Question: Connie in Colerain Township: My son is 22 and wants to start investing. But I don’t have much experience with it, so I don’t think I can help him much. Can you share some advice?

A: Of course! We’re happy whenever a young adult shows interest in investing and long-term planning. And quite honestly, that’s the first distinction we want to make: Your son needs to understand there’s a difference between long-term investing and stock picking (or day trading). It’s likely he’s heard of certain apps and websites that allow him to buy and sell stocks (or cryptocurrency) from minute-to-minute. But in this case, short-term profit is all that matters; in our eyes, this is akin to gambling. At Allworth and on our Simply Money radio show, we promote long-term investing – having a goal, making an investment plan to reach that goal, then sticking with it.

Additionally, he should think about both short term and long-term goals. For any goals within two to three years, just a plain-old bank account is fine (that money shouldn’t be exposed to any market risk). Same goes for an emergency fund – he should use a savings account for this money, and it should cover at least three months of critical living expenses.

For longer term goals such as retirement, a simple index fund that tracks the S&P 500 (the 500 largest companies in the U.S.) is a good starting point. And at this age, it’s OK if he’s stock-heavy since he has decades to ride out the ups and downs of the market. (Plus, with markets currently down, he'll be ‘buying low’ – he should consider himself lucky!)

And if he has a 401(k) through work, he should save at least enough to get the match (if offered). If his employer offers a Roth 401(k), saving in that is an even better idea since he’ll get tax-free growth. If he doesn’t have a retirement plan through work, he should open up a Roth IRA through a brokerage firm like Vanguard, Fidelity, or TDAmeritrade (he can also do this even if he does have an employer plan). And he should never take money out of retirement accounts early.

The Allworth Advice is that your son should focus on time in the market, not timing the market. Consistency and time will do more for him in the long run than anything else. And while there may be temptation to get fancy with his investments, simple is usually best.

Q: Tim from Lawrenceburg: What’s your thought on having more than one credit card?

A: This really comes down to what you see when you look in the mirror. Because whether or not it’s a good idea depends on you and your credit behavior.

If you’re someone who’s responsible with one credit card, meaning you pay your bill on time every month and in full, then having multiple cards can be beneficial. You could sign-up for different cards depending on the rewards program and work each of those programs to your advantage. In this instance, however, you would still need to be careful about not increasing your spending just because you have more cards and a higher combined credit limit. As we’ve mentioned in this column before, it’s critical to keep your ‘debt utilization’ under 30% every month.

On the flip side, if you come to the realization that you’re not exactly the most responsible with credit, then stick with one card for now. Work on changing your habits. Then you can think about ‘graduating’ to an additional card or two.

Here’s the Allworth Advice: Having multiple credit cards can give you more financial flexibility. But doing so is only advisable if you have the proper discipline.

Every week, Allworth Financial’s Amy Wagner and Steve Sprovach answer your questions. If you, a friend or someone in your family has a money issue or problem, feel free to send those questions to yourmoney@enquirer.com.

Responses are for informational purposes only and individuals should consider whether any general recommendation in these responses is suitable for their particular circumstances based on investment objectives, financial situation and needs. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional adviser of his/her choosing, including a tax adviser and/or attorney. Retirement planning services offered through Allworth Financial, an SEC Registered Investment Advisor. Securities offered through AW Securities, a Registered Broker/Dealer, member FINRA/SIPC. Visit allworthfinancial.com or call 513-469-7500.

This article originally appeared on Cincinnati Enquirer: Allworth Advice: Investing tips for young adults