The Benefits of Early Investing

Can young people become millionaires? They can if they begin investing early! Listen to Grant Sabatier, “the millennial millionaire,” as he shares why and how he embraced an early investing strategy. Grant took advantage of a bear market and made millions of dollars when the market recovered. He stresses the importance of having both a short-term and long-plan for investing. Doug and Grant discuss his strategies and discipline, and explore the successes and failures of Grant’s investment journey. Should young investors invest aggressively? Doug answers the question of when someone should begin saving. The answer is simple… right now! Millennials should start putting aside a percentage of their income as soon as they begin working. Ignore the impulse to wait until “things are financially easier” to save, since saving is a habit. Doug explains how mutual funds and index funds work, and encourages creating a long-term plan for stock market investing. Unlike older or late investors, a young investor may be able to afford more risk and use more aggressive investments -- and become more conservative as retirement approaches. Listen for some investment techniques that may help increase a young investor’s confidence (and hopefully, success). New and experienced investors alike may benefit from watching a video about Monte Carlo simulations. To learn more about Grant and his investing story, listen to his podcast Millennial Money Minutes, or go to his website millennialmoney.com. Follow him on Twitter @millennialmoney. Visit www.profile-financial.com to learn more about Doug Goldstein’s investing strategies. Investors needing to move their money to the U.S. can find a helpful tool kit on the site. If you’re not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug’s free ebook The Retirement Planning Book.