: Face your fear because money can buy happiness


Investing is scary. Not Freddy Kruger scary, but scary in the way things are when we don’t do them very often—like buying insurance or giving a eulogy. 
But investing is one of modern life’s necessary evils. That means one thing: New investors need to face their fears and look under the bed. There are no monsters lurking there when investing is done right.  

The scariest part might be all the questions a new investor has. How much do I need to retire? To pay for school? To buy a house? And those lead to more questions. Is a house an investment or an asset? What is an asset anyway? And then: Am I a growth investor or a value investor? Do I like the thrill of trading or does a large drop in an individual stock induce nausea? How much money will it take? Is there anyone to help me? Is there anyone I can trust who can help me?

So many questions, and most are for later. It’s best to begin at the beginning: Why bother investing at all?

That question is easy to answer. Because money can buy happiness, up to a point. Really. That’s what researchers say. Having enough money, compared with too little, can improve happiness. No one wants to worry. And people want to look forward to things like home ownership and retirement.

And it’s possible to have enough money. A little savings, a little effort, and the magic of compound interest can make that trip to Venice for a milestone birthday happen—even while the kids are in school.

I’ll tell you more about getting started in this video. But first, a pop quiz:

How much do you need to invest each month to be a millionaire at age 65?

For the answer and much more: watch.

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