Mark, Quintin, and Mounir – three young millionaires-in-the-making – are young investors building their wealth and striving to achieve financial fitness. Mark is a 25-year-old investor focused on building his long-term wealth by making small investments early and reaping the rewards of compound interest. Quintin is a 20-year-old university student who is making his money work for him by investing a portion of his bi-weekly paychecks into the cannabis industry. Mounir, a 25-year-old investor who began his journey into investing while attending university, strives for financial fitness by diversifying his portfolio.
Mark, Quintin, and Mounir join me today to share their experience as young investors. They share what inspired and motivated them to begin investing, the lessons they have learned throughout their journey, and the strategies they use to build their wealth and their portfolios. They also share why they believe starting your journey into investing early is one of the best decisions a young millionaire-in-the-making can make and how investing has impacted their lives as well as debunk common misconceptions regarding young adults getting started with building their portfolio.
“The biggest misconception about youth investing is that we really don’t have the funds. Best part is the time on our hands.” – Quintin Rizzo
This Week on Young Money:
- What motivated Mark, Quintin, and Mounir to begin their journey into investing.
- Their experience with investing to-date.
- The benefits of compound interest.
- How Mark makes multiple, small investments to accumulate long-term wealth.
- Why Quintin decided to invest in the cannabis industry.
- What is a Dividend Reinvestment Plan (DRIP)?
- Debunking myths and misconceptions regarding youth investing.
- Lessons Mounir has learned during his first investing experience.
- How Mounir diversifies his investment portfolio.
Investing Advice for Young Millionaires-in-the-Making:
- Start early, start small. Find something to invest in that you are passionate about.
- Do your research and execute on it.
- Reap the benefits of compound interest.
- Make your money work for you – not the other way around.
- Pay off school debt as soon as possible and start saving.
- Learn by doing. Learn and understand basic investment strategies, vehicles, and the different types of things you can invest in.
- Exercise caution and make rational decisions, not emotional ones. Remember that higher rewards come with higher risks.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast – the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!