- Kevin Matthews, founder of Building Bread, and Kelly Lannan, vice president of Fidelity Investment’s Young Investors for Personal Investing, sat down with Business Insider’s Tanza Loudenback to discuss investing for the Master your Money Live Digital Bootcamp.
- The two personal finance professionals had some tips for being a smart investor: Start as soon as possible, stay the course, and don’t chase “the next big thing.”
- Watch the video of the event below.
- This article is part of a series focused on millennial financial empowerment called Master your Money.
Personal finance correspondent Tanza Loudenback sat down with two personal finance professionals to talk about investing during the Master your Money Live Digital Bootcamp “How to be a smarter investor now.”
Kevin Matthews, founder of Building Bread, and Kelly Lannan, vice president of Fidelity Investment’s Young Investors for Personal Investing said smart investors share a few characteristics and behaviors. Here are three of the most important.
1. Start investing early
Heed the golden rule of investing: It’s all about time in the market, not timing the market. The longer your money is invested, the more time it has to grow.
Matthews said smart investors start at “the earliest possible moment,” whether that’s making contributions to their 401(k) or managing stocks family members have passed down.
But they’re not buying blind. Smart investors ask questions to educate themselves and always have a game plan, Lannan said.
“They’re not just jumping in for the sake of jumping in,” she said.