Dr. Ming, thanks for sharing. For the stock market, new investors should focus on low-cost index funds rather than trying to pick their own stocks. There are lots of studies about this, but anyone can read a book like "The Little Book on Common Sense Investing" by John Bogle to better understand why index investing is so powerful.

With the money flowing into index investing, then a new investor can take the time to learn about other investments that interest them like real estate or individual stocks.

Financial education is more important than formal education. No one learns how to get rich in school, so we have to learn it on our own through self study and practice.