TommyBryson's video: My Investing Plan for 2021

My investment plan for 2021, is the same exact plan I had in 2020 and also 2019 nothing has changed. 💲1 on 1 Talk + My Budget + Stock Investments💲 https://www.patreon.com/tommybryson 💰MY M1 FINANCE PORTFOLIO💰 PLUS $10 Link: https://m1.finance/fQsrul1PZcHM Budgeting Video link: https://www.youtube.com/watch?v=K2iqN4KT8eo&t=1s 1. Should you let politics, volatility, and trends interfere with your long term investing ( why? ) - The answer is obviously no ( politics will change every 4 years, don’t bet your money on it) - Market Volatility ( going up and doing does not equal risk, it just how the market works ) - There will always be a new trend ( when it wasn’t tesla it was crypto, and before that tech stocks, before that bio stocks ) – follow the plan, not the trends Overall: - Investing is 80% psychological and 20% action - You have to control yourself and just keep following your plan - Just because someone else is getting rich faster than you doesn’t mean their right and you're wrong 2. What I invest in today, I will keep investing in until I'm retired from indexing ( why ?) - Index investing and dollar cost average ( meaning and diversified and I don’t carry that much risk) - I also recommend you invest a minimum 20% and 25% if you have kids ( meaning a quarter is going towards making you rich ) - This means you’ll need a budget and you’ll need to keep your expenses low ( I use my budget call the Simple Budget but that’s another video for another day ) Quick Math Before I show you My investments: - If you make less than 40k a year or minimum wage ( consider instead of investing using your money to upgrade your skills to earn more money – college, licenses, and hustles) - If you make for example $40k a year after tax that’s $3,333.33 a month ( 25% of that is $833 a month or 10k a year) - In 25 years you’ll have a million dollars and in 40 years you’ll have 4.8M – ( but also consider that 5% out of that 25% is going to go towards a 529 account when you kids to help out with college) My strategy: - I currently use m1 finance to invest, because once you set up it, it literally runs automatically ( and keeps a balanced portfolio ) - 7 different etfs ( 5 are stock-based and 2 are bond based ) - And it’s a 80% stocks and 20% bonds portfolio for more security Tip With investing you stick with what works you don’t bounce from strategy to strategy ( you’re playing with real money ) 3. Some tricks I learned - Open an m1 spend account (it's like a debit card and it's free ) - And just have your account request 25% of your money weekly and directly invest it for you - That way you don’t have to think about it, it's being done automatically * PRO TIP* INFORMATION IS EVERYTHING 👕Merch👕 https://teespring.com/stores/tommybryson ✅2 FREE AUDIOBOOKS✅ https://amzn.to/2Enayo8¬¬¬ 💰M1 FINANCE $10💰 Link: https://m1.finance/fQsrul1PZcHM 🎁ACORN FREE $5🎁 Link: https://acorns.com/invite/38EYSU ⚡FREE KINDLE UNLIMITED⚡ (traditional reading) Link: https://amzn.to/2VGbxt9 👨🏽‍💻DISCORD PRIVATE GROUP👨🏽‍💻 https://discord.gg/EcZEHpA My Camera Gear: https://www.amazon.com/shop/tommybryson ✔ Help Us Reach 500,000 Subscribers: https://goo.gl/0wvm6w 😎All My Social Media😎 Link: https://linktr.ee/tommybryson *Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I'm an Accountant but I'm not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.