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A Millionaire’s Best Investment Secrets

Do you ever get overwhelmed by the endless possibilities of investing? No worries, Philip Michael is the perfect mix of host extraordinaire and investing guru. He’s here to share a few investment tips. No, he won’t tell you what to do. But here’s how he invests, so use this information to make your own plans!

The S&P 500

This is basically an index that tracks 500 large companies and reflects the stock market as a whole. It tells you if our economy is thriving or tanking. Philip says it’s historically safe to just invest in the stock market because it grows by a percentage every year, though there’s no such thing as a zero-risk investment. But the S&P 500 has some of the largest tech companies, and, of course, the tech scene sees steady and fast growth, even during chaotic times.

Index funds

You also can invest in index funds or exchange-traded funds (ETFs), which basically means that you can “buy and sell a basket of assets without having to buy all the components individually.” Philip explains ETFs as companies that track the S&P 500 and then invest in other companies. So they also track the economy’s growth. He personally invests in VOO and SPY. How do you know which ones to choose? Philip looks at their growth trends over five years.

FAANG

This stands for Facebook, Amazon, Apple, Netflix and Google, and it is the S&P 500’s shining star. They’ve all continued to grow, even during the crisis of a global pandemic. During the lockdowns, did you watch more Netflix? Increase your online shopping? Ask Google more questions? We have all contributed to FAANG’s persistent and powerful success. Philip says FAANG is a safer bet if you’re just starting out in investing.

 

Philip likes these three forms of investing, but you never know what’s right for you until you do the research. But his most important lesson? Things take time. Even a “quick score” from the stock market can take more than two years if you’re lucky. If you’ve never had a lucky streak, always be prepared for your investments to take a nosedive. Of course, that’s the risk of it all!

7 hours ago
Watch today's edition of #BoldTV! 😊
Our host @Philip_Michael discussed Amazon India, #vaccines, #PPP, quitting your job, and more!

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8 hours ago
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9 hours ago
Identify as your ideal future-self! Tag a friend who needs to hear this advice!

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10 hours ago
It's #AskPhilip time! Have any Business questions you want our fabulous host @Philip_Michael to answer! Here is your chance! You might see yourself on our show! Send them our way through a tweet or DM us! https://t.co/jP3BSJBAIA
11 hours ago
Ask Philip: Advice For Recent College Graduates - https://t.co/O0YQ6oaC30

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