Name: What are the 7 best investment choices for frugal people?
Uploaded: 2024-10-04T04:00:00+00:00
Duration: 19 min 8 s
Description: Are you careful with your money but want to start investing? In this episode of The Ask Ralph Show, Ralph Estep Jr. answers the question: What Are the 7 Best Investment Choices for Frugal People? Ralp

1 year ago

Podcasts Faith and Religion

Are you careful with your money but want to start investing? In this episode of The Ask Ralph Show, Ralph Estep Jr. answers the question: What Are the 7 Best Investment Choices for Frugal People? Ralph shares practical advice on how to grow your wealth without compromising your frugal nature. From index funds to high-yield savings accounts, this episode will help you make smart, low-risk investments that align with your financial goals. Tune in to discover how being frugal and investing wisely can go hand in hand.

https://www.askralphpodcast.com/choices-for-frugal-people/

Episode Timestamps:
00:00 Episode Overview
01:10 Listener’s Question: Hillary’s Dilemma About Investing as a Frugal Person
02:45 Bible Verse: Matthew 25:14-30 – The Parable of the Talents
04:27 Real-Life Story: Tom’s Journey from Fearful Saver to Confident Investor
06:31 The 7 Best Investment Choices for Frugal People
06:58 #1 Low-Cost Index Funds
07:44 #2 Exchange-Traded Funds (ETFs)
08:14 #3 High-Yield Savings Accounts
08:53 #4 Certificates of Deposit (CDs)
09:35 #5 U.S. Treasury Securities
10:10 #6 Dividend Reinvestment Plans (DRIPs)
10:42 #7 Robo-Advisors
13:13 Takeaway to Start Your Investment Journey #1 Your Frugal Mindset Can Make You a Great Investor
13:23 #2 Start with Low-Cost Index Funds or ETFs
13:37 #3 Don't Neglect The Power of High-Yield Savings Accounts and CDs
14:00 #4 Consider the U.S. Treasury Securities
14:23 #5 Look Into Dividend Reinvestment Plans
14:44 #6 Consider a Low-Cost Robo-Advisor
14:53 #7 Investing is About the Long Game
15:24 Conclusion