When you work for an employer, they will typically offer decent retirement packages. You don’t have that luxury when you are in business for yourself. Entrepreneurs need to begin saving for retirement while they are still young.
Unfortunately, investing for retirement isn’t easy if you don’t know what you are doing. You need to research different investing options and take advantage of the resources available to you. Here are some of the top investing resources young entrepreneurs need to be aware of.
#1. The College Investor
The College Investor is a resource that was created by Robert Farrington in 2009. Farrington is recognized as America’s Millennial Money Expert and Americas Student Loan Debt Expert, so you can count on him to offer exceptional advice.
Farrington has a number of great tips that young investors should be aware of. Many of his posts are geared towards people working in traditional jobs, but he has a lot of great information for young entrepreneurs as well. He has an entrepreneurial background himself. He created his own eBay business when he was 13 and began investing his money from it. He can definitely relate with young entrepreneurs better than most professional money managers. Here is a little of his backstory from his website’s About page.
“Once I got to college, I soon realized that most people were oblivious to investing and personal finance. However, there was a small group that really found it interesting, but they weren’t quite my style. This group was investing and doing some crazy stuff (penny stocks, etc.) and it didn’t really suit me. So, I went my own direction with a mix of common sense personal finance and investing ideas. It turns out, when I went to graduate school, this is what most of my friends were looking for. Even though this was a class of MBA students, many people were unaware of the basics of personal finance and investing. I ended up helping many of my peers, and have since been helping people here.”
#2. Money under 30
Money under 30 is a comprehensive personal financial site for young professionals, including millennial entrepreneurs. They have plenty of great articles on saving money on insurance, finding ways to cut your student loan payments and squeezing the most of every investment.
Even if you are primarily interested in learning about investing, it is a good idea to look at the rest of their content too. Finding ways to save money is crucial for young entrepreneurs and investors. Money that you save on ordinary purchases can be invested into your business or retirement account. You may be surprised by how much more quickly you can build your portfolio if you find creative ways to cut your monthly expenses.
#3. The Reformed Broker
The Reformed Broker is a blog by Joshua M. Brown. Brown is a financial advisor withRitholtz Wealth Management in New York City. He created this site to help people navigate the complexities of managing a portfolio.
This site is far more focused than other personal financial sites. If you really want to learn how to invest by a professional, then there is lots of great content on the Reformed Broker.
#4. Financial Ducks In A Row
Financial Ducks In A Row is another great investing blog by a seasoned financial professional. Jim Blankenship created the blog to help people plan for retirement, but expanded the content over the years. It takes a broader view than The Reformed Broker, but it is a great resource on investing. You should also check it out if you want to learn about saving for education and other important life events.
Blankenship has a lot of great articles on his site. One of the best is a post called 5 No-No’s for IRA Investing. He talks about the mistakes people make with dipping into their IRA and selling extraneous assets to your IRA.
Investopedia is one of the best financial websites in the world. It covers a plethora of investing topics, ranging from fundamental equity investing to technical analysis to futures speculation. You have a number of options if you are planning on building wealth, so Investopedia can help you figure them out.
Unlike most other sites, they also provide guidance that is tailored to recent events. For example, they recently had a post talking about the possibility that a financial downturn may be on the horizon and steps people may need to take to prepare for it. If you need to understand the implications recent events will have on your portfolio, you should consider subscribing.
#6. Weiss Financial
Sometimes you need more direct guidance. Weiss Financial has a number of esteemed financial professionals that can help you out. According to the Weiss Financial website, the company believes that everyone deserves the skills to be successful in today’s challenging financial climate.
“At Weiss Finance we don’t believe that the know-how to make money from the world’s financial markets should be the privilege of only the kind of people who can afford to invest hundreds of thousands into their trading. Rather, we want to help everybody who joins us to reach a level of practical expertise that will bring them success every day.”
If you are a more aggressive investor, then this is a great business to work with. They have a number of great tips for being a successful trader. They also have a great trading system, which allows you to buy and sell securities with as little as four clicks.
Use these Resources to Your Fullest Potential
Your business may be making great money today, but you won’t want to work forever. You want to start building wealth for the future. Learning to be a successful investor is important for every young entrepreneur. If you have mastered the art of building a company, then you can tackle this challenge as well.
There are tons of great resources out there. You just need to seek them out and use them to your advantage.