Larry Straub, a professor at Newman University, shares insights on investing in this podcast episode. He talks about his experience as a business executive and CFO of a family business, which was sold in 2019. Larry has also been an adjunct professor for many years before transitioning to full-time teaching at Newman University.
He emphasizes the importance of investing for young people, explaining that it's not just about earning money but also about managing and growing what you save. Larry advises listeners to stay informed about finance and investing through resources like radio, websites, and podcasts.
He discusses different investment strategies, highlighting the importance of understanding your comfort with risk. While some prefer safer investments like CDs, younger individuals can often afford more aggressive strategies due to their longer time horizon.
Larry cautions against trying to pick individual stocks, suggesting diversified portfolios managed by professionals or using platforms like Robinhood for DIY investing.
Regarding cryptocurrencies, he views them more as investment vehicles than currencies and suggests caution due to their speculative nature.
For those starting out with limited funds, Larry encourages consistent saving and taking advantage of employer matches in retirement accounts. He believes starting early with investments can significantly grow wealth over time.
Lastly, Larry advises against financial decisions driven by social media pressures and emphasizes the importance of planning for long-term financial goals.
Overall, Larry Straub's insights provide a practical guide for beginners interested in investing wisely for their future.