We know that younger investors are or were more likely to put their stimulus checks into the stock market. And, of course, that comes with mixed feelings from financial advisors and other experts due to the nature of the stimulus checks–to help people who have been suffering economically throughout the pandemic.
However, if an investor does want to invest their money, or “put it to work” to use some Wall Street jargon, then what should they do with it?
“It’s a very tough question,” acknowledged Haley Sacks, aka Mrs. Dow Jones, in this episode of Coffee With Katherine. “Obviously, I want everyone to invest…when you’re talking about putting money to work, that’s such an excellent way to accomplish that. But a lot of people, especially young people, tend to put the cart before the horse and take action, usually from an emotional place.”
“You’re being short-term greedy, but not thinking about being long-term greedy,” she continued. “…Think about the whole of your life. Do you have an emergency fund, is your debt paid off? Are you maxing out your retirement contributions?”
Watch the full video above for more.