Investing for Millennials
Recently I have received a few tweets and emails asking me to talk about investing, specifically for millennials. One of those requests came from a reader/listener, Claire, who is a 23 year old recent college grad who wanted to know how to invest her money.
The Ponytail Martini
This is my go-to drink whenever I am going to drink for a few hours and I typically say "Vodka, Soda, splash of cranberry;" however, recently I was in a bar in New Orleans and the bartender said that he called this "The Ponytail." It's typically served in a highball glass, but if you are feeling fancy, you can serve it in a martini glass.
2 oz of Vodka
1 oz of Cranberry
Club Soda
Shake vodka and cranberry over ice, pour into martini glass and top with cold club soda.
Podcast Notes
We talk about your three buckets of money and which each one represents
Shannon warns about having a "barbell" of investments where you only have cash/emergency savings and retirement savings
Shannon shares her steps to determining how you should separate your buckets of money and then invest them
Shannon explains asset allocation and why it's important
Shannon gives guidance on what asset allocation you should have for each bucket of money
Shannon talks about a good process for getting into investing, especially if you never have before
Shannon explains the differences between stocks and bonds and ETFs and mutual funds
Claire promises to come back on the podcast in a few months to give the listeners an update
Random 3 Questions Claire Answered:
What is the best advice you would give millennials who are interested in getting smarter with their money?
If you could visit any location in the U.S., where would it be and why?
What is a book you read that changed your life?