When it comes to online courses on personal finances out there, they certainly run the gamut. Many of them stress different methods and angles of managing your money – but very few (I've found) teach specifically about investing.
This is why we were excited to review the Multiply course offered by Sound Mind Investing (SMI). Our friend at SMI, Matt Bell, gave us a chance to go through the course and we'd like to offer our thoughts on the study if you are wanting to learn more about investing too.
About Sound Mind Investing
I want to first tell you a bit about the creators of Multiply, Sound Mind Investing. Started in 1990 by Austin Pryor, SMI produces content about mutual funds, ETFs, and personal finance. They reach thousands of people each month through their website, monthly investment newsletter, books, videos, media appearances, and speaking engagements.
They offer all this advice through a Biblical perspective. Even if a person isn't Christian, I think you can find a lot of helpful education through SMI.
My experience with Multiply study
As I mentioned, there are a plethora of personal finance courses out there. I was happy to go through Multiply study because I've rarely found many courses about investing. One of SMI's aims is to make the complex, easier to understand (like investing).
I can tell you that sometimes we shy away from writing about investing because it can be more complex and a bit more nebulous. And, it can be different from person to person as everyone has different risk tolerances and is at various stages of their life (just graduated from college to just retired).
This is one of the things SMI does well with Multiply. They've laid out the course in an approachable manner.
According to Bell, “Multiply will teach you the essentials of stock market investing, leaving you with an investment plan tailored to your unique circumstances and goals, along with several options for how to execute the plan.”
Four sessions make up the course:
- Who Needs the Stock Market?
- Managing Risk
- The Least Taxing Way to Invest
- Putting it All Together
Each session lasts about 15-20 minutes and the whole course can be completed within an hour or so. The sessions are taught by two of SMI's staff: Executive Editor, Mark Biller, and Bell, the Managing Editor. They both have a laid-back, friendly teaching style.
Multiply is available as an instant digital download or stream (including a discussion guide) for $22.95. Customers can also download/stream just the course itself (without the discussion guide) for $19.95 or grab the discussion guide by itself (about a 60 page PDF) for $6.95. Obviously, there are savings in purchasing the bundle.
Who I think the course is good for
While Multiply is great for anyone looking to get a better understanding of investing, I feel the course would be great for the following audiences:
- Ministry organizations
- Small groups
- Any individual looking to get a foundational knowledge of investing
Who the course is not good for
Along with people, I think the course could be good for, I'm not sure the course is suited for the following:
- Experts in investing
- Or you already have a good handle on investing
- Warren Buffett
If you are already well on your way with investing, know the differences between Roth 401k / IRAs, inflation risk and compound interest, you can probably pass on Multiply.
Multiply is best suited for those looking to get a good overview of investing principles, and how best to position yourself for investing success. It also gives a good foundation of Biblical principles around investing (which I found helpful).
Overall, I am excited to share the course with you – and hope you get a chance to check it out. It won't take a lot of your time and is reasonably priced.
I would love to hear if you've heard of SMI, or have taken the Multiply course.