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Eric Tyson. Investing in Your 20s & 30s For Dummies
Developing and Testing Your Investing Beliefs
Praise for Eric Tyson
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Investing in Your 20s & 30s For Dummies® To view this book's Cheat Sheet, simply go to www.dummies.com and search for “Investing in Your 20s & 30s For Dummies Cheat Sheet” in the Search box. Table of Contents
List of Tables
List of Illustrations
Guide
Pages
Introduction
About This Book
Foolish Assumptions
Icons Used in This Book
Beyond the Book
Where to Go from Here
Getting Started with Investing
Making Sense of Your Investing Options
Growing Your Money in Ownership Investments
Sharing in corporate growth and profits: Stocks
Profiting from real estate
Succeeding in small business
Making “riskier” choices: Options, cryptocurrencies, and so on
Keeping Money in Lending Investments
Understanding Risks and Returns
Realizing risks
Managing risks
Making sense of returns
Where to Invest and Get Advice
Finding the best fund companies and brokers
Finding an acceptable advisor
Using Investments to Accomplish Your Goals
Setting and Prioritizing Your Shorter-Term Goals
Accumulating a rainy-day fund
Saving for large purchases
Investing for a small business or home
Saving for kids’ higher educational costs
Investing short-term money
Investing in Retirement Accounts
Understanding retirement account perks
Grappling with retirement account concerns
Taking advantage of retirement accounts
Surveying retirement account choices
Company-based retirement plans
FIGURING HOW MUCH TO SAVE FOR RETIREMENT
Individual Retirement Accounts
Annuities: Maxing out your retirement savings
Selecting retirement account investments
Assessing Your Risk-Taking Desires
Setting Your Return Expectations
Estimating Your Investments’ Returns
Money market funds and savings account returns
Bond returns
Stock returns
IS HIGHER ECONOMIC GROWTH BETTER FOR STOCK PRICES?
Real estate returns
Small-business returns
Compounding Your Returns
The value of getting a few extra percent
Considering your goals
Minimizing Your Taxes When Investing
Understanding Investment Taxes
Tracking taxation of investment distributions
Determining your tax bracket
Highlighting the Tax Cuts and Jobs Act bill
Devising tax-reduction strategies
Reducing Your Taxes When Selling Investments
Weighing nontax issues
Tuning in to tax considerations
Determining the cost basis of your shares
Selling large-profit investments
Handling losers in your portfolio
Selling investments when you don’t know their original cost
Preparing Your Investing Foundation
Laying Out Your Financial Plans
First Priorities: Paying Off High-Cost Debt and Building a Safety Reserve
Paying off high-cost consumer debt
Establishing an emergency reserve
What about Paying Down Other Debts?
Assessing student loans
Considering paying down mortgage debt
Sorting Out Your Financial Plans
Considering your investment options and desires
Assessing your savings rate
Investing regularly with dollar cost averaging
Knowing the Impact of Investing for College Costs
Paying for college
Considering educational savings account options
Investing money earmarked for college
Securing Proper Insurance
Starting Out with Bank and Credit Union Accounts
Understanding FDIC Bank Insurance
Investing in Banking Account and Savings Vehicles
Bank checking accounts and debit cards
Savings accounts and certificates of deposit
Negotiating with Bankers
Feeling Secure with Your Bank
Evaluating any bank
Protecting yourself when banking online
Exploring Alternatives to Bank Accounts
Credit union accounts and benefits
Brokerage cash management accounts
Money market mutual funds
Managing Money Market Funds
Defining Money Market Mutual Funds
Making sense of the appeal of money market funds
Understanding the drawback of money market funds
Looking at Money Market Fund Holdings
Protecting and Accessing Your Money in Money Funds
Protecting your money
Accessing your money
Using Money Market Funds in Your Investment Plan
Shopping for the Best Money Funds
Discovering traits of leading money funds
Naming good money funds
Alternatives to Money Market Mutual Funds
Investing in Stocks, Bonds, and Funds
Getting Your Slice of Capitalism with Stocks
What Are Stocks?
How (and Why) You Can Make Money with Stocks
Understanding the importance of corporate profits
Making sense of how you profit with stocks
Timing Your Stock Buying and Selling
Following market indexes
Using price/earnings ratios to value stocks
Avoiding temptations and hype
Getting past the gloom
Sidestepping common investing minefields
Highlighting How to Invest in Stocks
Investing in stock mutual funds and exchange-traded funds
Picking your own stocks
INVESTING THROUGH HEDGE FUNDS
Researching individual stocks
Final thoughts on stock picking
Maximizing Your Stock Market Returns
Securing Investment Income and Principal with Bonds
Defining Bonds
Understanding bond issuers
TREASURY INFLATION-PROTECTED SECURITIES (TIPS)
Considering credit (default) risk
Making sense of bond maturities
Using Bonds in a Portfolio
Finding uses for bonds
Comparing other lending investments with bonds
Guaranteed-investment contracts (GICs)
Private mortgages
How and Where to Invest in Bonds
Choosing between bond funds and individual bonds
Investing in Treasury bonds
Investing in non-Treasury individual bonds
Evaluating individual bonds you currently hold
Fund Investing: Mutual Funds and Exchange-Traded Funds
Understanding the Advantages of Funds
Maximizing Your Chances for Fund Investing Success
Understanding the importance of performance and risk
Examining fund management experience
Keeping costs down
Understanding and using index funds
Understanding exchange-traded funds: Index funds that trade
Creating and Managing a Fund Portfolio
Identifying the Best Mutual Funds and ETFs
Investing in the best ETFs
Picking the best stock funds
U.S. stock funds
International stock funds
Balancing your act: Funds that combine stocks and bonds
Finding the best bond funds
The dangers of yield-chasing
Recommended short-term bond funds
Recommended intermediate-term bond funds
Recommended long-term bond funds
Considering Alternatives to Investing in Funds
Creating your own fund
Robo advisors
Unit investment trusts
Brokerage managed accounts
Hedge funds for the wealthier
Understanding Investment Brokers
Getting Your Money’s Worth: Discount Brokers
Assessing the high-commission salespeople’s arguments
Selecting a discount broker
CAN FINANCIAL ADVISORS ACCESS BETTER FUNDS THAT AREN’T AVAILABLE TO YOU?
Checking Out Online Brokers
Considering “free” online trades
Examining your online trading motives
Taking other costs into account
Looking at service quality
Listing the best online brokers
Investing in Real Estate, Small Business, and Other Investments
Seeking Shelter and Appreciation in Real Estate
Comparing Owning a Home to Renting
Weighing financial considerations
Considering costs and your time frame
Deciding when to buy
THE IMPACT OF COVID-19 ON REAL ESTATE
Figuring Your Home-Buying Budget
Getting your financial house in order
Determining your down payment
Doing lenders’ calculations
Assessing consumer debt
Determining homeownership tax savings
Shopping for Your Home
Understanding your housing options
Researching communities
Checking out and valuing a home
Investing in Investment Real Estate
Understanding real estate investment’s appeal
Sizing up real estate investment options
Real estate investment trusts
Residential housing
Land
Commercial real estate
Conducting real estate investing research
Assessing employment vitality
Evaluating the realty market’s health
Valuing property and financial projections
Financing and Putting Together Real Estate Investment Deals
Financing Your Real Estate Deals
Achieving loan approval
Fixing down payment blues
Boosting your credit score
Addressing a low appraisal
Handling insufficient income
Debating fixed-rate versus adjustable-rate mortgages
Understanding fixed-rate mortgages
Analyzing adjustable-rate mortgages (ARMs)
BEWARE OF BALLOON LOANS
Deciding between fixed and adjustable mortgages
What financial risks can you handle?
How long do you anticipate keeping the mortgage?
Finding your best fixed-rate mortgage
Landing an appropriate adjustable-rate mortgage
Understanding the start rate
Assessing your future interest rate
Making sense of common ARM indexes
Analyzing adjustments
Avoiding negative amortization ARMs
Understanding other mortgage fees
Finding the best lenders
Shopping through a mortgage broker
Shopping by yourself
Refinancing for a better deal
USING A HOME EQUITY LOAN
Working with Real Estate Agents
Recognizing agent conflicts of interest
Selecting a good agent
BUYING WITHOUT A REAL ESTATE AGENT
Putting Your Deal Together
Negotiating basics
Inspecting the property
Shopping for title insurance and escrow services
Selling Real Estate
Negotiating real estate agents’ contracts
Selling without an agent
Taking Your Talents to the Small-Business Arena
Investing in Your Career
Deciding to Start Your Own Business
Weighing your options
Entrepreneuring at a company
Turning a Business Idea into Reality
Drawing up your business plan
Plotting to leave your job
Financing your business
Considering Small-Business Investment Options
Buying an existing business
Investing in someone else’s business
Looking at franchises
Beware the pitfalls of multilevel marketing companies
Exploring Other Investment Vehicles
Calling on Options
Considering Gold and Other Precious Metals
GOLD AND COLLECTIBLES DON’T GET FAVORABLE CAPITAL GAINS TAX TREATMENT
Should You Invest in Currencies and Cryptocurrencies?
Contemplating Collectibles
Understanding the allure of collectibles
Seeing the realities of collectibles and their returns
Considering advice on buying collectibles
Understanding Annuities and Cash-Value Life Insurance
Availing yourself of annuities
Considering cash-value life insurance
The Part of Tens
Ten Things to Know about Investing Resources
Get Educated to Discern the Best from the Rest
Beware “Free”
Understand the Influence of Advertising
Value Quality over Quantity
Know How to Check Out a Resource
Beware Hype and Exaggeration
Don’t Assume Quoted Experts Know Their Stuff
Investigate Gurus’ Claims
Don’t Believe Investment-Newsletter Claims
Check Out and Keep Up with My Favorite Resources
Ten Essential Tips for Investing Success
Regularly Save and Invest 5 Percent to 10 Percent of Your Income
Understand and Use Your Employee Benefits
Thoroughly Research Before You Invest
Shun Investments with High Commissions and Expenses
Invest the Majority of Your Long-Term Money in Ownership Investments
Avoid Making Emotionally Based Financial Decisions
Make Investing Decisions Based on Your Plans and Needs
Tap Information Sources with High Quality Standards
Trust Yourself First
Invest in Yourself and Others
Ten Things to Know about Investing Apps
Beware of the General Dangers of Putting Apps on Your Cell Phone
Use Apps Only from Proven Companies with Good Reputations and Longevity
Consider the Alternatives to an App
Use the Best Personal Finance Apps to Have More to Invest
Be Skeptical of Investing Apps Offering “Free” Trading
Review Current and Historic Financial and Economic Data
Invest with Leading Fund Providers
Tap into the Best Investment Brokerage Firms
Examine the Best Real Estate Apps
Seek out Good Small-Business Apps
Taking Care with Health Insurance
Making Sure You’re Covered
Transitioning your coverage
Seeing how Obamacare changed your coverage
Recent developments and likely future changes
Finding Your Best Health Plan
Selection of doctors and hospitals
Plan benefits and features
Shopping for Health Insurance
Uncovering the best policies
Dealing with Obamacare’s high health insurance prices
Handling insurance rejection
Health Savings Accounts: Tax Reduction for Healthcare Costs
Index. Numbers
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
R
S
T
U
V
W
Y
About the Author
Dedication
Author’s Acknowledgments
WILEY END USER LICENSE AGREEMENT
