Name: Brandt Kuhn
Job Title: CFP, Managing Director and Partner in Beacon Pointe Wealth Advisors Invest in Your Future
The idea of investing may sound daunting. Where do you start? How much money do you need to make worthwhile investments? It turns out, not much! Brandt Kuhn, CFP, managing director and partner in Beacon Pointe Wealth Advisors of Palm Desert, steps in to offer up his tips for investing with only $1,000. That’s right—1k! Kuhn and the Beacon Pointe team are here to help you get started and plan for a profitable future.
“Check with your employer to see if they offer a 401K or other retirement plan for which they match your contributions.”—Brandt Kuhn
Kuhn advises, “Check with your employer to see if they offer a 401K or other retirement plan for which they match your contributions. This is the best way to grow your money. If it’s a dollar-for-dollar employer contribution, that’s a 100% return on your money.”
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Invest some after-tax earnings in a Roth IRA. This will allow your money to grow tax-free. There are some stipulations regarding your income level, yearly contribution limits, age requirements and duration of the investment, but if these are met, anything you withdraw is completely tax-free.
“Before you invest, pay down your debt.”—Brandt Kuhn
Kuhn advises, “Before you invest, pay down your debt.” This will reduce your financial liability and has basically the same positive effect on your net worth as making investments.
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If you have children and want to invest for their college education, look into a 529 plan. This is specific to education. The funds grow tax-free, and when they are used to pay for education, the disbursement is tax-free as well.
Classes, training programs or other educational opportunities can be very valuable. You can improve upon, or add to, your set of skills. This can make you more productive, a more valuable asset in the workplace and can also help you feel better about yourself.
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“Anyone can do this,” says Kuhn. “There are all sorts of platforms, such as Schwab, Fidelity, Betterment and Vanguard. Any of these allow you to invest in the equity markets or the bond markets, even if you only have a thousand dollars.”
Beacon Pointe Wealth Advisors
73833 El Paseo Dr
Palm Desert, CA 92260
760.237.8970