Rule#1: Goal-based investment planning | Retirement planning example | Investing for beginners

Start saving early. Learn how to save money first; then learn how to invest. We’ll use risk-free strategies to accumulate savings in this episode, and then introduce stock market risk in the next.
In this second episode, we’ll look at: When should you be saving? How should you be saving? and, Where should you be investing—so that your savings grow faster than inflation, and meet all your goals?
You’ll learn why your savings rate is more important than rate-of-return. Then I’ll show you risk-free ways of reaching your goals. And finally, some time-proven secrets to saving — including paying yourself first with automatic saving. Use these links to rewatch any chapter:
0:00 Use goal-based investment planning
1:21 Step 1: Start simple
2:12 Step 2: Improve the cost estimates
2:52 Step 3: Prioritize by needs, wants, wishes
3:10 Step 4: Match each goal with investment risk
3:29 The big financial risks ahead
3:45 Example step 1: Simple goal, date, cost
4:17 Example step 2: Estimate savings required
7:38 Example step 3: Separate essential needs
8:20 Example step 4: Compare three strategies
13:50 Summary: How to make a workable plan

▼The Ten Rules of Common Sense Investing is a series to teach investing for beginners:
✅ Rule #1: Develop a workable plan    • Rule#1: Goal-based investment planning | R...  
✅ Rule #2: Start saving money early    • Rule#2: Start saving early | How to save m...  
✅ Rule #3: Control stock market risk exposure    • Rule#3: Control stock market risk exposure...  
✅ Rule #4: Diversify stocks    • Rule #4: Diversify stocks! | Investing for...  
✅ Rule #5: Never try to time the market    • Rule #5: Never try to time the market | In...  
✅ Rule #6: Use index funds when possible    • Rule #6: Use index funds when possible | I...  
✅ Rule #7: Keep costs low    • Rule #7: Keep costs low | Investing for be...  
✅ Rule #8: Minimize taxes    • Rule #8: Minimize taxes with IRAs, Roth IR...  
✅ Rule #9: Keep it simple    • Investing Rule #9: Keep it Simple  | Inves...  
✅ Rule #10: Stay the course    • Investing Rule #10: Stay the course  | Inv...  

These are also endearingly called the Bogleheads Investment Philosophy. I call them the Ten Rules of Common Sense Investing as a nod to my favorite book by John C. Bogle.

▼Other helpful playlists:  
✅ Bond Basics    • Bond Basics 1: What is a Money Market Fund?  
✅ Why Bother With Bonds    • Bond Basics 6: Asset allocation for beginn...  

▼Articles and Courses:
Smart Investing for Beginners — complete guide at https://financinglife.org/smart-inves...
Rule#1: Goal-based investment planning — transcript at https://financinglife.org/learn-how-t...
Both free and small-fee courses at https://academy.financinglife.org