Here’s how to make 2020 the year you start building wealth. investinyou (In partnership with acorns.)
That's because longer time horizons give you years of compounding returns from stocks. It also means you're better prepared to stomach short-term market volatility.
"You can withstand that drop in market value because you won't need to sell those investments," said Westley.On that day, the S&P 500 closed at 676.53. Investors who were able to stay in the game have enjoyed a decade-long bull market since then, including record highs in 2019.Kick off your own due diligence as you decide which investments to buy.
Rather than focusing on one or two stocks, consider having broad market exposure through an index fund. "It could be a fund that invests in the entire market, so that you don't have to make too many decisions," said Westley. "You'll still capture market returns over time."informative booklets with everything you need to know about your investment's fees and objectives.
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