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What should I look for when choosing investments?
FEATURED EXPERT:
Carmen Perez
Founder and CEO of the budgeting app Much
I encourage folks to get into exchange-traded funds (aka ETFs) or index funds, which allow you to invest in a lot of stocks, bonds, and other assets at once vs. committing to just one. But if you're looking for an individual stock, I would say, some questions to ask yourself are: Are you familiar with the company? What’s their share price, and where has it been for the past year? Are you familiar with the sector and the news around that particular sector? Look at your investment as you being a stakeholder in that company. Are you excited about this company? How are the returns? Do you have faith that the stock will continue to go up? Do you understand the leadership and more importantly, just the sector and the news around it? If you are looking to invest in single stocks, don't go on the hype. Familiarize yourself with the industry, the industry news around that company, and what its future looks like in the next five to 10 years.
This interview has been edited and condensed for clarity. You can read an extended version here.
money win
An inside look at how women are building wealth.
“Recently, I've had several car repairs and general tune-ups arise, so I took advantage of my repair shop's VIP discount. For $300 a year, I get oil changes, air filter and windshield wiper replacements, wheel alignments, towing services, and more. Plus, I save 10% on all repairs. I also ask for a discount if I pay in cash. So far, I've saved hundreds of dollars!”
— Sharon R (NY). Like Lana Del Rey says, don’t break me down. Being proactive on repairs is smart (and so is asking for a cash discount).
Scored a raise, saved up for a big purchase, or reached another money goal? Tell us about it here. Quotes are edited and condensed for clarity.
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investment piece
The items celebs and influencers think are worth the big bucks.
As an entrepreneur, television host, and mom, Elizabeth Chambers is used to juggling multiple commitments. Case in point: She runs her popular BIRD Bakery across multiple locations, spanning Texas, Colorado, and the Cayman Islands. How does she find the time? Below, she explains the timeless appeal of a classic timepiece. Plus, the potential returns of investing in them.
Tell us about an investment purchase you've made.
My preferred personal investment piece happens to be watches. Men’s Rolexes in particular. I don’t wear them every day, but I learned (the hard way) at a fairly young age just how much they appreciate. My first Rolex was an Air-King when I was 25. It was gifted to me after I signed a contract for a show I was hosting — a job I had wanted for a long time — and the timepiece was meaningful for many reasons. A couple of years later, the watch was stolen from my locked hotel safe in London. I was understandably upset and scoured local pawn shops. During that process, I realized just how much the timepiece had appreciated over the past four years. I also learned the importance of insuring watches.
What’s the most recent watch you bought, and how much did you spend on it?
A Rolex Cosmograph Daytona. $18,000.
Why do you consider watches a good investment?
I may not be deep diving or flying planes while wearing any of these watches, but there’s something inherently purposeful and romantic about the history of them. For me personally, a men’s Rolex, Patek, Breitling, or Cartier watch, will be the gift I give my children for milestones and will be the high-end investment I continue to focus on for myself. While others invest in bags and statement jewelry, there’s something more nostalgic and perpetual for me about a watch.
Answers are edited and condensed for clarity.
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