00:00Investing is only for the wealthy. Now that's a money myth if I ever heard one.
00:06Certified financial planner Chelsea Ransom Cooper tells CNBC you don't need
00:11to wait until your student loans and other outstanding debt is paid off to
00:14start investing. Quote, compound growth is the most important thing, unquote. And
00:20another money myth, savings should be kept in a savings account. You are
00:24essentially going to get beat by inflation and lose on potential gains by
00:28not investing. As Forbes explains, quote, it is vital to go beyond the savings
00:33account and invest money as a portfolio of different asset classes that align
00:38with your goals and needs, unquote. Buying a house is not the only way to build
00:43wealth. Quote, there are so many ways to build wealth nowadays, unquote. Ransom
00:48Cooper tells CNBC real estate is not the only game in town. You also don't need a
00:53lot of money to invest with digitization. You can start investing $50 or even $20 per month.
