Many Americans remain reluctant to invest in the stock market, a scary hangover from the 2007-09 recession.
This month marks the 10-year anniversary of the current bull market’s beginnings. Yet many Americans remain reluctant to invest in the stock market, a scary hangover from the 2007-09 recession.
This is a problem not only because non-investors have missed out on the longest-ever bull market in U.S. stocks, during which the S&P 500 more than quadrupled. Investing is also one of the best ways to build wealth, and most Americans will need money beyond Social Security benefits for a comfortable retirement.Accept the inevitable There will be another market crash in the future, possibly worse than the last, so accept this as a given.
Start small Warren Buffett, long heralded as an investor to emulate, also happens to be among the world’s richest people. This might wrongly suggest you need a lot of money to start investing, but Buffett began investing when he was 11 and bought his first stock for $38 a share. Focus on the future While investing-related decisions — broker versus robo adviser, which company best fits your needs or what investments to buy — certainly aren’t trivial, it’s important to start investing in the market. Investing is a trade-off between spending today or saving for tomorrow, and focusing on what kind of future you want to fund can be a powerful motivator.
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