Friday Feature: Investment Bros Are Exploding, But...
Organizing your Finances Before You Invest
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Finance Bros
Most of the definitions I found were not flattering, but, I like the name, so I am using it. I am referring to people on YouTube and in various groups (even the famed WallStreetBets on Reddit) that are helping people learn to invest.
There are some wild strategies out there, and I am a boring investor, so I will let you spiral through the internet on your own.
My goal here is to prevent some common mistakes and misunderstandings that lead to short-term losses, regret, and tax burdens.
I am going to recommend two books for this audience:
#2 is essential, and you need #1 to understand #2. Also, this is SubStack so I can’t make money on these books. Just buy them and set a time every day to read them.
If you are not willing to invest in two books and the time to read them, I suggest maybe not investing :).
What happens next? I will explain what you need to do before you start investing, and how to moderate your enthusiasm when a Finance Bro gets you fired up and motivated.