When you’re just starting out on the investing world, you’ve likely heard a lot of what I have:
I recently sat down with InvestorPlace expert Bryan Perry, though, who explained that it’s really never too early to start stashing some cash in income stocks.
Perry, who spent more than 20 years working as a financial adviser for major Wall Street firms and is now the editor of Cash Machine — a service dedicated to crafting a portfolio set to pay a reliable stream of income even during the worst of times — firmly believes that young investors should start building a “war chest of safe money” as soon as possible.
Not only will it serve them well when they finally reach retirement, but it’s the perfect building block of any investment pyramid. As Perry put it: ”Everybody’s going to hit storms, and there will always be market corrections.” So sure, it’s important to take the risk on as a young person since you have time on your side, but income is a great place to build a base for later on.
Check out the full interview above to learn about the basics of income stocks, what Perry wished he had known when just starting out and more.
Like what you see? Sign up for our Young Investors e-letter and get practical investing advice delivered to your inbox every week!