Millennial Advice for Starting a Portfolio During Coronavirus
Haven't started investing? But considering it because you're financially able to?
Well, if you're able to and looking to start a portfolio, now actually may be a good time. Obviously, it depends on your personal financial situation, but if you're looking to put that $1,200 stimulus check to work instead of just putting it into a savings account, Sallie Krawcheck, CEO of Ellevest, thinks that--depending on your financial situation--now may be a good time
"Yeah, I think it really depends on individual circumstances. For some people, they're going to need that to pay their bills, they just are, and so that goes to that. For some people who haven't built a three to six-month emergency fund, now you're realizing that, oh, this is why we do that. For some people it's going to be paying off credit card debt. I'm always surprised, frankly, by how many people who you think, boy, he or she has got it together. They're investing, they've got a great job, and then you find out they have X amount of money in credit card debt, and so for some people, it's going to be that and it's really taking those things in order. Do I wish everybody would take it and invest? Sure. But everyone doesn't have the luxury of that," Sallie Krawcheck, CEO of Ellevest, told TheStreet in an interview earlier this month.
Jim Cramer is off Friday morning, so Zev Fima, senior portfolio analyst with Action Alerts PLUS joined TheStreet to discuss some key points of advice for anyone--especially millennials--who are interested in starting a portfolio.
Watch the full video above for more.
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