For today’s episode, Tyrell and Daphne continue their January “life hack” series by exploring the basics of investing. They begin by discussing Tyrell’s recent journey with investing (3:00) as well as common misconceptions about (5:15) and benefits of investing (8:15). Next, they discuss steps to maximizing retirement and investment accounts (12:15). Additionally, they have a conversation about the difference between stocks and index funds (22:00). Tyrell and Daphne also discuss meme stocks and the importance of researching the technical and fundamental aspects of stocks (28:30). They close the episode by sharing information about the tax implications of investing (44:45) as well as additional investment strategies and resources(48:30).
Resources:
- BhD Patreon – https://www.patreon.com/bhdpodcast
- Robbins. (2014). Money : master the game : 7 simple steps to financial freedom (First Simon & Schuster hardcover edition.). Simon & Schuster.
- Graham, & Zweig, J. (2003). The intelligent investor : a book of practical counsel (Rev. ed. / updated with new commentary by Jason Zweig.). HarperBusiness Essentials.
- Galgani. (2013). How to make money in stocks, getting started (1st edition). McGraw-Hill Education.
- Book: The Complete TurtleTrader by Michael W. Cover.
- Earn Your Leisure – https://www.earnyourleisure.com
- For fundamentals and technicals – www.sofi.com and hyperchart.co
- The Fear and Greed Index – https://money.cnn.com/data/fear-and-greed/
- Apps: VectorVest