86: Choosing the Right Investment Type for Your Goals with David Stein | Bigger Pockets Podcast
David Stein reached out to us after Erin Lowry’s Episode 81, where we talked about the basics of investing. He really liked that episode, and wanted to dive a little further into the different TYPES of investments you can choose from.
In this episode, we explore asset classes we haven’t really discussed before: Closed End Mutual Funds, REITs, Mortgage REITs, and the different types of stock you can buy. (Yes, there is more than one!) We even touch on Gold and Cryptocurrency!
Investing isn’t limited to stocks, bonds and real estate, and David introduces these ideas so you can start investigating the asset classes that appeal to you and works best for your financial goals.
David also shares his Investing Principles and his top tip is so simple, yet such an EXCELLENT piece of advice: Be able to describe in detail what you are investing in. If you can’t, you’re not ready to invest in that just yet.
If you’re looking for different asset classes, better returns or even just to diversify your portfolio, this episode is a must-listen!
In This Episode We Cover:
David's money journey
Launched businesses at the very young age
Studied and liked the aspect of finance
His approached to money throughout his career
What prompts him the decision to retire
On the "Money For The Rest of Us"
The investment principles that he teach
On the trading
Disadvantages of buying individual stocks
The difference between investment, speculation and gambling
Individual stocks versus index funds
Any circumstances that would make people buy an individual stock
The reason why he start the podcast
Closed-End Mutual Funds
Bonds
On real estate investment trust
How he select reits
Private reits versus public reits
On preferred stock
Buying preferred stock versus common stock
What a mortgage reit is
On bitcoin
What makes bitcoin speculation rather than a gamble
And SO much more!
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