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Financial expert Tori Dunlap believes people who start investing today will become millionaires. Read on to find out why.
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Many people are feeling the financial effects of high inflation and interest rates. You might be wondering, with all of this uncertainty, is it really a good time to start investing? According to Tori Dunlap, a financial expert and founder of Her First $100K, the answer is yes. In fact, she believes that now is one of the best times to start investing, according to a recent podcast episode. Here’s why.
Stocks are on sale
One reason why now is a great time to start investing is that stocks are on sale. Due to high interest rates and the slowdown in the economy, the stock market has experienced several lows and dips, causing the prices of many stocks to plummet.
According to Dunlap, this presents an excellent opportunity for new investors, as they can purchase stocks at lower prices. Tori Dunlap uses the analogy of a coat to illustrate why now is a good time to invest. If a coat is originally priced at $100, but then goes on sale for $50, it’s a good time to buy.
The same principle applies to investing — if a stock is valued at $100, but is now trading for $50, it presents an opportunity to invest at a lower price. This is a great way to get started with investing, as you don’t need a significant amount of capital to begin.
Millionaires will be made right now
Many successful investors, such as Warren Buffett, have made their fortunes by investing during economic downturns. These investors recognized that stock prices were low and were not indicative of the underlying value of these companies, and they invested accordingly.
Tori Dunlap encourages new investors to adopt this same perspective, as those who invest during these times have the potential to make significant gains in the long term. Investing is a long-term game, and it requires patience.
While it’s true that the stock market can be volatile in the short term, over the long term, it tends to go up. Investors who have held onto their assets for a long time have often ended up millionaires, and now is a great time to start playing the long game.
Dollar-cost averaging
For those looking to dip their toes into the world of investing, Dunlap suggests using the dollar-cost averaging method. If you’re unfamiliar with the term, it simply means investing a fixed amount of money on a regular basis (such as weekly or monthly).
While it may be tempting to wait for the “perfect” time to invest, Dunlap recommends focusing on the long-term outlook and not getting bogged down by short-term fluctuations. By investing consistently over time, regardless of market performance, you can potentially lower the overall cost of your investments.
In other words, don’t try to time the market — simply get in and ride whatever wave is coming. With this optimistic and practical approach, it’s never too early (or too late) to start investing and build a stronger financial future.
Dunlap states that now is an excellent time to start investing. Despite the uncertainty and volatility of the current economic climate, investing during these times presents a great opportunity for long-term growth and potential for significant gains. By investing with a long-term perspective, being patient, and taking advantage of lower prices, new investors can start building their wealth and securing their financial future.
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