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The number of Americans who own stocks is on the rise, but the decision to invest your money is personal, and there's not always a clear answer. That's why it's helpful to look at the facts. In an April 2023 Gallup poll, 61% of U.S. adults said they own stocks — an increase from 56% in 2021 (and the highest rate since 2008.) Even so, not everyone is active in the market. For some people, it may be because they don't feel they fit the "mold" of a typical investor or are swayed by other misconceptions.To help you figure out if investing is right for you, we're sharing six common myths, plus advice on how to move past them.<img src="https://www.lifeandmoney.citi.com/rcs/lifeandmoney/storage/public/Business-woman-using-cellphone-in-office.jpg" alt="Business woman using cellphone in office" class="right_image" /><h2 style="margin-bottom: 11px;">1. Myth: Getting started is difficult.</h2>Many people think they need access to a top advisor to oversee their investments, but the rise of mobile trading apps and robo-advisory services have made managing a portfolio easier than ever."Many of today's apps offer clean and easy-to-use interfaces and various useful functionalities, and most importantly, they're free," says Tyrone Ross, who operates a San Diego-based financial consultancy called 401 Financial. "My clients use them for everything from monitoring their investments to tracking and budgeting."<h2>2. Myth: Investing is too expensive.</h2>Think you need a lot of money just to open a trading account? Or that the best-performing investments cater to the top 1%? Neither are true. Brokerages have tamped down fees and minimum account balances in recent years, allowing people to invest with a few hundred dollars.Not all funds are expensive either. While some mutual funds — a basket of securities run by an experienced portfolio manager — charge 1% to 2% in fees, you don't have to look far to find inexpensive and efficient options. Exchange-traded funds (ETFs), for instance, deliver transparency, flexibility and tax efficiency at a fraction of the cost of actively managed funds. (Keep in mind that asset allocation and diversification do not guarantee a profit or protect against loss.)<img src="https://www.lifeandmoney.citi.com/rcs/lifeandmoney/storage/public/new-to-investing_body-2_1151155735.jpg" alt="A woman makes calculations while reviewing her finances" class="right_image" /><h2 style="margin-bottom: 11px;">3. Myth: Investing requires a complex strategy.</h2>There may be a perception that only expert investors are successful, but what many people forget is that passive investments — those that track an index or an industry sector — have actually beaten out some actively managed funds over the past decade. That means that a complex strategy isn't necessarily going to outperform a basic approach.Keep in mind, though, that investing is much more than just picking stocks. You'll want to think about how to diversify, manage risks and distribute your assets.<h2>4. Myth: Only practice makes perfect.</h2>You may know people who spend their weekend poring over financial statements and running spreadsheet models, but the truth is, that's not necessarily the key to investing wisely.What you need is a <a href="https://www.lifeandmoney.citi.com/lam/articles/money/managing-money/save-money-with-a-financial-checkup">financial plan</a>. Working with a financial advisor can help you establish appropriate <a href="https://www.lifeandmoney.citi.com/lam/articles/money/managing-money/super-money-saving-tips">savings goals</a>, develop a <a href="https://www.lifeandmoney.citi.com/lam/articles/milestones/retirement/the-new-retirement">retirement strategy</a> and create a <a href="https://www.lifeandmoney.citi.com/lam/articles/money/family/personal-financial-planning-for-families">long-term investment plan</a>. An advisor will develop an intimate knowledge of your finances and can then recommend assets to help you reach your long-term goals."I like to start with the three Es: exposure, education and empowerment," says Ross. "A lot of times people just don't know what's available, how to get started and where to turn at major life milestones."<h2 style="margin-bottom: 11px;">5. Myth: The market is a rollercoaster.</h2>When major stock market indexes hit a rough patch, it's natural to think that the next big recession is around the corner. You might recall past downturns when markets contracted, unemployment rose and the economy appeared shaky.Yet regular corrections can be healthy, and history has shown the market has moved higher more often than not. (Of course, past performance is not an indicator or any assurance of future growth, and because the market can be volatile, there are always financial risks to investing.)If you maintain a long-term outlook, you may be more likely to enjoy the growth that the market can provide over time with much less stress. One way to do that is with a systematic approach like dollar cost averaging, which entails investing a fixed amount each week, month or quarter.<h2>6. Myth: Investing is a moral minefield.</h2>If you're wary of where your money will be going, consider that many publicly traded companies prioritize creating long-term value for shareholders while making a difference in the community. You can check both these boxes with an investment in an ESG fund or company, for example.Look for companies that incorporate environmental, social responsibility and governance policies from the C-suite down to first-year analysts, or simply search for a list of Certified B Corporations, which balance purpose and profit.— With additional reporting from Life and Money by Citi editors.

 Investing is a great way to put your money to work. Here's how to get started.

New to Investing? Don't Let These 6 Myths Stop You

Certificates of deposit, or CDs, enable investors to know how much they&rsquo;ll earn. And CD laddering, a savings strategy that entails investing in multiple CDs that expire at varying dates, can lead to a greater return since you can invest more as the market changes or hold onto your money for the right time. Sound appealing? Here&rsquo;s what you need to know. 
<h2>What is CD laddering?</h2>
A CD is a type of savings account that retains your funds for a length of time and pays interest. You are giving a financial institution an amount (generally a minimum of $500) for a set period and, in exchange, you&rsquo;ll usually get a higher interest rate than you would with a basic savings account. How much time? This can vary. For short-term CDs it&rsquo;s typically a year or less, for mid-term it&rsquo;s two to three years and for long-term it&rsquo;s usually four years or longer.&nbsp;
CD laddering is a strategy that entails investing in multiple CDs for varying lengths of time. If you bought three CDs, for example, you might purchase a short-term, mid-term and long-term CD. Your CD ladder can be as tall or as short as you want; commonly they are five rungs, but you could buy as few as two.
Why invest in multiple CDs? You can buy just one, but a CD ladder allows you to build up funds for short- and long-term financial goals and can also help with cash flow issues. For example, if you invest $2,000 in one CD that matures in three years, you typically can&rsquo;t touch this money before that time without paying a penalty (typically a few or several months of interest, depending on the CD&rsquo;s maturity period).
Alternately, if you were to invest that same $2,000 in three, four or five different CDs with staggered maturity dates (such as one year-increments over the next five years), you&rsquo;d be able to periodically access some of the money, plus interest, without paying a fee. &ldquo;If cash is needed, the maturing CDs offer a ready source,&rdquo; says Robert R. Johnson, a professor of finance at Creighton University&rsquo;s Heider College of Business, in Omaha, NE. If it&rsquo;s not needed, the investor can reinvest the proceeds of the maturing CD.
Interest is one reason many investors like CDs, especially with rates climbing in the last few years. These days, you can often get an annual percentage yield (APY) as high as 4% or 5%, and typically the longer you invest in a CD, the higher the interest rate you&rsquo;ll get. The more interest you earn, the more profitable CD laddering becomes. So if after a year you reinvested your $1,000 CD with a 4% APY, you&rsquo;d be investing $1,040 instead of $1,000. In essence, CDs are designed to guarantee you make a profit when you keep your money in the account during the CD term, and you&rsquo;ll know exactly how much time it&rsquo;ll take and how much money you&rsquo;ll get for the investment.&nbsp;
What&rsquo;s more, CDs could be low risk because they are backed by the Federal Deposit Insurance Corporation (FDIC) up to the deposit insurance limit of $250,000. They&rsquo;re also easy to monitor. You can create calendar alerts for CD maturity dates so you can reinvest efficiently. You&rsquo;ll want to be flexible; for example, if a six-month CD matures but pays a lower rate than it did previously, you may want to invest in a three-month CD until rates improve.
<div class="OutlineElement Ltr SCXW246449653 BCX0" style="margin: 0px; padding: 0px; user-select: text; overflow: visible; cursor: text; clear: both; direction: ltr; color: #000000; font-family: 'Segoe UI', 'Segoe UI Web', Arial, Verdana, sans-serif; font-size: 12px; white-space: normal; background-color: #ffffff;">&nbsp;</div>
<img class="hero_listicle" src="https://www.lifeandmoney.citi.com/rcs/lifeandmoney/storage/public/Citibank-Infographic_1_v05.jpg" alt="Hypothetical scenario. For illustrative purposes only. Infographic demonstrating how CD laddering works. There are 4 steps. Step 1: Choose a lump sum of savings, depicted here with stacks of coins. Step 2: Divide those savings into portions, shown here as 4 stacks of coins. Step 3: Fund multiple CDs with staggered maturities. Step 4: At maturity, move funds into longer, high-earning CDs. Steps 3 and 4 are shown as a horizontal bar graph with colors showing the potential length of each CD.">
<h2>Is CD laddering right for you?</h2>
It can be a smart savings strategy, but not necessarily for everyone. These are the upsides and downsides to consider.&nbsp;
Pro: CD laddering is predictable. You can plan on how much money you&rsquo;ll get in a specific time frame, which can make it a good option &ldquo;for protecting wealth and providing cash flow for anticipated expenses,&rdquo; Johnson says.&nbsp;&nbsp;
Con: It&rsquo;s a slow process, so if you were aiming to build wealth quickly, you might be more partial to investments like mutual funds (essentially a basket of stocks from a variety of companies), which come with greater risk.&nbsp;
Pro: CD laddering can ensure the money is there for big purchases. &ldquo;It enables the investor to match cash flows with planned expenditures,&rdquo; Johnson says. &ldquo;For instance, if the investor knows tuition payments will be due each semester for four years, beginning in five years, she can buy CDs maturing at exactly the right times to make tuition payments.&rdquo;&nbsp;&nbsp;
Con: If you take out your money early, you&rsquo;ll likely have to pay a penalty. For this reason, if you don&rsquo;t have an emergency fund, you may want to set up a well-funded, high-yield savings account you can dip into if needed before putting money into a CD.&nbsp;
Pro: Many financial institutions offer CDs so they are relatively easy to obtain. You simply follow the bank website&rsquo;s instructions to open up a CD account and deposit your money. Don&rsquo;t assume every CD will work the same, however. CDs are generally available through national banks, community banks, credit unions, brokerage firms and financial advisers, but rates will vary from under 1% APY to 5% APY.&nbsp;&nbsp;
You may want to invest in a CD with a high rate (the higher the rate, the more money you&rsquo;ll earn), though there can be reasons to go lower. For instance, no-penalty CDs generally have lower interest rates than CDs with penalties, but you might prefer this for the ability to withdraw money without a fee.&nbsp;
<h2>The bottom line</h2>
All in all, CD investments ensure you&rsquo;ll earn some money in interest. One big factor in deciding whether to use a CD laddering strategy might be the stage you&rsquo;re at in your financial journey. If you&rsquo;re just starting to save for longer term goals, for example, you may want to work on setting up a Roth IRA or 401(k) first or instead; those investments are important to set up early, to save as much as you can for your retirement. On the other hand, CD laddering is worth considering if you are planning for big purchases (a home, wedding, college) or want to diversify how you save for retirement. It&rsquo;s an investment strategy that, like a real ladder, can ultimately take you to great heights.&nbsp;
<p class="Paragraph SCXW67128161 BCX0" style="margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; white-space: pre-wrap; vertical-align: baseline; font-kerning: none; color: windowtext; text-align: left;">-- With additional reporting from Life and Money by Citi editors

Interested in making your savings stretch even further without incurring risk? Try CD laddering, a strategy that allows you to put a sum of money into multiple certificates of deposit with staggered maturity dates. 

How a CD Laddering Strategy Can Elevate Your Savings

If you're evaluating your finances, you might wonder whether it's wiser to hold onto your money or to invest it. But a better question may be: What's the best way to do both?
That's the key to building real wealth, according to finance pros, because if you focus only on saving for the near term, you could be short-changing your retirement &mdash; and if you invest in the future but never save money, you may find yourself underfunded when your mechanic tells you the rattle in your car wasn't just a simple fix. For a more comprehensive approach to managing your money, try these expert tip.
<h3>Put your savings to work</h3>
If your funds are in a savings account earning next to nothing, that can be nearly as effective as stuffing your money under a mattress. Ideally your money should go where it will grow at a higher rate &mdash; either in a high-yield, interest-bearing savings account or into another financial vehicle like a <a href=" https://www.lifeandmoney.citi.com/lam/articles/money/managing-money/money-market-account-or-cd-account" data-link-source="tiny">money market account or certificate of deposit</a>.
You'll want to think through the pros and cons. For instance, CDs typically have fixed rates over their term length, whereas money market rates can fluctuate over time, so your earnings may be less predictable. People tend to like the predictability of a CD, knowing how much they'll earn on interest, but the downside is they can't access their funds before the term is up without paying a penalty.
Others like savings accounts because there's often no minimum required to open one, and you can take the money out whenever you need. Money markets operate like both a savings account and a checking account, with high interest rates and the ability to write checks, along with the ability to sometimes make payments with a debit card (with restrictions on how often).
<h3>Explore a laddered approach</h3>
Staggering CDs or bonds can be a smart way to save more, suggests D. Randolph "Randy" Waesche, a financial professional and the president and CEO of Resource Management, LLC, in Metairie, LA, because it takes advantage of rising interest rates and can also help with cash flow.
Here's how it works: Instead of investing, say, $10,000 into one CD that won't mature for two years, you could take the same money and split it up into securities that will mature in 12, 18 and 24 months. This way, you wouldn't have all your money tied up for two years. In one year, you could take the cash from the first CD or reinvest it, possibly landing a better interest rate, and six months later, you'd have another chance to do the same thing.
<h2>Optimized investing</h2>
Your financial goals should be different for investing versus saving, says Mastrolia, and it helps to keep some guidelines in mind. Generally, she says, if you want your money to be available within three to five years, you should save it &mdash; which could mean putting it in short-term investments such as CDs, for example. But if you can go longer without accessing the money, and you have faraway goals that need funding (like saving for retirement or your kids' college funds), it's a good idea to invest it, perhaps in stocks and exchange-traded funds or ETFs.
This is because, even though there's always a risk when investing, "the market, on average, will provide a greater return," Mastrolia says. "If an investor can leave the money in the market for at least three to five years, statistically speaking, they are likely to make money." Here are questions to consider as you explore investing options.
<img class="right_image" src="https://www.lifeandmoney.citi.com/rcs/lifeandmoney/storage/public/SaveorInvest_BodyImage.jpg" alt="Couple sitting on a couch talking">
<h3>Go with an advisor or DIY?</h3>
If you'd rather make financial decisions on your own, there are apps and tools you can use to manage your portfolio and <a href="https://www.lifeandmoney.citi.com/lam/articles/money/managing-money/getting-started-with-mobile-investing-apps" data-link-source="tiny">make investments from your smartphone</a><a data-link-source="tiny">. </a>The DIY approach is less expensive, but you miss out on guidance and the professional point of view that an experienced financial advisor can provide.
An advisor's deeper understanding of the financial landscape and investing options can be particularly useful, especially if there's <a href="https://www.lifeandmoney.citi.com/lam/articles/money/managing-money/questions-ask-financial-advisor" data-link-source="tiny">market volatility</a>. It's the same principle as working with a real estate broker. Yes, you can sell a house on your own, but you may have a less stressful and more profitable experience working with a professional.
<h3>When's the ideal time to start saving for retirement?</h3>
It doesn't pay to put it off &ndash; the earlier you start, the more you'll have when you need it &mdash; and that means making your <a href="https://www.lifeandmoney.citi.com/lam/home" data-link-source="tiny">401(k) account</a> a priority, not only because contributions are tax-deductible, but also because employers often match 401(k) contributions up to a certain amount.
<a href="https://online.citi.com/JRS/pands/detail.do?ID=IRAInvesting" data-link-source="tiny">Individual retirement accounts</a> &mdash; IRAs and Roth IRAs &mdash; are other long-term savings accounts that are worth focusing on&nbsp;and are subject to contribution limits and other eligibility rules. With a Traditional IRA,&nbsp;the amounts contributed may be tax deductible at the time of contribution and, together with earnings, are taxable at the time of distribution. On the other hand, contributions to a Roth IRA are not tax deductible, but earnings on them may not be taxable when withdrawn when certain conditions are met.
If you're deciding which to invest in, keep this in mind: With a Roth IRA, the tax break comes when you retire, since you'll get tax-free withdrawals. That may sound great, and it is, but a traditional IRA's annual tax breaks might help you save more money every year. That said, if you fear you won't make shrewd financial decisions with the annual tax benefits, it may be best to go with a Roth IRA.
<h3>What are your goals and appetite for risk?</h3>
Experts tend to recommend diversifying your financial portfolio and sticking with safer investments the closer you are to retirement. You can also minimize risk with <a href="https://www.lifeandmoney.citi.com/lam/articles/money/savings/what-is-systematic-investing" data-link-source="tiny">systematic investing</a>, a process that uses data, algorithms and proven policies designed to grow your financial portfolio.
If you have decades to go before this stage, generally you can take more chances for a potentially bigger return; the thinking is that, if your investments lose money, you'll have time to try to recover it. Granted, markets will fluctuate and there are no assurances, but if you're in a position to wait, you may be able to limit any losses to paper. As Mastrolia points out, "If you look at the S&amp;P 500 as a proxy for the market return over the past 100 years, the average annual return was about 10%."
Building real wealth can take some balanced thinking, but it's worth weighing what you're putting away for the future with your spending choices today to land on your ideal spending-and-saving mix.
&nbsp;
&mdash; With additional reporting from Geoff Williams and Life and Money by Citi editors

Save or Invest? To Build Wealth, Try a Balance — Here's How.

For years, there was pretty much one investment playbook: If you weren't working with a financial advisor, you'd self-invest. Now, with robo-advisors there's an automated option too, and it can be tricky to pinpoint which strategy — or strategies — will work best for you.To bring some clarity, we're sharing the ins and outs of each. Read on for details that can help you make a smart decision.<h2>What is self-investing?</h2>Many people also refer to <a href="https://online.citi.com/US/ag/citi-self-invest">self-investing</a> as DIY investing, or do-it-yourself investing, and the concept is just what it sounds like; you are the one building and managing your financial portfolio. To get started, you sign up and open an account with a self-directed online brokerage. From there, after funding your account, you purchase and eventually sell stocks, bonds, mutual funds, certificates of deposits and other investments. The method comes with a mix of advantages and disadvantages.<img src="https://www.lifeandmoney.citi.com/rcs/lifeandmoney/storage/public/self-investing_body-2_1138999558.jpg" alt="A woman uses her laptop to invest" class="right_image" /><ul><li>Pro: You'll pay lower fees. Self-investing isn't free, but it is less expensive than using a robo-advisor or working with a financial advisor to self-manage portfolios. That's because there's no external management fee other than the costs already included in ETFs and mutual funds, says Eric McAlley, an assistant teaching professor of finance at Quinnipiac University who previously worked at an investment management firm as a fixed income portfolio manager, risk manager and head of operations. At most firms you'll pay no commissions on your trades. </li><li>Pro: You'll have substantial freedom. If you're the type who enjoys working alone, self-investing can be fulfilling, allowing you to be hands-on with your finances. You get to listen to your gut and invest in whatever you want without having a financial advisor or robo-advisor chiming in. You are only limited by the universe of securities offered by the firm where you opened your account.</li><li>Pro: You can learn as you invest. You'll likely develop a better understanding of how the market works, which can give you the confidence to keep building your wealth without having to pay advisor fees.</li><li>Con: Learning takes time. And time is money. In order to become a skilled investor, you'll need to continually stay on top of the market by researching your investments and individual companies, if you're buying stocks. And it's not just about learning to pick stocks that increase earnings, but also about how to properly allocate your assets among the available asset types (stocks, bonds and others) to reduce risk. It can be a while before you actually see earnings from your self-investing, and there is of course the real possibility of losing money when investing, which can be stressful. (Remember, professionals do this sort of thing for a living, and there wouldn't be robo-advisor programs if self-investing was a skill everyone could easily learn. The financial tool exists because successfully self-investing can be a challenge.)</li><li>Con: You need to stay organized. Self-investing entails rebalancing your portfolio from time to time because the status of your financial investments are always changing, and it's a good idea to minimize your risk as you get older. If you're 25 and investing, you can afford to lose more than if you're, say, 65 and approaching your retirement. (Some investors recommend the "rule of 100," which entails reducing your exposure to stocks every 10 years. In other words, if you're 30, up to 70% of your investments could be in the stock market, and by the time you're 70, no more than 30%.) While tasks like rebalancing are "relatively straightforward," McAlley says, "it's common for investors to occasionally forget."</li></ul><h2>Self-investing can be best for…</h2>Experienced and knowledgeable investors, McAlley says. And Lisa Whitley, a Washington, D.C.-based accredited financial counselor and chartered retirement planning counselor, agrees. "The right person to self-invest is someone with the discipline to sit on their hands when their emotions tell them to do otherwise," she says. "This means not only avoiding selling at the wrong time but also having the self-control to pass on concentrated, risky bets."Obviously, every self-investor starts out as inexperienced, and if you're new to this, it doesn't mean you shouldn't try to self-invest. But the prevailing wisdom is that you never want to invest more than you can afford to lose. Experienced investors have seen enough market shifts to know that it often takes a lot of time and patience for investments to accumulate wealth.<img src="https://www.lifeandmoney.citi.com/rcs/lifeandmoney/storage/public/self-investing_body-1_1365749419.jpg" alt="A man checks his investments on a phone while drinking his morning coffee" class="right_image" /><h2>What is robo-advising?</h2>Essentially an automated, algorithm-driven software program that offers financial planning and investment services, <a href="https://online.citi.com/US/ag/cwb">robo-advising</a> takes the human element out of the decision making. The investor answers questions from a robo-advisor on an investing website and shares their financial goals. In response, the robo-advisor matches you to a portfolio that is appropriate based on your answers. Once you fund your account or accounts, such as a Roth IRA or mutual funds, it will automatically make your investments and, just as importantly, monitor them 24/7. There are upsides and downsides to this approach.<ul><li>Pro: You can set it and forget it. "One of the great things about robo-advising is that it will automatically rebalance your portfolio for you," McAlley says. "For example, if your target allocation to stocks was 70% and your target allocation to bonds was 30%, the platform would maintain those targets and automatically rebalance a few times per year."</li><li>Pro: It's more affordable than you think. DIY investing is inexpensive, but robo-advising can be too. "Costs and fees vary from service to service. Some robo-advisor services are free of management fees for basic rebalancing services," McAlley says. Other firms may charge a management fee for their robo advising, he adds, "but the fees are generally lower than those from a full-service wealth manager." (Typically, annual fees are around 0.25% to 0.50% of an investor's assets for a robo-advisor compared with 1% to 2% of assets for a human advisor. That means if you had $100,000 in assets in a given year, you might shell out $1,000 to $2,000 for a human advisor to watch over your accounts while, during that same time, you'd spend only $250 to $500 for the robo-advisor to cultivate your wealth.)</li><li>Pro: It's emotion-less. "Robo-advisors follow a predetermined, automated set of rules when making investment decisions, and these decisions consistently align with an investor's goals and risk tolerance," McAlley says. "They autonomously handle portfolio rebalancing and adjustments according to these rules, without human intervention or emotional influence. This frequently results in more informed and streamlined decision-making processes." That said, you will still need to monitor your accounts regularly. If you think you spot a mistake, report the issue to your bank or investment firm right away in case any fees should be returned.</li><li>Con: Robo-advisors aren't human. Sometimes it is nice to be able to ask an experienced financial professional for answers or guidance on deciding where your money goes, especially if you're more of a newcomer to the financial market. That said, there are robo-advising hybrid models that offer the ability to bounce ideas off of a human financial advisor, and generally, those fees are going to be less than they'd be if you were using a dedicated advisor.</li></ul><h2>A robo-advisor can be best for…</h2>Someone who is serious about investing but has no interest in doing all of the work that goes into it themselves. If this is you, you can go with either a robo-advisor or a hybrid version that entails paying a little more for access to professional financial advisors who can answer questions. It also helps if you have a good sense of what type of financial future you want and can clearly articulate your investment goals, Whitley says. "Robots are pretty smart," she notes, "but they can't read your mind."If you're on the fence about self-investing or using a robo-advisor, you can always dab your toe in both to see which suits your financial personality best, or even stick with a mix long-term. Eventually if you feel you need a professional's touch, you can always start working with a financial advisor on a regular basis.Of course, the most important thing isn't whether you self-invest, use a robo-advisor or get advice from a financial advisor. It's that you're investing in building your future, such as creating wealth during your retirement years, in the first place.