consider Hiring an Advisor? 38

Emotional Investing Has Its Cost 39

Final Exam Questions 40

Chapter 8 Money Is Not Everything 41

The Parable of the Mexican Fisherman and the Banker 41

Life is Short-Enjoy What You Do (That May Just Lead to Riches Anyway) 42

Takeaways 43

Sources and Credits 45

Index 47

Worksheets and Activities 49

Answer Keys 55

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