It’s easy to get swept up in the frenzy of work and school, forgetting how important it is to live life. So why not remind yourself with some advice from Dr. Jordan Sudberg? He has some investment tips that might help you stay on top of things without breaking in the process.
According to Dr. Sudberg, there are three things that people should keep in mind when considering their investments:
What do they want to do with their money?
How much they can afford it.
When they need the money.
These three factors will determine whether an investor wants a low-risk strategy or if the person needs a high-risk/high return investment plan (leveraging a down market).
Investment tips for living by, according to pain management specialist Dr. Sudberg. There are many ways to invest your money, but the three most common methods are stocks, bonds, and mutual funds. All three of these investments have different risk levels and rewards.
Business Insider provides an example of a person who invests $10,000 in one of the three options: the stock market, bond market, and mutual fund. For four years, their investment results were as follows: their $10k in the stock market turned into $12k; their $10k in bonds turned into $7k, and their $10k in mutual funds turned into $13k (less than all other investments). It is because stocks are considered very high risk; however, they also have the highest reward. Bonds don’t risk much, but their rewards aren’t nearly as great as stocks. Mutual funds have more risk than bonds but fewer stocks and higher returns. So in this example, the “high-risk/high return” investment plan paid off and paid off more than the other, making it seem like a good choice for all three investments.
Overall, Dr. Sudberg’s advice to investors is that they should invest in the stock market (for the high reward and low risk). Overall, his tips are helpful for people who want to start investing. However, some tips describe general investment principles rather than specific investment strategies.
However, Dr. Jordan Sudberg does give specific advice about how to invest for different situations in an e-book The Wise Investment Guide: Your Wealth Plan For A Safer Tomorrow. The book outlines all three of these basic strategies and has a couple more sections added. The three strategies that Dr. Sudberg lays out pre-college investing, college saving and retirement saving.
For each of these strategies, Dr. Sudberg gives example investments to be made under each one. For example, the pre-college investing chapter is laid out as follows:
In this section, Dr. Sudberg describes when an individual should start investing (he says to start young because compound interest is the best investment strategy). He details how much money one should save for college and where that money should go (into low-risk investments). He recommends a Balanced Index Fund as the best place for money to grow while it goes from a child’s savings account into college funds.