Me, believing in myself. _________ When I walk the Earth helping strangers with their investments, I hear a lot of people repeating the same common misconceptions about money and investing. This is my chance to set the record straight! Misconception 1: Investing is hard Not true! Investing is easy! It's just that not investing is also easy. Easier in fact. So comparatively, you may have a point. Misconception 2: Only rich people invest Again, not so! Everyone can invest! Rich people often make more money investing than everyone else, but money isn't everything! Many people invest because it helps them meet people or become more active! Misconception 3: The stock market is dangerous I don't know what that is. Misconception 4: It's OK to delay planning for retirement Do you have a job? Every evening you stop working and go home, right? That's retirement! It's already here, every day! And longer on the weekends! You need to start planning now! Misconception 5: Investing is about earning money quickly Many investments make no money at all! Misconception 6: I don't need to diversify Diversifying is very important. But if you remember your Three B's and "Buy everything you see" you'll find you're automatically diversified! That's the power of my system. Misconception 7: Try and invest on your own Investing on your own is easy, but it's easier to get someone else to do it for you. Find a man who knows about money. They usually wear gray suits. They used to wear those green visors, but stopped doing that. Misconception 8: Pay yourself first Every time you earn money, give some of it to yourself! You earned it! __________ Q: What do you know about investing?- H. Jervis, Cincinnati, OH A: My entire family has been involved in show business for decades, and I've been starring in movies since the age of 18. I would have to say that my favorite director to work with was Ridley Scott. Thanks for your question!
Me and my good friend Ellen DeGeneres. I often help her with her investments. Q: What was it like sleeping with Patricia Arquette? She was pretty hot back in the day. – B. Kipson, Los Angeles, CA A: It was all right! Q: What are the benefits of a Roth IRA versus a traditional 401k? Also, what was it like sleeping with Patricia Arquette again? – L. Menkinson, Indianapolis, IN A: Contributions to a Roth IRA are not tax deductible, but most withdrawals will be untaxed. Whether a Roth IRA or traditional IRA is right for you will depend on the marginal tax brackets you're in while contributing and at retirement. And Patricia was wild! Great times! ___________