Investing isn’t just for Wall Street types, it’s something anybody can – and should – do. No matter what your goals are for the future, making a plan and getting started with investments will help you go from “I wish” to “I will.”
Pay yourself first. Make it a priority to set money aside for your future.
Keep it steady. Little contributions add up over time, especially when you stick with a plan.
Watch it grow. Even in a marathon, every step is one step closer to reaching your goal!
You Can Do This
A lot of people put off investing because they think they don’t have enough money to get started or they’re intimidated by how complex it might be. But here’s the truth: anyone can start investing at any time! Setting money aside for the future doesn’t have to be complicated. It also doesn’t have to involve large sums of money – products like certificates and Dupaco’s Launchpad can help you get started. And the sooner you start investing, the sooner your money can start earning money for you!
Here are a few tips to get you started.
Where do you see yourself in 5, 10 or 15 years? Having a vision of your future will help you start planning what you need to do to accomplish your goals. Some types of investments work best over the long run, while others can help you reach a shorter-term goal. You don’t have to figure everything out yourself (that’s what experts are for), but you do need to have a sense of what you’re trying to accomplish.
Working with a trusted investment adviser can take the stress out of investing. Your adviser can help you figure out what your risk tolerance is, which products or services are most likely to help you reach your goals and what you can be doing to turn your dreams into reality.
If your employer offers a 401(k) with a matching program, take advantage of that! It’s basically free money. Even if it’s only a small amount, it can make a big difference in the long run. Another smart strategy is to contribute the maximum to a retirement account if you have one.
Setting up recurring transfers makes it easier to pay yourself first. Another good habit to get into is investing any unexpected windfalls rather than spending them. Did you get money back on your taxes? Inherit a few dollars from a relative? Win more than a couple of bucks in the lottery? Put at least a portion of that amount into your investments to help them keep growing.