86: Choosing the Right Investment Type for Your Goals with David Stein

David Stein reached out to us after Erin Lowry’s Episode 81, where we talked about the basics of investing. He really liked that episode, and wanted to dive a little further into the different TYPES of investments you can choose from. In this episode, we explore asset classes we haven’t really discussed before: Closed End Mutual Funds, REITs, Mortgage REITs, and the different types of stock you can buy. (Yes, there is more than one!) We even touch on Gold and Cryptocurrency!  Investing isn’t limited to stocks, bonds and real estate, and David introduces these ideas so you can start investigating the asset classes that appeal to you and works best for your financial goals. David also shares his Investing Principles and his top tip is so simple, yet such an EXCELLENT piece of advice: Be able to describe in detail what you are investing in. If you can’t, you’re not ready to invest in that just yet. If you’re looking for different asset classes, better returns or even just to diversify your portfolio, this episode is a must-listen! In This Episode We Cover:David's money journeyLaunched businesses at the very young ageStudied and liked the aspect of financeHis approached to money throughout his careerWhat prompts him the decision to retireOn the "Money For The Rest of Us"The investment principles that he teachOn the tradingDisadvantages of buying individual stocksThe difference between investment, speculation and gamblingIndividual stocks versus index fundsAny circumstances that would make people buy an individual stockThe reason why he start the podcastClosed-End Mutual FundsBondsOn real estate investment trustHow he select reitsPrivate reits versus public reitsOn preferred stockBuying preferred stock versus common stockWhat a mortgage reit isOn bitcoinWhat makes bitcoin speculation rather than a gambleAnd SO much more!