Stock Market Secrets: My Smartest Investment Tips After 16 Years of Reporting

Stock Market Secrets: My Smartest Investment Tips After 16 Years of Reporting

This story is part of Recession Help Desk, CNET's coverage of how to make smart money moves in an uncertain economy.

If there's one thing I've learned in all my years of reporting, it's this: The stock market is moody.

In 2006, I began a new role as a financial correspondent reporting from the trading floor of the New York Stock Exchange. My job was to make sense of why the market was up or down each day. I'd start out each morning interviewing mostly older, white male brokers who were in charge of buying and selling shares on behalf of large institutional investors. (Also true: I was required to wear closed-toe shoes and a blazer. The dress code then was strict and a bit ridiculous.) 

I learned if tech stocks slumped just after the market opened, it might have been due to lower-than-expected earnings the evening before from an industry giant like Apple. Any hint of turbulence in the tech sector induced panicked brokers to drop shares at the opening bell. 

The market doesn't actually reflect reality. It measures the moods and attitudes of people like the brokers I used to interview. 

"Today's stock prices aren't because of how businesses are performing today," said Matt Frankel, a certified financial planner and contributing analyst for The Motley Fool, in an email. "They are based on future expectations." 

That's the problem: Current prices serve as a gauge of investor confidence, but stock market predictions are, at best, educated guesses. And to further complicate matters, "the markets are not always correct," according to Liz Young, head of investment strategy at SoFi. 

Reporting from the floor of the NYSE during the May 2010 "flash crash," when major stock indices crashed and then partially rebounded within an hour. 

Screenshot/CNET

Sound discouraging? I hear you, but it's still worth investing. Here's why.

While the stock market represents an elite class of investors (the wealthiest 10% of Americans hold 89% of stocks), it has proven over time to be a reliable way to grow your money for anyone with the tools and information to try. And technology has made it cheaper and easier to access. Now, a whole new generation has the chance to start investing and building wealth. If you can afford your basic needs and have some emergency savings set aside, there's no better time than now to invest -- even if it's just $20 a month.

Of course, the stock market feels particularly risky right now and it's natural to want to safeguard your money when the economy is volatile. If you're on the fence about investing because you're worried about a recession, or you just don't feel comfortable taking financial risks right now, you're not alone. Over 40% of Americans surveyed earlier this spring said that the bear-market downswing made them too scared to invest. 

But waiting to invest is an even bigger risk. Here's what I know for sure about how to overcome worry and invest for success.   

The 'Right Time' to Invest Is Right Now

Yes, the market is risky. Yes, there will be more crashes. But there's a high probability that the market will recover, just like it bounced back (and then some) a few years after the 2007-09 global financial crisis.

"Things will get better again. They always do," as my friend David Bach, author of the New York Times bestselling book The Automatic Millionaire told me on my podcast So Money.

Sure, it's better to buy at a low price so that you can cash in later from as much appreciation, or compound interest, as possible. But since it's very hard to predict where prices will go, the "right time" to strike is often something we only realize in hindsight. Waiting to invest until the time feels right, when you think stocks have hit a "bottom," can set you up for more failure than success. 

Your time in the market is more important than timing the market. Lying low until stocks rebound just means you're going to pay more. Instead, invest consistently and continuously, and let compounding interest build. You'll buy the dips and the highs, but ultimately, over the years, you'll come out ahead. "If you're in your 30s, or your 40s, or your 50s, and you're not retiring in the next year or two, guess what? Everything's on sale," Bach said. 

For example, had your parents invested $1,000 in the year 1960, it would be worth close to $400,000 today. That's after a presidential assassination, multiple wars, a global pandemic and many recessions, including the Great Recession. If the past is any indicator of the future, it's proven that markets will eventually recuperate from a downturn, and that they have greater periods of growth than decline. 

Read more: Investing for Beginners

Diversification is your best tool against volatility and market tumbles. Investors who are more cautious could try US bonds, which are considered "safe haven" investments because they are backed by the Treasury and offer a predictable return. 

Right now, with inflation at 8.5%, Americans are flocking toward Series I Savings Bonds, a government-issued investment that's protected against inflation. I bonds have both a fixed rate and an inflation rate that's adjusted every six months. Right now, I bonds will deliver a 9.62% annualized interest rate, which means they'll get you higher guaranteed returns than any other federally backed bank account. 

Technology Makes Investing Cheaper and More Accessible

Investing can be unnecessarily complicated and exclusionary, and the financial industry as a whole can do a lot more to break down barriers to entry. Guests on my podcast So Money, especially women, people of color and young adults, have shared how they wish they'd learned about investing sooner. 

My advice? Lean on technology, as well as the proliferation of social media and podcasts, to gain better access and education. At CNET, we are big fans of robo-advisors, such as Wealthfront and Betterment, that provide low-cost portfolio management. There's no need to wait until you have $1 million in the bank, which is what some professional investment advisors require before working with clients. You can start with just a little cash. 

And whether you're a fan of TikTok, Instagram or YouTube, there are some reputable experts there offering free education. One cautionary tip: Be sure to check their backgrounds and ensure whomever you're following is not a salesperson disguised as an investment educator!

Read more: Investing Doesn't Have to Be Intimidating. Pros and Cons to Robo-Advisors

Once you're investing, embrace automation so you never go astray. Automating our savings or retirement contributions is a smart move that, honestly, saves us from ourselves. With money in our hands, it's much easier to spend than it is to save, but technology can automatically move that money into an account. We're more likely to save for our future if we're already enrolled in a company retirement plan as opposed to choosing to opt in with each paycheck. Start your contribution with the maximum employer-match rate and try to increase your contribution to 10% or even 15%. That could net you thousands of dollars more each year. 

Pro-tip: If you're saving for retirement, see if your plan provider will automatically increase your savings rate each year (60% of employers offer this feature, according to the American Benefits Council). 

For all other types of long-term investments such as a brokerage account or Roth IRA, create a calendar reminder at the beginning of the year or on your birthday to increase your contributions.

Read more: Need to Save for Retirement? This Is the Easiest Way

You may also be able to set your portfolio to auto-rebalance so that it adjusts and automatically scoops up more stocks after a down period in the market, which can give you the right balance of stocks and bonds in your portfolio. 

Auto-rebalancing is a feature many banks and brokerages offer to ensure your portfolio's allocation doesn't fall off-kilter, says David Sekera, chief US market strategist for MorningStar. For example, let's say you set up your portfolio to have an equal mix of stocks and bonds. A bear market like the one we're in now may reduce the weight of stocks and be too heavy with bonds. But an auto-rebalance can fix that by buying more stocks when prices are low again, according to Sekera. 

I've seen first-hand how market volatility is creating a lot of uncertainty, and I know why it's hard to feel confident about investing. But history shows that staying on the sidelines as an investor can be riskier than participating in the market and riding out the dips and highs. 

Getting into the market sooner rather than later can be one of the smartest decisions on the road to building personal wealth and economic security. Along the way, be mindful of your risk tolerance, stay diversified and rely on automation to help you stay the course.

---

Source

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Stock Market Secrets: My Smartest Investment Tips After 16 Years of Reporting

Stock Market Secrets: My Smartest Investment Tips After 16 Years of Reporting

This story is part of Recession Help Desk, CNET's coverage of how to make smart money moves in an uncertain economy.

If there's one thing I've learned in all my years of reporting, it's this: The stock market is moody.

In 2006, I began a new role as a financial correspondent reporting from the trading floor of the New York Stock Exchange. My job was to make sense of why the market was up or down each day. I'd start out each morning interviewing mostly older, white male brokers who were in charge of buying and selling shares on behalf of large institutional investors. (Also true: I was required to wear closed-toe shoes and a blazer. The dress code then was strict and a bit ridiculous.) 

I learned if tech stocks slumped just after the market opened, it might have been due to lower-than-expected earnings the evening before from an industry giant like Apple. Any hint of turbulence in the tech sector induced panicked brokers to drop shares at the opening bell. 

The market doesn't actually reflect reality. It measures the moods and attitudes of people like the brokers I used to interview. 

"Today's stock prices aren't because of how businesses are performing today," said Matt Frankel, a certified financial planner and contributing analyst for The Motley Fool, in an email. "They are based on future expectations." 

That's the problem: Current prices serve as a gauge of investor confidence, but stock market predictions are, at best, educated guesses. And to further complicate matters, "the markets are not always correct," according to Liz Young, head of investment strategy at SoFi. 

Reporting from the floor of the NYSE during the May 2010 "flash crash," when major stock indices crashed and then partially rebounded within an hour. 

Screenshot/CNET

Sound discouraging? I hear you, but it's still worth investing. Here's why.

While the stock market represents an elite class of investors (the wealthiest 10% of Americans hold 89% of stocks), it has proven over time to be a reliable way to grow your money for anyone with the tools and information to try. And technology has made it cheaper and easier to access. Now, a whole new generation has the chance to start investing and building wealth. If you can afford your basic needs and have some emergency savings set aside, there's no better time than now to invest -- even if it's just $20 a month.

Of course, the stock market feels particularly risky right now and it's natural to want to safeguard your money when the economy is volatile. If you're on the fence about investing because you're worried about a recession, or you just don't feel comfortable taking financial risks right now, you're not alone. Over 40% of Americans surveyed earlier this spring said that the bear-market downswing made them too scared to invest. 

But waiting to invest is an even bigger risk. Here's what I know for sure about how to overcome worry and invest for success.   

The 'Right Time' to Invest Is Right Now

Yes, the market is risky. Yes, there will be more crashes. But there's a high probability that the market will recover, just like it bounced back (and then some) a few years after the 2007-09 global financial crisis.

"Things will get better again. They always do," as my friend David Bach, author of the New York Times bestselling book The Automatic Millionaire told me on my podcast So Money.

Sure, it's better to buy at a low price so that you can cash in later from as much appreciation, or compound interest, as possible. But since it's very hard to predict where prices will go, the "right time" to strike is often something we only realize in hindsight. Waiting to invest until the time feels right, when you think stocks have hit a "bottom," can set you up for more failure than success. 

Your time in the market is more important than timing the market. Lying low until stocks rebound just means you're going to pay more. Instead, invest consistently and continuously, and let compounding interest build. You'll buy the dips and the highs, but ultimately, over the years, you'll come out ahead. "If you're in your 30s, or your 40s, or your 50s, and you're not retiring in the next year or two, guess what? Everything's on sale," Bach said. 

For example, had your parents invested $1,000 in the year 1960, it would be worth close to $400,000 today. That's after a presidential assassination, multiple wars, a global pandemic and many recessions, including the Great Recession. If the past is any indicator of the future, it's proven that markets will eventually recuperate from a downturn, and that they have greater periods of growth than decline. 

Read more: Investing for Beginners

Diversification is your best tool against volatility and market tumbles. Investors who are more cautious could try US bonds, which are considered "safe haven" investments because they are backed by the Treasury and offer a predictable return. 

Right now, with inflation at 8.5%, Americans are flocking toward Series I Savings Bonds, a government-issued investment that's protected against inflation. I bonds have both a fixed rate and an inflation rate that's adjusted every six months. Right now, I bonds will deliver a 9.62% annualized interest rate, which means they'll get you higher guaranteed returns than any other federally backed bank account. 

Technology Makes Investing Cheaper and More Accessible

Investing can be unnecessarily complicated and exclusionary, and the financial industry as a whole can do a lot more to break down barriers to entry. Guests on my podcast So Money, especially women, people of color and young adults, have shared how they wish they'd learned about investing sooner. 

My advice? Lean on technology, as well as the proliferation of social media and podcasts, to gain better access and education. At CNET, we are big fans of robo-advisors, such as Wealthfront and Betterment, that provide low-cost portfolio management. There's no need to wait until you have $1 million in the bank, which is what some professional investment advisors require before working with clients. You can start with just a little cash. 

And whether you're a fan of TikTok, Instagram or YouTube, there are some reputable experts there offering free education. One cautionary tip: Be sure to check their backgrounds and ensure whomever you're following is not a salesperson disguised as an investment educator!

Read more: Investing Doesn't Have to Be Intimidating. Pros and Cons to Robo-Advisors

Once you're investing, embrace automation so you never go astray. Automating our savings or retirement contributions is a smart move that, honestly, saves us from ourselves. With money in our hands, it's much easier to spend than it is to save, but technology can automatically move that money into an account. We're more likely to save for our future if we're already enrolled in a company retirement plan as opposed to choosing to opt in with each paycheck. Start your contribution with the maximum employer-match rate and try to increase your contribution to 10% or even 15%. That could net you thousands of dollars more each year. 

Pro-tip: If you're saving for retirement, see if your plan provider will automatically increase your savings rate each year (60% of employers offer this feature, according to the American Benefits Council). 

For all other types of long-term investments such as a brokerage account or Roth IRA, create a calendar reminder at the beginning of the year or on your birthday to increase your contributions.

Read more: Need to Save for Retirement? This Is the Easiest Way

You may also be able to set your portfolio to auto-rebalance so that it adjusts and automatically scoops up more stocks after a down period in the market, which can give you the right balance of stocks and bonds in your portfolio. 

Auto-rebalancing is a feature many banks and brokerages offer to ensure your portfolio's allocation doesn't fall off-kilter, says David Sekera, chief US market strategist for MorningStar. For example, let's say you set up your portfolio to have an equal mix of stocks and bonds. A bear market like the one we're in now may reduce the weight of stocks and be too heavy with bonds. But an auto-rebalance can fix that by buying more stocks when prices are low again, according to Sekera. 

I've seen first-hand how market volatility is creating a lot of uncertainty, and I know why it's hard to feel confident about investing. But history shows that staying on the sidelines as an investor can be riskier than participating in the market and riding out the dips and highs. 

Getting into the market sooner rather than later can be one of the smartest decisions on the road to building personal wealth and economic security. Along the way, be mindful of your risk tolerance, stay diversified and rely on automation to help you stay the course.

---

Source

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Stock Market Secrets: My Smartest Investment Tips After 16 Years of Reporting

Stock Market Secrets: My Smartest Investment Tips After 16 Years of Reporting

This story is part of Recession Help Desk, CNET's coverage of how to make smart money moves in an uncertain economy.

If there's one thing I've learned in all my years of reporting, it's this: The stock market is moody.

In 2006, I began a new role as a financial correspondent reporting from the trading floor of the New York Stock Exchange. My job was to make sense of why the market was up or down each day. I'd start out each morning interviewing mostly older, white male brokers who were in charge of buying and selling shares on behalf of large institutional investors. (Also true: I was required to wear closed-toe shoes and a blazer. The dress code then was strict and a bit ridiculous.) 

I learned if tech stocks slumped just after the market opened, it might have been due to lower-than-expected earnings the evening before from an industry giant like Apple. Any hint of turbulence in the tech sector induced panicked brokers to drop shares at the opening bell. 

The market doesn't actually reflect reality. It measures the moods and attitudes of people like the brokers I used to interview. 

"Today's stock prices aren't because of how businesses are performing today," said Matt Frankel, a certified financial planner and contributing analyst for The Motley Fool, in an email. "They are based on future expectations." 

That's the problem: Current prices serve as a gauge of investor confidence, but stock market predictions are, at best, educated guesses. And to further complicate matters, "the markets are not always correct," according to Liz Young, head of investment strategy at SoFi. 

Reporting from the floor of the NYSE during the May 2010 "flash crash," when major stock indices crashed and then partially rebounded within an hour. 

Screenshot/CNET

Sound discouraging? I hear you, but it's still worth investing. Here's why.

While the stock market represents an elite class of investors (the wealthiest 10% of Americans hold 89% of stocks), it has proven over time to be a reliable way to grow your money for anyone with the tools and information to try. And technology has made it cheaper and easier to access. Now, a whole new generation has the chance to start investing and building wealth. If you can afford your basic needs and have some emergency savings set aside, there's no better time than now to invest -- even if it's just $20 a month.

Of course, the stock market feels particularly risky right now and it's natural to want to safeguard your money when the economy is volatile. If you're on the fence about investing because you're worried about a recession, or you just don't feel comfortable taking financial risks right now, you're not alone. Over 40% of Americans surveyed earlier this spring said that the bear-market downswing made them too scared to invest. 

But waiting to invest is an even bigger risk. Here's what I know for sure about how to overcome worry and invest for success.   

The 'Right Time' to Invest Is Right Now

Yes, the market is risky. Yes, there will be more crashes. But there's a high probability that the market will recover, just like it bounced back (and then some) a few years after the 2007-09 global financial crisis.

"Things will get better again. They always do," as my friend David Bach, author of the New York Times bestselling book The Automatic Millionaire told me on my podcast So Money.

Sure, it's better to buy at a low price so that you can cash in later from as much appreciation, or compound interest, as possible. But since it's very hard to predict where prices will go, the "right time" to strike is often something we only realize in hindsight. Waiting to invest until the time feels right, when you think stocks have hit a "bottom," can set you up for more failure than success. 

Your time in the market is more important than timing the market. Lying low until stocks rebound just means you're going to pay more. Instead, invest consistently and continuously, and let compounding interest build. You'll buy the dips and the highs, but ultimately, over the years, you'll come out ahead. "If you're in your 30s, or your 40s, or your 50s, and you're not retiring in the next year or two, guess what? Everything's on sale," Bach said. 

For example, had your parents invested $1,000 in the year 1960, it would be worth close to $400,000 today. That's after a presidential assassination, multiple wars, a global pandemic and many recessions, including the Great Recession. If the past is any indicator of the future, it's proven that markets will eventually recuperate from a downturn, and that they have greater periods of growth than decline. 

Read more: Investing for Beginners

Diversification is your best tool against volatility and market tumbles. Investors who are more cautious could try US bonds, which are considered "safe haven" investments because they are backed by the Treasury and offer a predictable return. 

Right now, with inflation at 8.5%, Americans are flocking toward Series I Savings Bonds, a government-issued investment that's protected against inflation. I bonds have both a fixed rate and an inflation rate that's adjusted every six months. Right now, I bonds will deliver a 9.62% annualized interest rate, which means they'll get you higher guaranteed returns than any other federally backed bank account. 

Technology Makes Investing Cheaper and More Accessible

Investing can be unnecessarily complicated and exclusionary, and the financial industry as a whole can do a lot more to break down barriers to entry. Guests on my podcast So Money, especially women, people of color and young adults, have shared how they wish they'd learned about investing sooner. 

My advice? Lean on technology, as well as the proliferation of social media and podcasts, to gain better access and education. At CNET, we are big fans of robo-advisors, such as Wealthfront and Betterment, that provide low-cost portfolio management. There's no need to wait until you have $1 million in the bank, which is what some professional investment advisors require before working with clients. You can start with just a little cash. 

And whether you're a fan of TikTok, Instagram or YouTube, there are some reputable experts there offering free education. One cautionary tip: Be sure to check their backgrounds and ensure whomever you're following is not a salesperson disguised as an investment educator!

Read more: Investing Doesn't Have to Be Intimidating. Pros and Cons to Robo-Advisors

Once you're investing, embrace automation so you never go astray. Automating our savings or retirement contributions is a smart move that, honestly, saves us from ourselves. With money in our hands, it's much easier to spend than it is to save, but technology can automatically move that money into an account. We're more likely to save for our future if we're already enrolled in a company retirement plan as opposed to choosing to opt in with each paycheck. Start your contribution with the maximum employer-match rate and try to increase your contribution to 10% or even 15%. That could net you thousands of dollars more each year. 

Pro-tip: If you're saving for retirement, see if your plan provider will automatically increase your savings rate each year (60% of employers offer this feature, according to the American Benefits Council). 

For all other types of long-term investments such as a brokerage account or Roth IRA, create a calendar reminder at the beginning of the year or on your birthday to increase your contributions.

Read more: Need to Save for Retirement? This Is the Easiest Way

You may also be able to set your portfolio to auto-rebalance so that it adjusts and automatically scoops up more stocks after a down period in the market, which can give you the right balance of stocks and bonds in your portfolio. 

Auto-rebalancing is a feature many banks and brokerages offer to ensure your portfolio's allocation doesn't fall off-kilter, says David Sekera, chief US market strategist for MorningStar. For example, let's say you set up your portfolio to have an equal mix of stocks and bonds. A bear market like the one we're in now may reduce the weight of stocks and be too heavy with bonds. But an auto-rebalance can fix that by buying more stocks when prices are low again, according to Sekera. 

I've seen first-hand how market volatility is creating a lot of uncertainty, and I know why it's hard to feel confident about investing. But history shows that staying on the sidelines as an investor can be riskier than participating in the market and riding out the dips and highs. 

Getting into the market sooner rather than later can be one of the smartest decisions on the road to building personal wealth and economic security. Along the way, be mindful of your risk tolerance, stay diversified and rely on automation to help you stay the course.

---

Source

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Stock Market Secrets: My Smartest Investment Tips After 16 Years of Reporting

Stock Market Secrets: My Smartest Investment Tips After 16 Years of Reporting

This story is part of Recession Help Desk, CNET's coverage of how to make smart money moves in an uncertain economy.

If there's one thing I've learned in all my years of reporting, it's this: The stock market is moody.

In 2006, I began a new role as a financial correspondent reporting from the trading floor of the New York Stock Exchange. My job was to make sense of why the market was up or down each day. I'd start out each morning interviewing mostly older, white male brokers who were in charge of buying and selling shares on behalf of large institutional investors. (Also true: I was required to wear closed-toe shoes and a blazer. The dress code then was strict and a bit ridiculous.) 

I learned if tech stocks slumped just after the market opened, it might have been due to lower-than-expected earnings the evening before from an industry giant like Apple. Any hint of turbulence in the tech sector induced panicked brokers to drop shares at the opening bell. 

The market doesn't actually reflect reality. It measures the moods and attitudes of people like the brokers I used to interview. 

"Today's stock prices aren't because of how businesses are performing today," said Matt Frankel, a certified financial planner and contributing analyst for The Motley Fool, in an email. "They are based on future expectations." 

That's the problem: Current prices serve as a gauge of investor confidence, but stock market predictions are, at best, educated guesses. And to further complicate matters, "the markets are not always correct," according to Liz Young, head of investment strategy at SoFi. 

Reporting from the floor of the NYSE during the May 2010 "flash crash," when major stock indices crashed and then partially rebounded within an hour. 

Screenshot/CNET

Sound discouraging? I hear you, but it's still worth investing. Here's why.

While the stock market represents an elite class of investors (the wealthiest 10% of Americans hold 89% of stocks), it has proven over time to be a reliable way to grow your money for anyone with the tools and information to try. And technology has made it cheaper and easier to access. Now, a whole new generation has the chance to start investing and building wealth. If you can afford your basic needs and have some emergency savings set aside, there's no better time than now to invest -- even if it's just $20 a month.

Of course, the stock market feels particularly risky right now and it's natural to want to safeguard your money when the economy is volatile. If you're on the fence about investing because you're worried about a recession, or you just don't feel comfortable taking financial risks right now, you're not alone. Over 40% of Americans surveyed earlier this spring said that the bear-market downswing made them too scared to invest. 

But waiting to invest is an even bigger risk. Here's what I know for sure about how to overcome worry and invest for success.   

The 'Right Time' to Invest Is Right Now

Yes, the market is risky. Yes, there will be more crashes. But there's a high probability that the market will recover, just like it bounced back (and then some) a few years after the 2007-09 global financial crisis.

"Things will get better again. They always do," as my friend David Bach, author of the New York Times bestselling book The Automatic Millionaire told me on my podcast So Money.

Sure, it's better to buy at a low price so that you can cash in later from as much appreciation, or compound interest, as possible. But since it's very hard to predict where prices will go, the "right time" to strike is often something we only realize in hindsight. Waiting to invest until the time feels right, when you think stocks have hit a "bottom," can set you up for more failure than success. 

Your time in the market is more important than timing the market. Lying low until stocks rebound just means you're going to pay more. Instead, invest consistently and continuously, and let compounding interest build. You'll buy the dips and the highs, but ultimately, over the years, you'll come out ahead. "If you're in your 30s, or your 40s, or your 50s, and you're not retiring in the next year or two, guess what? Everything's on sale," Bach said. 

For example, had your parents invested $1,000 in the year 1960, it would be worth close to $400,000 today. That's after a presidential assassination, multiple wars, a global pandemic and many recessions, including the Great Recession. If the past is any indicator of the future, it's proven that markets will eventually recuperate from a downturn, and that they have greater periods of growth than decline. 

Read more: Investing for Beginners

Diversification is your best tool against volatility and market tumbles. Investors who are more cautious could try US bonds, which are considered "safe haven" investments because they are backed by the Treasury and offer a predictable return. 

Right now, with inflation at 8.5%, Americans are flocking toward Series I Savings Bonds, a government-issued investment that's protected against inflation. I bonds have both a fixed rate and an inflation rate that's adjusted every six months. Right now, I bonds will deliver a 9.62% annualized interest rate, which means they'll get you higher guaranteed returns than any other federally backed bank account. 

Technology Makes Investing Cheaper and More Accessible

Investing can be unnecessarily complicated and exclusionary, and the financial industry as a whole can do a lot more to break down barriers to entry. Guests on my podcast So Money, especially women, people of color and young adults, have shared how they wish they'd learned about investing sooner. 

My advice? Lean on technology, as well as the proliferation of social media and podcasts, to gain better access and education. At CNET, we are big fans of robo-advisors, such as Wealthfront and Betterment, that provide low-cost portfolio management. There's no need to wait until you have $1 million in the bank, which is what some professional investment advisors require before working with clients. You can start with just a little cash. 

And whether you're a fan of TikTok, Instagram or YouTube, there are some reputable experts there offering free education. One cautionary tip: Be sure to check their backgrounds and ensure whomever you're following is not a salesperson disguised as an investment educator!

Read more: Investing Doesn't Have to Be Intimidating. Pros and Cons to Robo-Advisors

Once you're investing, embrace automation so you never go astray. Automating our savings or retirement contributions is a smart move that, honestly, saves us from ourselves. With money in our hands, it's much easier to spend than it is to save, but technology can automatically move that money into an account. We're more likely to save for our future if we're already enrolled in a company retirement plan as opposed to choosing to opt in with each paycheck. Start your contribution with the maximum employer-match rate and try to increase your contribution to 10% or even 15%. That could net you thousands of dollars more each year. 

Pro-tip: If you're saving for retirement, see if your plan provider will automatically increase your savings rate each year (60% of employers offer this feature, according to the American Benefits Council). 

For all other types of long-term investments such as a brokerage account or Roth IRA, create a calendar reminder at the beginning of the year or on your birthday to increase your contributions.

Read more: Need to Save for Retirement? This Is the Easiest Way

You may also be able to set your portfolio to auto-rebalance so that it adjusts and automatically scoops up more stocks after a down period in the market, which can give you the right balance of stocks and bonds in your portfolio. 

Auto-rebalancing is a feature many banks and brokerages offer to ensure your portfolio's allocation doesn't fall off-kilter, says David Sekera, chief US market strategist for MorningStar. For example, let's say you set up your portfolio to have an equal mix of stocks and bonds. A bear market like the one we're in now may reduce the weight of stocks and be too heavy with bonds. But an auto-rebalance can fix that by buying more stocks when prices are low again, according to Sekera. 

I've seen first-hand how market volatility is creating a lot of uncertainty, and I know why it's hard to feel confident about investing. But history shows that staying on the sidelines as an investor can be riskier than participating in the market and riding out the dips and highs. 

Getting into the market sooner rather than later can be one of the smartest decisions on the road to building personal wealth and economic security. Along the way, be mindful of your risk tolerance, stay diversified and rely on automation to help you stay the course.

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Crypto Market Drops Below $1T for First Time Since Early 2021

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Crypto Market Drops Below $1T for First Time Since Early 2021

The world's largest cryptocurrency, bitcoin, fell below $24,000 on Monday, its lowest level since December 2020, according to data from CoinMarketCap. The fall came as the cryptocurrency market capitalization tumbled to under $1 trillion for the first time since February 2021, CNBC noted.

The drop continues a months-long downward trend that could be driven by rising inflation, economic concerns related to the war in Ukraine and a corresponding drop in major stock market indices. 

Confidence in the crypto market became shaky in May after the collapse of terraUSD, one of the largest stablecoins. Crypto lending company Celsius also paused withdrawals for its customers on Monday, Bloomberg reported, which may have further eroded people's faith in the market.

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Crypto Crash Rattles Cybercriminals, Pushing Them Beyond Ransomware

Crypto Crash Rattles Cybercriminals, Pushing Them Beyond Ransomware

What's happening

Crypto prices continue to plunge, but cybercriminals still need the currencies for ransomware attacks.

Why it matters

Some experts say the price drops might be pushing cybercriminals away from ransomware and toward other kinds of cybercrime that involve stealing traditional money.

The collapse of cryptocurrencies is rippling through the world of ransomware, security researchers say, even though bitcoin, ether and other digital tokens remain the payment of choice for cybercriminals locking up corporate computer systems.

Over the past few months, the value of cryptocurrencies has plummeted amid rising inflation, economic shocks caused by the war in Ukraine and falling global stock markets. Hundreds of billions of dollars in value has been wiped out over that period, which is starting to be known as crypto winter. On one day alone, more than $200 billion in value was wiped from the broad crypto market.

The widespread fall has forced cybercriminals to recalculate their ransoms, security professionals say, and has pushed out of business some of the services that handle their ill-gotten gains, such as dark web crypto-swapping marketplaces. It's also accelerating a preexisting shift toward crimes such as malware attacks and corporate phishing scams that target actual dollars, rather than crypto.

 Mark Lance, vice president of cyberdefense and a ransomware negotiator at GuidePoint Security, notes that ransomware demands are generally based on US dollar amounts, so cybercriminals are simply doing the math and asking for greater amounts of crypto. That makes the bitcoin demand look larger, even though ransoms haven't changed much in dollar terms. 

Lance says many ransomware attacks fly under the radar these days because the attacks aren't as novel as they once were. Many ransoms get little attention unless they have the type of consumer fallout that last year's headline-grabbing attack on Colonial Pipeline did.

"Ransomware is still as prevalent as it ever was," Lance said, "and still making a ton of money." 

Business isn't as good at the largely shady crypto exchanges that cater to small-time cybercriminals. Many of those organizations are feeling the chill of crypto winter.

Last year, a team of researchers at Cybersixgill, an Israel-based threat intelligence firm, watched the activities of roughly 30 small dark web exchanges for several months. The exchanges, which the company didn't specifically name, have all been shut down since April.

The reason: Cybercriminals act a lot like many investors. When the values of assets start to tumble, they panic and cash out as fast as possible in hopes of cutting their losses. 

"It's just like what we see when there are bank runs," said Dov Lerner, who runs Cybersixgill's security research. He says the people behind the exchanges are still active in cybercrime even though the exchanges have "just vanished."

Some observers say crypto winter has put a permanent chill on ransomware attacks. 

Not that long ago, cybercriminals could demand $1 million to $3 million in payment after locking up a corporate computer system, notes Sherrod DeGrippo, vice president of threat research at Proofpoint, an email security company.

"But I think those heydays might be over," she said, noting that criminals aren't seeing the same success they once did. She notes that many organizations, along with the US government, have stepped up their ransomware defenses recently, pushing cybercriminals toward other activities.

Her company has seen upticks in attacks involving remote-banking trojans, malware designed to steal credentials or access to financial accounts, along with phishing attacks that scam company officials into paying fake invoices or otherwise send criminals real money. There's even been an uptick in the harvesting of credit card numbers. 

With any of those crimes, the criminals make off with conventional currency, rather than crypto. 

Criminals also like trojans because the malware can sit on systems quietly siphoning money overtime. For example, an attacker might be able to scam a company into paying a fake invoice month after month, or a banking trojan could continue to harvest access to financial accounts over time without the company knowing.

"Getting an organization's payroll, pensions and retirement makes for a massive payday," DeGrippo said. "It's a lot bigger, quieter and easier than ransomware."

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