
Here's Why You Should Invest In Mutual Funds Instead of Stocks |…

Rach's Crush 50 Cent + Shepherd's Pie with a Texas Spin

Rach's Beef & Broccoli + 3 Ways to Use Up Sliced Bread Before It…

Slow Cooker Spaghetti and Meatballs + More Budget-Friendly Freez…

3-Ingredient Energy Protein Bites + Dr. Li's Tips to Live Longer…

Bob Harper Gives Tour of New "Moody" NYC Apartment—And His Black…

This Adorable German Shephard's Smile Went Viral on TikTok

Mom of 3 on a Mission to Empower Children After Her Own Difficul…

How to Make Everything Pigs in Crescent Roll Blankets with Chedd…

How to Make Tangy BBQ Chicken Grain Bowls for Picky Eaters | Kel…

Kelsey Nixon Helps Mom of 5 Organize Her Cluttered Kitchen

New Deals! Handheld Vacuum, Blowout Brush + More—Between 45% + 6…

YOU Can Virtually Redesign Rachael's Studio Kitchen—for a Limite…

How to Make Savory French Toast with Strawberries and Basil and …

A Tour of Rach's Italian Villa + Rach's Classic Chicken Cacciato…

"Shark" Barbara Corcoran's Best Business Advice + Rach's Chicken…

How to Make Coconut Milk-Marinated Shrimp & Pineapple Skewers | …

How to Make Baby Back Ribs with Sweet Tea Barbecue Sauce

A Southern Pro Shows You How to Grill Filet, Ribeye + NY Strip S…

How to Make Creamy Grilled Corn Salad Served in Grilled Portobel…
When we have financial experts on our show, it's always a good reminder that you can’t ignore your finances (tempting, we know).
Financial expert Anthony ONeal recommends taking a building-block approach to managing your money. It's all about starting at the bottom and working your way up. So while you should ideally try to invest in the stock market as early as possible, don't do it until you are debt-free, he says.
Once you're out of debt and you've paid off your mortgage, then you can start talking about investing in the stock market.
RELATED: 6 Tips on Saving for Retirement at Any Age
"I want to make sure everyone knows that we need to seek professional financial help from experts in this field," Anthony says. "You do not want to get into the stock market by yourself."
WHAT'S THE DIFFERENCE BETWEEN STOCKS AND MUTUAL FUNDS?
You've probably heard the expression "never put all of your eggs in one basket." This applies to money, too. That's why Anthony recommends looking into growth stock mutual funds, with the help of a professional.
Anthony recommends investing in mutual funds because they are low-risk stocks that grow over time. With a growth stock mutual fund, you buy into a fund made up of several stocks. This means your income is diversified, he explains.
With single stocks, you're investing in one company and putting all your eggs in one basket. If that company fails, your nest egg goes with it.
Mutual funds, on the other hand, allow you to invest in many companies at once — from the largest and most stable, to the new and fast-growing. Your money is diversified, meaning it's spread out across different kinds of investments. Some will go up and some may go down, but if one of the markets you've invested in does go south, your overall risk of taking a big financial hit is greatly reduced.
"It's safe, and you're still going to grow a lot of money from that," Anthony says.