Welcome to the tweet trends podcast. Hey, what's trending today? Hey, I mean, hey girl And you are tuned in to be trans is the quickest way to find out what's trending today Today I want to talk about investing. Let's get started.
So let me start by saying this. I don't know what your particular investing Level is it how much knowledge you have about investing? Do you put that off or somebody else to do and you just give them a thumbs up when the numbers are looking good? Or is that something you've just kind of shied away from I've been like, I know that's not for me too much like gambling I I don't go to Vegas and I don't play the stock market, you know I'm not sure where you fall in that range But personally I have been intrigued by the stock market forever because you know as a math person I see the numbers and I'm excited.
It's like, oh man, this is my thing numbers. Yes negatives You know, they even simplified enough down to greens and reds like okay, this green is good It is red is bad, you know, even though it's not that simple. There's a lot to it But either way I've still been drawn to it to the point that the other day while watching television I saw an advertisement on CNBC for joining an investment club with Jim Kramer and I went ahead and logged in and signed myself up signed me and my husband up and Today was the first little installment of this particular Investment club session because it sounds like the investment club has been going on for quite some time But this new introduction and the new opening of the door for people to join the investment club It's been advertised pretty heavily on television So, you know, I went ahead and said, you know what? Let's do this because we even set aside money to invest with and everything and just kind of been sitting on it like an egg Wait, no, no, no catch and you know what it's not gonna do anything until we do something with it, right?
so we actually pull the trigger today we push the button we got in on the game in the stock market and We're really excited about it. I have to say that because you it's no guarantees It's like, okay, what you don't do you don't watch it all day It's not like a baby and you're sitting there like is it still breathing? How's it doing? Oh my gosh?
It's not doing anything. It's just laying there sleeping. You know, it's kind of the same thing. You can't sit there and watch it kind of like a pot.
You want the water to boil, do not stay in the kitchen, go away for two seconds. I mean, you come back, I guarantee you that water will be burning hot. You're like, oh my gosh, I was only gone away. I was only gone for two seconds.
But anyway, I've gone completely off track. But like I said, I want to talk about investing today and go for some of those tricky little things about it that maybe you've been asking and just didn't know the right person to talk to about it. So let's dive in a little deeper. I have to share this with you before I get into these questions.
Knowing that I'm talking about investing, I was doing a little research online and I ran across a free webinar. And now I've been to a gazillion of these things and they give you a few little gems here and there. They kind of sprinkle it around, give you just enough to make you interested. And then at the end, the call to action is, now give me a thousand dollars and join my group.
And I'm going to walk you through the process by hand. And you know what, none of the ideas to me at this point have ever been anything so earth-shattering that I'm like, oh yeah, I've got to throw my money at you. So you can show me what I need to do. No, that information is out here somewhere.
I just got to figure out where it is. So the particular webinar was an investing webinar for women. And as the more I read, the more I realized, so this webinar is not really going to give me any information about investing. It's going to actually give me information about having a better relationship with money.
So it went on to say, you know, if you can't handle managing a thousand dollars, you're not going to be able to manage ten thousand. And if you can't manage ten thousand, you're not going to be able to manage a hundred thousand or any denomination greater than that. And I felt some type of way about that because I'm like, you know what, so these people are trying to say that women don't know how to handle money and I beg to differ. I don't think that's the case.
I think that women are very good at handling money. There are many of us out here that run the finances for our households, especially military spouses, you know, because what happens if our husbands are away out to see or whatever, they can't pay the bills. They can't do any of the other financial stuff. So we're the ones that end up doing that.
I believe that women are very good at handling money. Now, there may be an age group, a certain range so that they may have issues because their sites are set different than others. But I think if you are like a grown A woman, you know how to handle your coin. If you're younger, then you might be a little flippant with it and you kind of toss it here and there.
But seriously, if you have a family, if you have people that are depending on you, you know how to make a dollar out of fifteen cents. You hear me? So anyway, that really rubbed me the wrong way when I saw that. I was like, oh, this might be something.
Oh, then again, no. Nothing's. X. Move on.
Okay, so that was it. I just had to kind of throw that in there because I was so blown away by that I was very insulted. All right, so on to the questions. Now, there are some people out there, kind of like me, where you're antsy about it.
You really want to do something, but you're not sure because you don't want to lose your money. And so first and foremost, if you do not have an emergency fund, do not consider jumping into socks and all that good stuff. Get your emergency fund in place and ready and available for you because the idea is if you start investing this money that's actually supposed to be there in the case of an emergency, you're not going to have access to it immediately. And in most cases, when the car breaks down and stuff like that, the guy at the dealership or at the auto body place, they don't want to hear that it's going to take you a minute to get that money.
They want it now, probably to buy the parts and then more later to say, okay, and this is the labor charge. So you don't want to jump in there if you don't have it. But if you have a little, why not? So then second step would be if you have a 401k, go that route, contribute to that because it's already an investment and it's already working for you.
So why not find out what the maximum contribution is that you can make? Do that and then see what you have leftover. And saying that just now made me think about Lou Hutt. It's kind of like, you know, he always says, gosh, now I can't remember.
It's like, make more money, save more money, and then invest the difference. And I know I probably completely chewed that up. But it's like, make more, save more, invest the difference. And I've seen that in a number of places, so it's not anything that's specific to Lou, but it's a good idea, a good way to go about making an investment.
You know, if you have extra money, then you can play around with extra money. But you may look at investing kind of like going to Vegas. And when you think about the stock market, technically that's kind of like how it is. It can be a very volatile environment.
You never know what's going to do well and what's not going to do well. And then think about how we had COVID happen and things that depended on people going places and doing things. Then they began to suffer because nobody was going anywhere, nobody was doing anything. So you never know, so you never want to put money that you know you're going to need into something like this because you never know if you're going to keep it or if it's going to go away or it may not go away completely.
But the amount may drop drastically and then you have to come up with a plan D or C or D or a plan Z depending on how bad the situation is. You're going to have to go find something else each time. So if you have a little bit to invest in, you know, that's perfectly fine. Go for it.
Why not? And then as far as being nervous, that's a good feeling. You should feel nervous because like I said, there's nothing guaranteed in stocks. But why not give it a try?
So here's my ask. Come up with a stock that's like kid-friendly. I'm going to do Disney with my daughter and we're going to track it as a family. We're going to look at it and see what it's doing and how it's doing.
But we're also going to put a little money in there too so that we're actually following our money because I don't want her to be like me. I don't want her to be like my age trying to figure this out. I want her to have it already figured out and then hey, mommy, can we pick something else? Can we pick some more stuff?
You know, that's what I'm looking for. So if you have little people in your life, that's my challenge to you. Come up with a stock to follow, put a little bit of money into it and just see where it goes. Thank you so much for joining me on today's episode.
And if you are curious about investing, come on, jump on in the water. It's fine. But make sure you got all your plans in place. If you don't have that emergency fund, get the emergency fund first before you decide to have some fun investing, whether it is in real estate, the stock market, whatever.
Make sure that you have your butt covered first. Then remember 401k, if you've got one of those, get on that next. And then any little bits that you have laying around afterwards, use that with the little people in your life and actually get a little learning process going where you are following it and tracking it and showing them what can be so that when they get a little bit more money, they might decide to do the same thing and be well versed in it versus trying to figure it out. Grown and old and all that good stuff.
Okay. Thank you again. Check me out. Twitter, Instagram, YouTube, Facebook at hayevette.
That's at h-y-v-e-t-t-e or just look for the hashtag tweet trends. Alright guys, have a great weekend and I will see you back here again on Tuesday.