{"id":27661,"date":"2022-09-01T09:37:48","date_gmt":"2022-09-01T13:37:48","guid":{"rendered":"https:\/\/www.moneysense.ca\/?p=270225"},"modified":"2022-09-01T09:37:48","modified_gmt":"2022-09-01T13:37:48","slug":"the-piece-of-advice-journalist-renee-sylvestre-williams-wished-she-had-in-her-20s-and-more","status":"publish","type":"post","link":"https:\/\/www.moneysense.ca\/columns\/my-moneysense\/renee-sylvestre-williams\/","title":{"rendered":"The piece of advice journalist Ren\u00e9e Sylvestre-Williams wished she had in her 20s and more"},"content":{"rendered":"
<\/div>\n

What\u2019s the best money advice you\u2019ve ever received?<\/h2>\n

Markets work in cycles, so if you\u2019re confident in your portfolio, don\u2019t pull money out of it. Between the financial crisis of 2008\u2014when I started investing\u2014the COVID crash in 2020 and the market volatility this year, it\u2019s been a lot of gritting teeth and trying to resist the temptation to change things. <\/p>\n

What\u2019s the worst money advice you\u2019ve ever received?<\/h2>\n

I don\u2019t think I\u2019ve received \u201cbad\u201d money advice, but all I got in my teens and 20s was \u201cpay off your credit card every month\u201d and \u201cmake a budget.\u201d I didn\u2019t get any investing advice, which would have been more useful. <\/p>\n

Would you rather receive a large sum of money all at once or a smaller amount of money regularly for life? <\/h2>\n

A smaller amount every week or month for life. I feel it would be better for how I manage my cash flow. Granted, I do have a plan for what I\u2019d do with the money if I ever won the lottery. I play every now and then with a group of friends.<\/p>\n

What do you think is the most underrated financial advice, tip or strategy?<\/h2>\n

You don\u2019t need a lot of money to start investing. Open a low- or no-fee account with a robo-advisor<\/a> if you\u2019re not confident in your financial knowledge and start there. Also, don\u2019t look at your investments every day, especially during a bear market<\/a>. That will just stress you out. <\/p>\n

(Conveniently, MoneySense<\/em> has an excerpt of Sylvestre-Williams\u2019 new book Money Myths<\/em><\/a> <\/em>about how to open an investing account online.)<\/p>\n

What is the biggest misconception people have about growing money?<\/h2>\n

That you have to be rich to start investing. Yeah, yeah, Warren Buffett\u2014who, by the way, is not self-made\u2014but you don\u2019t need a lot of cash to get started. The investing platform Robinhood pretty much proved that point. <\/p>\n

Can you share a money regret?<\/h2>\n

I wish I didn\u2019t spend the money I brought back from Japan when I went there to teach English nearly 20 years ago, on silly things like going out, etc., and put some of it in investments. Hindsight is a pain, but if I knew then what I know now, I wouldn\u2019t have done that. I would have spent some<\/em> of it on stupid stuff, but not the majority<\/em> of it. <\/p>\n

What does the word \u201cvalue\u201d mean to you? <\/strong><\/h2>\n

Value is something I can get a lot of wear out of. That could be paying full price for a phone, spending more on clothes, etc. I tend to wear the same things again and again, so I will spend more on a top and wear it for years versus buying a cheaper item. Caveat: I save for and can afford to do this. No shaming people\u2019s budgets.<\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

What\u2019s the best money advice you\u2019ve ever received? Markets work in cycles, so if you\u2019re confident in your portfolio, don\u2019t pull money out of it. Between the financial crisis of 2008\u2014when I started investing\u2014the...<\/p>\n","protected":false},"author":1,"featured_media":27663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[5,7,10,11],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts\/27661"}],"collection":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/comments?post=27661"}],"version-history":[{"count":0,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts\/27661\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/media?parent=27661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/categories?post=27661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/tags?post=27661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}