Dec 8, 2022 | Geoff Williams, MoneyGeek
Robert S. Bacarella, Monetta’s founder, president, and portfolio manager, shared his thoughts with MoneyGeek for a new piece on savings and investment strategies. The piece, titled “How to Start Saving and Investing,” provides commentary from industry professionals on possible strategies that can help readers begin to build their wealth.
Bacarella, a MoneyGeek expert contributor, explains how beginners could think about stocks and bonds as part of their overall strategy:
“There is no “right” amount to invest in stocks and bonds, but the most important thing is to start as early as possible. Building wealth is similar to rolling a snowball down a mountain slope: the higher you are on the slope, the more time it has to grow. You’ll never be higher on the slope than you are right now!”
“As you build your wealth, you can begin to increase your investments. Another important thing to note when investing is building a solid foundation with your first investment. Your first investment should be in a diversified portfolio that seeks to track market performance…Let this investment (snowball) roll down the slope unencumbered and, hopefully, over the long term, creating an avalanche of worth.”
Bacarella also offered some insight into how beginners who live paycheck to paycheck could start building wealth:
“Even when you’re living paycheck to paycheck, investing is an important way to build wealth and should be a priority. The amount you invest doesn’t have to be big, especially at the start. A small sum each month can go a long way. Adding to your investments regularly and thinking long-term will quickly gather momentum.”
Follow this link to learn more about how to to begin saving and investing: Read more at MoneyGeek