Here’s Why Motley Fool Money’s Chris Hill Says To ‘Go Big’ When It Comes to Investing in 2023
Chris Hill is the host of the “Motley Fool Money” and “MarketFoolery” podcasts. He also writes for the money-advice platform The Motley Fool.
Recognized by GOBankingRates as a Top Money Expert, here, he provides advice on investing and the necessary risks to take in order to succeed in today’s economy.
Want to vote for Chris as your favorite money expert? Click here and go to his expert page.
What do most people not know about investing that you wish they knew?
Patience and temperament have much more to do with succeeding at investing than your math skills.
What should everyone be doing to build their wealth, no matter how much money they currently have?
Find a way to put money towards your investments every month. If you have a 401(k) plan, max it out. If you don’t, set a schedule of putting even just a few dollars into an investment account every month. Your future self will be so grateful.
Check Out: 9 Safe Investments With the Highest Returns
What should investors be focusing on in 2023 to make the most of their money?
Go big! (i.e., Invest in large, profitable companies.) 2023 is proving to be a better environment for big businesses than smaller ones. If you don’t already own shares of companies with a market cap over $100 billion, this would be a good time to start.
What investments should they avoid?
Avoid investing in any business you can’t explain to a friend. The more you understand the business, the better you’ll be able to evaluate how it’s doing. (And the better you’ll sleep at night.)
More From GOBankingRates
- Why Stealth Wealth Is the Best Way To Handle Your Money
- Vote for Your Favorite: GOBankingRates' Top 100 Most Influential Money Experts
- 3 Ways to Recession Proof Your Retirement
- 7 Things You Must Do To Create a Plan for Your Money
Jaime Catmull contributed to the reporting for this article.