1 SENTENCE SUMMARY: This book is a helpful and accessible guide for young adults who want to learn how to confidently manage their finances and take the first steps towards investing.
“Investing is the greatest equalizer — it gives anyone with the right knowledge and tools the ability to become financially independent and secure their financial future.”
Quick Info
Category: Personal Finance
Publish Date: 2019-04-09
# Pages: 256
ISBN: 0143133640
Where to Get It:
Buy on Amazon
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Table of Contents
Overview
Broke Millennial Takes On Investing, by Erin Lowry, is a must-read for anyone looking to get started investing their money.
Written in an approachable, humorous way, Lowry provides a comprehensive guide to investing for millennials, those just starting out, or anyone who needs a refresher.
With topics such as understanding investments, the power of compound interest, and how to build a portfolio, Lowry provides a step-by-step guide that anyone can use to start investing and building wealth.
Lowry also helps readers to understand the common pitfalls to watch out for, as well as how to avoid them.
Lowry’s advice is easy to understand and her stories are engaging, making this book a great resource for anyone looking to start investing.
4 Key Lessons from Broke Millennial Takes On Investing by Erin Lowry
1. Have a Plan
Having a plan is important when it comes to investing.
It’s essential to have a clear idea of what you want to achieve, how much you’re willing to invest, and the timeline for reaching your goals.
Without a plan, it’s easy to become overwhelmed and lose focus on what’s important.
Having a plan can help you stay organized and on track with your investing goals.
2. Understand Risk and Reward
Investing involves taking on risk in exchange for potential reward.
Understanding the risk and reward of different investment options can help you make informed decisions and reach your goals.
Before investing, make sure to thoroughly research the investment and understand the risks as well as the potential rewards.
3. Diversify Your Portfolio
Diversification is an important part of investing.
It’s important to have a mix of investments in your portfolio to reduce risk.
Different types of investments have different levels of risk, so diversifying your portfolio can help balance the risk and reward of your investments.
4. Know Yourself
Understanding your own risk tolerance, financial goals, and investment timeline can help you make smart decisions about your investments.
Knowing yourself can also help you choose investments that are right for you and your financial situation.
Taking the time to understand your own financial situation can help you make smart investing decisions.
Who Should Read It
The target audience for Broke Millennial Takes On Investing by Erin Lowry would be millennials who are looking to start investing in their financial future.
The book is suitable for those who want to learn about investing basics and strategies for managing their money but who don’t have much financial experience.
Where to Get It
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About Erin Lowry
Erin Lowry is a personal finance expert and author of the book, Broke Millennial Takes On Investing.
She is also the founder of Broke Millennial, a personal finance website that helps young adults make smarter financial decisions.
Lowry has been featured in various publications such as The New York Times, USA Today, and Business Insider.
She is a frequent financial expert and commentator on MSNBC, Fox Business, SiriusXM, and CNBC.
Lowry is a CFP® professional and holds a Bachelor of Science in Economics with a concentration in Finance from The Wharton School at the University of Pennsylvania.
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Other Personal Finance Books you may Like:
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- Everyday Millionaires by Chris Hogan
- Finance for the People by Paco de Leon
Over to You
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Thanks a lot,
Simon
Welcome to DailyBitsOfWisdom.com, my passion project inspired by my own battle with depression. Here, I share resources on journaling, positive affirmations, self-help insights, and book summaries, creating a nurturing space where we can connect, learn, and grow together on our journey to self-discovery and personal growth.