The Basics—Why Should I Invest – February 19, 2020
Before you begin to save and invest, you must have financial goals.
There must be a “why I’m saving” before there is a “how to save.”
- There will always be hurdles, obstacles, and risks when saving and investing.
- Are you saving for retirement, your kids’ education, a down payment on a home, or something else?
Understand why you are doing without today so you can achieve something better tomorrow. If not, it’s too easy to get sidetracked.
Be a student, get educated
Understand what is required to become a successful investor.
- Design a plan and implement that plan.
- Be very leery of get-rich-quick schemes or loading up on unknown companies that promise alleged riches.
- Understand the importance of diversification.
Recognize that there is risk and day-to-day volatility, but running to cash when uncertainty arises comes with a trade-off: your longer-term goals.
Investor’s corner
Space constraints in this format limit a more in-depth discussion, but those who set financial goals, design a holistic financial plan, implement that plan, and maintain a disciplined approach are within reach of their financial goals.
You may be on that road today, or you may be educating yourself via reputable resources.
However, if you unsure how to get started, we’ll be happy to provide you with resources that point you in the right direction.
Created 2020-02-19 18:02:03
