Rosecliff founder and managing partner Mike Murphy advises investors to start investing now instead of waiting for the next recession. He shares his five steps to getting started in FOX Business' Financial 101 Planning series.
If you're thinking about investing, there is no time like the present, advises Rosecliff founder and managing partner Mike Murphy. "Recessions come and recessions go, people need to look for opportunities to invest and not try to time the next recession" he told FOX Business' Stuart Varney. Here's his five steps to getting started in FOX Business' Financial 101 Planning series. Get at it. There is no need to monitor the markets.
Decide what your goals are: long-term, short-term or retirement. Then decide how much you can allocate each month or quarter and start investing. INFLATION RISES FOR A THIRD STRAIGHT MONTH THE MAGIC NUMBER TO RETIRE Murphy recommends low-cost exchange-traded funds that hold a basket of stocks for broader exposure. A good option, he noted, is the SPDR S&P 500 ETF trust, which mirrors the S&P 500, the broadest measure of the U.S. stock market.
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