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Investing in Your 20s and 30s For Dummies, 2nd Edition

Book Description

Start investing in your future now!

Millennials have witnessed a miserable market during most, if not all, of their adult lives. But going forward, the opposite is more likely to be true. In order to build a retirement portfolio that is capable of covering expenses in your golden years, it's necessary to start saving while you're young. Many individuals realize the importance of investing early in life, but simply don't know where to begin.

Investing in Your 20s & 30s For Dummies provides emerging professionals, like yourself, with the targeted investment advice that you need to establish your own unique investment style. Covering everything from the latest tax laws to new and improved investing funds, this latest edition helps you evaluate assets and manage risk to invest money wisely, and monitor your progress.

  • Start building a nest egg for retirement
  • Invest based on your own financial situation
  • Understand investment lingo
  • Have the confidence to manage your money for life
  • Determine your investment timeline and goals

There's no time like the present to start investing. So, get started today!

Table of Contents

    1. Cover
    2. Introduction
      1. About This Book
      2. Foolish Assumptions
      3. Icons Used in This Book
      4. Beyond the Book
      5. Where to Go from Here
    3. Part 1: Getting Started with Investing
      1. Chapter 1: Making Sense of Your Investing Options
        1. Growing Your Money in Ownership Investments
        2. Keeping Money in Lending Investments
        3. Understanding Risks and Returns
        4. Where to Invest and Get Advice
      2. Chapter 2: Using Investments to Accomplish Your Goals
        1. Setting and Prioritizing Your Shorter-Term Goals
        2. Investing in Retirement Accounts
        3. Assessing Your Risk-Taking Desires
      3. Chapter 3: Setting Your Return Expectations
        1. Estimating Your Investments’ Returns
        2. Compounding Your Returns
      4. Chapter 4: Minimizing Your Taxes When Investing
        1. Understanding Investment Taxes
        2. Reducing Your Taxes When Selling Investments
    4. Part 2: Preparing Your Investing Foundation
      1. Chapter 5: Laying Out Your Financial Plans
        1. First Priorities: Paying Off High-Cost Debt and Building a Safety Reserve
        2. What about Paying Down Other Debts?
        3. Sorting Out Your Financial Plans
        4. Knowing the Impact of Investing for College Costs
        5. Securing Proper Insurance
      2. Chapter 6: Starting Out with Bank and Credit Union Accounts
        1. Understanding FDIC Bank Insurance
        2. Investing in Banking Account and Savings Vehicles
        3. Negotiating with Bankers
        4. Feeling Secure with Your Bank
        5. Exploring Alternatives to Bank Accounts
      3. Chapter 7: Managing Money Market Funds
        1. Defining Money Market Mutual Funds
        2. Understanding Money Market Fund Holdings
        3. Protecting and Accessing Your Money in Money Funds
        4. Using Money Market Funds in Your Investment Plan
        5. Shopping for the Best Money Funds
        6. Alternatives to Money Market Mutual Funds
    5. Part 3: Investing in Stocks, Bonds, and Funds
      1. Chapter 8: Getting Your Slice of Capitalism with Stocks
        1. What Are Stocks?
        2. How (And Why) You Can Make Money with Stocks
        3. Timing Your Stock Buying and Selling
        4. Highlighting How to Invest in Stocks
        5. Maximizing Your Stock Market Returns
      2. Chapter 9: Securing Investment Income and Principal with Bonds
        1. Defining Bonds
        2. Using Bonds in a Portfolio
        3. How and Where to Invest in Bonds
      3. Chapter 10: Investing in Funds: Mutual Funds and Exchange-Traded Funds
        1. Understanding the Advantages of Funds
        2. Maximizing Your Chances for Fund Investing Success
        3. Creating and Managing a Fund Portfolio
        4. Identifying the Best Mutual Funds and ETFs
        5. Considering Alternatives to Investing in Funds
      4. Chapter 11: Understanding Investment Brokers
        1. Getting Your Money’s Worth: Discount Brokers
        2. Considering Online Brokers
    6. Part 4: Investing in Real Estate, Small Business, and Other Investments
      1. Chapter 12: Seeking Shelter and Appreciation in Real Estate
        1. Comparing Owning a Home to Renting
        2. Figuring Your Home-Buying Budget
        3. Shopping for Your Home
        4. Investing in Investment Real Estate
      2. Chapter 13: Financing and Putting Together Real Estate Investments
        1. Financing Your Real Estate Deals
        2. Working with Real Estate Agents
        3. Putting Your Deal Together
        4. Selling Real Estate
      3. Chapter 14: Taking Your Talents to the Small-Business Arena
        1. Investing in Your Career
        2. Deciding to Start Your Own Business
        3. Turning a Business Idea into Reality
        4. Considering Small-Business Investment Options
      4. Chapter 15: Exploring Other Investment Vehicles
        1. Considering Gold and Other Precious Metals
        2. Contemplating Collectibles
        3. Understanding Annuities and Cash-Value Life Insurance
    7. Part 5: The Part of Tens
      1. Chapter 16: Ten Things to Know about Investing Resources
        1. Get Educated to Discern the Best from the Rest
        2. Beware “Free”
        3. Understand the Influence of Advertising
        4. Value Quality over Quantity
        5. Know How to Check Out a Resource
        6. Beware Hype and Exaggeration
        7. Don’t Assume Quoted Experts Know Their Stuff
        8. Investigate Gurus’ Claims
        9. Don’t Believe Investment-Newsletter Claims
        10. Check Out and Keep Up with My Favorite Resources
      2. Chapter 17: Ten Essential Tips for Investing Success
        1. Regularly Save and Invest 5 Percent to 10 Percent of Your Income
        2. Understand and Use Your Employee Benefits
        3. Thoroughly Research Before You Invest
        4. Shun Investments with High Commissions and Expenses
        5. Invest the Majority of Your Long-Term Money in Ownership Investments
        6. Avoid Making Emotionally Based Financial Decisions
        7. Make Investing Decisions Based on Your Plans and Needs
        8. Tap Information Sources with High Quality Standards
        9. Trust Yourself First
        10. Invest in Yourself and Others
      3. Chapter 18: Ten Things to Know about Investing Apps
        1. Beware of the General Dangers of Putting Apps on Your Cellphone
        2. Use Apps Only from Proven Companies with Good Reputations and Longevity
        3. Consider the Alternatives to an App
        4. Use the Best Personal Finance Apps to Have More to Invest
        5. Be Skeptical of Investing Apps Offering “Free” Trading
        6. Review Current and Historic Financial and Economic Data
        7. Invest with Leading Fund Providers
        8. Tap into the Best Investment Brokerage Firms
        9. Examine the Best Real Estate Apps
        10. Seek out Good Small-Business Apps
    8. Personal Finance in Your 20s & 30s
      1. Bonus: The Lowdown on Health Insurance
        1. Making Sure You’re Covered
        2. Finding Your Best Health Plan
        3. Shopping for Health Insurance
        4. Health Savings Accounts: Tax Reduction for Healthcare Costs
    9. About the Author
    10. Advertisement Page
    11. Connect with Dummies
    12. End User License Agreement