Dear Penny,

I’m having trouble convincing my husband that we should start making investments. He thinks the stock market is a scam, but I’ve had several college classes that discussed Wall Street and several of my friends are doing okay with their portfolios.

It was a struggle to even convince him to move from a traditional savings account to a high-yielding one. I would never bet with money we could not afford. How do I convince my husband that building wealth is a risk but a worthy one?

-K.

Dear K.,

Some people don’t invest because they truly are risk-averse. They lose sleep when the stock market has a bad day, let alone when it has a complete meltdown like the one we saw last March. Your husband could fall into this camp, particularly if he’s ever seen someone close to him lose money on a bad investment.

Sometimes it’s sheer laziness. That possibility crossed my mind for your husband. Not wanting to switch to a high-yield savings account seems less about risk and more about the fact that switching bank accounts is a pain.

Robin Hartill [ The Penny Hoarder ]

Often, though, it boils down to this: We’d rather spend our money now instead of decades from now. It sounds like you’re relatively young — and when you’re young and your paychecks are stretched thin, it feels like you have all the time in the world. Investing takes a lot of discipline. So dismissing the entire stock market as a scam can be a convenient excuse for spending all of your money now.

Which do…

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