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Two key investment tips to make your money work for you

Two simple rules to start investing

Niall Ferguson, a senior fellow at the Hoover Institution at Stanford University, says there are a few big things to keep in mind when you start to invest money for the first time.

"Investment doesn't require you to have a million dollars in spare cash," he says. "It just requires you to take the risk of devoting your time to starting something completely new, which you own."

"It's a good idea to invest on the basis of real insight," he says. "I tend not to invest in things I don't understand."

Watch this video to find out more of Ferguson's top investing tips.

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Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.