How to make 2020 the year you start building wealth

That's because longer time horizons give you years of compounding returns from stocks. It also means you're better prepared to stomach short-term market volatility.

"You can withstand that drop in market value because you won't need to sell those investments," said Westley.On that day, the S&P 500 closed at 676.53. Investors who were able to stay in the game have enjoyed a decade-long bull market since then, including record highs in 2019.Kick off your own due diligence as you decide which investments to buy.

Rather than focusing on one or two stocks, consider having broad market exposure through an index fund. "It could be a fund that invests in the entire market, so that you don't have to make too many decisions," said Westley. "You'll still capture market returns over time."informative booklets with everything you need to know about your investment's fees and objectives.

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Here's how to finally start investing in 2020Only half of Americans invest in the stock market, despite it being one of the best ways to build wealth. For many, it's too overwhelming. But financial planners say it doesn't have to be. Here's how first-time investors can get started today.
Source: CNBC - 🏆 12. / 72 Read more »