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| PDF Title : | I Will Teach You To Be Rich |
|---|---|
| Total Page : | 219 Pages |
| Author: | Ramit Sethi |
| PDF Size : | 2.3 MB |
| Language : | English |
| Rights : | iwillteachyoutoberich.com |
| PDF Link : | Available |
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I Will Teach You To Be Rich – Book
If your risk tolerance is low (if you’re scared of bears), or you’re approaching retirement, it’s best to keep your money someplace safe, such as bond funds or high-yield savings s. I keep cash equal to a few months of expenses in savings. I have a friend who is far less risk-tolerant than I am who keeps an entire year of expenses in savings. (Please, if you’re going to set this much money aside, put it into a high-yield savings or certificates of deposit!)
Even if your risk tolerance isn’t all that high, you can still invest in the stock market, even during downturns. Dollar-cost averaging is an excellent way to do this. Dollar-cost averaging simply means making regular, scheduled investments instead of buying into the stock market all at once. It’s a way to mitigate risk. An indexed mutual fund decreases risk because your money is diversified across many stocks. Dollar-cost averaging decreases risk even further because your money is diversified across time.