Here’s a step by step guide of How to Invest in 2023 and the basic strategies to begin investing and growing your wealth - enjoy! Add me on Instagram/Snapchat: GPStephan
Join the private Real Estate Facebook Group:
https://www.facebook.com/groups/therealestatemillionairemastermind/
Get $50 off for a LIMITED TIME with code ThankYou50 - The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $125 million in sales: https://goo.gl/UFpi4c
First, for those just looking for a basic place to put their money, we have the almighty Ally Bank Savings Account that currently offers a 2% interest rate. You can also use a few other high interest bank accounts, like Barclays, Sychrony Bank, or American Express Savings…they all currently offer around a 2% return.
Second…and this is arguably the most important part of this entire video…when it comes to investing, especially if you’re JUST starting out, is set up a Roth IRA. This is basically an account that you can put money into, and by the time you’re 59.5, you can pull ALL of your profit completely tax free without paying ANY capitals gains tax. Vanguard has a great option for a Roth IRA if you chose to invest with them.
Now third, in terms of WHAT to invest in, my BIGGEST recommendation for MOST people out there is to invest in an index fund with a low expense ratio. When people always ask “how can you get an averaged 8% return”…this is pretty much my advice. Long term, historically, over the last century, the stock market has returned about 8% annually, adjusted for inflation, with dividends re-invested.
Ok…number 4…and I figured I’d put this here instead of listing it back to back with the Roth IRA…but that’s setting up a Traditional 401k. This is an account where whatever you contribute is deducted from your total taxable income, and you can grow your investment tax free until you take it out at 59.5. This means that you’ll have MORE money to invest because you’re paying LESS in taxes. The “catch,” however, is that you’ll pay taxes on whatever you take out of your account after the age of 59.5.
Now number 5…back to investment options. If you want to, or you’re interested in doing a little more work, you can invest in individual stocks. I personally recommend you try to do this within a Roth IRA or 401k to avoid getting taxed on your profits…but this isn’t required. You can just as easily open an account on Robinhood, invest in individual stocks commission free, and reap some pretty great returns.
Now Number 6…my favorite…obviously…is investing in real estate Real Estate. Now unfortunately, this is one of those things that you’ll probably need to work up to. Especially if you’re just starting, unless you have a decent amount of money to already work with, I’d probably recommend saving up or investing elsewhere and then coming back to real estate one you have some capital to work with. Typically, you’re going to need about a 15-20% down payment - which could be a lot of money depending on where you’re planning to invest.
But real estate is my favorite for a few reasons:
The first if that you get immediate cashflow from renting it out.
Second, because of all of the tax deductions, most of that income you make is tax free
Third, you’re able to BORROW most of the money to buy real estate and slowly pay that off over time
Fourth, you’re building up equity as you pay down the loan - so eventually you’ll own it outright
And finally, the property is likely to increase in value over time
This is why it’s no surprise that 90% of the world’s millionaires are created through investing in real estate…and I’m absolutely no exception!
And finally…number 7…drum roll…is investing into a business. And this is probably where you can get the highest return from just about ANYTHING I’ve mentioned so far, or pretty much ANY other investment out there.
Now these are just a few ideas for you to go out and consider…some people might say forex trading, swing trading, etc, the list goes on. But as I mention time and time again, the higher the return, the riskier the investment, and that’s absolutely something to take into consideration.
For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness @gmail.com
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Join the private Real Estate Facebook Group:
https://www.facebook.com/groups/therealestatemillionairemastermind/
Get $50 off for a LIMITED TIME with code ThankYou50 - The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $125 million in sales: https://goo.gl/UFpi4c
First, for those just looking for a basic place to put their money, we have the almighty Ally Bank Savings Account that currently offers a 2% interest rate. You can also use a few other high interest bank accounts, like Barclays, Sychrony Bank, or American Express Savings…they all currently offer around a 2% return.
Second…and this is arguably the most important part of this entire video…when it comes to investing, especially if you’re JUST starting out, is set up a Roth IRA. This is basically an account that you can put money into, and by the time you’re 59.5, you can pull ALL of your profit completely tax free without paying ANY capitals gains tax. Vanguard has a great option for a Roth IRA if you chose to invest with them.
Now third, in terms of WHAT to invest in, my BIGGEST recommendation for MOST people out there is to invest in an index fund with a low expense ratio. When people always ask “how can you get an averaged 8% return”…this is pretty much my advice. Long term, historically, over the last century, the stock market has returned about 8% annually, adjusted for inflation, with dividends re-invested.
Ok…number 4…and I figured I’d put this here instead of listing it back to back with the Roth IRA…but that’s setting up a Traditional 401k. This is an account where whatever you contribute is deducted from your total taxable income, and you can grow your investment tax free until you take it out at 59.5. This means that you’ll have MORE money to invest because you’re paying LESS in taxes. The “catch,” however, is that you’ll pay taxes on whatever you take out of your account after the age of 59.5.
Now number 5…back to investment options. If you want to, or you’re interested in doing a little more work, you can invest in individual stocks. I personally recommend you try to do this within a Roth IRA or 401k to avoid getting taxed on your profits…but this isn’t required. You can just as easily open an account on Robinhood, invest in individual stocks commission free, and reap some pretty great returns.
Now Number 6…my favorite…obviously…is investing in real estate Real Estate. Now unfortunately, this is one of those things that you’ll probably need to work up to. Especially if you’re just starting, unless you have a decent amount of money to already work with, I’d probably recommend saving up or investing elsewhere and then coming back to real estate one you have some capital to work with. Typically, you’re going to need about a 15-20% down payment - which could be a lot of money depending on where you’re planning to invest.
But real estate is my favorite for a few reasons:
The first if that you get immediate cashflow from renting it out.
Second, because of all of the tax deductions, most of that income you make is tax free
Third, you’re able to BORROW most of the money to buy real estate and slowly pay that off over time
Fourth, you’re building up equity as you pay down the loan - so eventually you’ll own it outright
And finally, the property is likely to increase in value over time
This is why it’s no surprise that 90% of the world’s millionaires are created through investing in real estate…and I’m absolutely no exception!
And finally…number 7…drum roll…is investing into a business. And this is probably where you can get the highest return from just about ANYTHING I’ve mentioned so far, or pretty much ANY other investment out there.
Now these are just a few ideas for you to go out and consider…some people might say forex trading, swing trading, etc, the list goes on. But as I mention time and time again, the higher the return, the riskier the investment, and that’s absolutely something to take into consideration.
For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness @gmail.com
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
He looks younger 😂
I find myself at a crossroads, uncertain whether to liquidate my $150,000 stock portfolio. I'm seeking advice on the best strategy to capitalize on this current market.
Why did he upload a video on 2018 saying how to get rich in 2023? 🤔
CIT Bank offers a savings account that yields 4.85%. FDIC insured. Feels too good to be true 😬
This video is believable…
"How To Invest in 2023", the video is from 2018. Has anything happened since 2018 that could change the content? No, I'll just change the title and description to look up to date…
The constant change in the title is hilarious
I wanna think that if they don’t know what avocado toast is, they’re probably eating at home, which means probably good finances LOL I hope.
Graham doing futuristic shyt 😂😂😂😂
What did he said finally?
I'll be 58 this summer. I'm planning to work into my early 79's. Is it too late for me? Seems like it would take too much time to see big money.
Change the title make some more views XD!! Still a very good video!
Changing the title again bro
You cannot tell me my man is just changing the title every year lol
hey gramb can you do a video on fractional reserve banking?
After watching this for the third or fourth time, I finally liked this video
The good old title switch for some extra views. Very smart Graham, very smart.
every year Graham Changes the title and the description – hilarious
Nice title changing
i use algebra everyday. im in IT.
Yes, in 2023 for the 4th year consecutive he just changed the title
Everyone looked at the upload date when he said Facebook
How does this video relate to now that we’re in 2023
This didn't age well…
I want to quit my job so I can spend more time with my family, I wanna be rich and a stay at home dad, can you do a video on how I can do..well…that.?
Newest video from 2018 😂
Ally Bank savings interest rate up to 3.30% now 🙂
I feel so lucky. My employer puts 18 percent of my salary (I'm a physician) into my 403b and I contribute $0
The key thing that should be on everyones mind currently should be to invest in different sources of income that doesn't depend on the government, pretty much how i made my first million. Especially with the current economic crisis around the world. i'm taking advantage of the low prices. I have a diversified portfolio that spread across stocks, grade bonds, coins and etfs. my broker Susan Kay Mack, handles all my investments and ensures I stay above the market.
Thank you Graham!🥰🥰🥰🥰🥑🥂