WallStreetBets’ Jaime Rogozinski Makes a Case for Avoiding ‘Boring’ Investments

I recently had the opportunity to chat with one of GOBankingRates’ Money’s Most Influential, Jaime Rogozinski, who is the founder WallStreetBets, an online community well known in the finance world. WallStreetBets racked up over 800,000 subscribers and 3 million-plus monthly unique visitors in 2019 alone.

I was fortunate enough to get his exclusive insights on what he thinks everyone needs to know about investing and what investors should avoid.

Check Out: The Top 100 Financial Experts of 2022
The Most Influential Money Experts: Where We Get Our Money Advice

What do most people not know about investing that you wish they knew?

Most people that want to take control of their own investments probably know more than they need to know already. What most people are missing is hands-on experience to know what that knowledge feels like when it’s applied. It’s conquering these very feelings (and emotions) that defines success.

Check Out: GOBankingRates’ Top 100 Money Experts
More Advice: Mark Cuban on the Importance of Doing Your Investing Homework

Building Wealth

What should everyone be doing to build their wealth, no matter how much money they currently have?

Stop trying and just do it. People already know what they have to do but end up maxing out their credit cards anyways.

It’s not the lack of knowledge that’s stopping people.

What should investors be focusing on in 2022 to make the most of their money?

If you’re actually investing, and not gambling like most of us, then you shouldn’t be focused on 2022 or 2023 or even 2030.

What investments should they avoid?

If people are new they should avoid the boring ones — they should focus on high beta stocks, which will take them on a roller coaster ride. [This] helps get their emotions in check, and [they] can move on to the stage where they become rational again. The actual ROI — whether positive or negative — for these “investments” is irrelevant; [it’s] mostly noise.

If they’re experienced, then they shouldn’t be stock-picking and instead, settle for some boring, good old-fashioned index funds with moderate dividends, packed with fancy words like “compounding” and “diversified.”

Gabrielle Olya contributed to the reporting for this article.

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About the Author

With eight years of experience working in the personal finance space at GOBankingRates, Jaime Catmull has amassed an extensive network of financial influencers and experts. Now, she’s tapping that network to get the real scoop on how you can live your best financial life and increase your wealth.
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