So 2024 is literally right around the corner, we have days left for the new year to actually start. So I’m making this video, for the folks that want to use 2024 for investing; so in this video, I’ll share with you guys a simple guide to investing.

I’ll tell you what I’ll be investing into, the brokerage I use, and how I plan to start taking money out of my investments.

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1. First of all
I have some basic requirements before you start considering investing
These requirements may seem tedious but they are the truth and they will increase your potential for success

First: Be debt free Expect the mortgage
Second: have a fully funded emergency account for a minimum of at least 3 months and as high as 12 months usually should be enough


2. What broker and why
You don’t want the most popular broker or the one you see in every ad
You want the biggest one, that’s been around for a long time and has an amazing reputation
You want to forget about the gimmicks and focus on the important stuff

Here is the broker I use and I recommend:
I use Vanguard, they basically invented the index fund
They are known for having very low fees, and amazing customer service
They have been around for over 100 years and it is literally one of the biggest brokers in America

Tip: I want to invest with a broker that’s so big and so well known and with good reputation, that if they go down, it's such a crazy idea

3. What investment and why
I used to invest in a lot of things
Individual stocks at first
Then a bunch of different index fund
And now I must into 1 single index fund and that’s it

What is that investment?
I have 100% of all my investing money into the S&P 500
That includes into normal taxablr portfolios and also into retirement accounts
I have 401k and a roth 401k and I only invest into the s&p with them too

Why that only investment ( 6 reasons )
Historic return: its made a good return of little over 10% and has outperformed bonds
Compared to other investments: less risky, less work, and good return
Risk of default: I lose all money if America burns and if we burn most likely everyone else burns too
Personal bias ( US is our country ) where are you moer likely to keep your money invested, in a country know or a country you don’t
Fees: index funds are super low relative to mutual funds and trading stocks, and even lower when you only have one to invest into
Evidence: read a book called “A Walk Down Wallstreet” and listen to Warren Buffet recommendations to regular investors


4. When to take out money, how much and why
Investors use the 4% rule for investing
It basically means you take 4% of the amount of money inside your portfolio
The reason is that this way you’re portfolio can continue to grow and you don’t have to worry as much about running out of money


5. Year of 2024 plan
Maintain, if possible, an investment rate of 20% of my income
In this case that would be towards my savings account not stocks
I’ve made enough in stocks and my main worry now is cash flow in case of lost of income

So basically:
Stocks pay me enough to cover my expenses
Now I want real estate to do the same
To that I need to roughly invest 240k ( about 4 properties )
If everything goes well, it should take me about 710 years to accomplish ( I’ll be in my late 30s almost )

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*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.