Secure Your Future Series: Start Investing
Personally, I am an extremely low-risk individual. Risk makes me queasy, however, investing and diversifying your money can give you a security blanket if something unexpectedly goes wrong. So where should you put your money? Where do you start?
Honestly, this is going to be a short post, I don’t consider myself an expert in the investing world. But I wanted to be thorough, give you my thoughts and tell you the options that my husband and I are exploring.
Personal Risk Assessment
First, you need to determine the kind of risk you are comfortable with taking. If you are married, make sure your partner is on board as well finances can be a serious strain on a relationship. If you are not comfortable with making the leap of investing yourself, that’s okay, your best move would be to contact a financial/investment advisor. It is wise to consult with an expert you trust and who is well versed in the investment world to guide you through.
Or if you would rather be completely hands-off, these experts can take your money and make investments for you based on your wishes and goals for that money. As always do your research; ask questions, check forums, and tap into the experience of those individuals that are already in that world, people you trust.
With everything that we have gone through in 2020, I feel that it is important to make an effort to support local businesses/ investors. Sometimes the best investors or experts in their field can be found right in your hometown.
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The information provided on this site is based on my own personal experience and is not to be construed as professional advice. I am not a financial advisor or planner, nor am I a CPA. The contents of this site and the resources provided are for informational and entertainment purposes only and do not constitute financial, accounting, or legal advice. The author is not liable for any losses or damages related to actions or failure to act related to the content on this website.
Our Investing Choice
So what do we do? There are many great options out there but there are very few options that my husband and I are comfortable investing our money in, one of which is real estate. Real estate allows you to build equity, is a protection against inflation, and allows you passive cash flow.
We are looking to diversify within real estate; long-term rentals, vacation rentals, etc. We are in the process saving to purchase our first rental I will update you as we go through the process and learn more. Trust me when I say this was not a spur of the moment decision. My husband and I (giving my husband most of the credit) have spent countless hours researching everything there is to learn and what is needed to get started. This is something we are comfortable with.
The goal here is to be completely honest with where we are so you can decided what is best for you. While I don’t know the ends and outs of investing, what I want you to get out of this is to do what works for you and your family. Decide what you are comfortable with, allow for growth and learning but don’t let others make you feel like you are not keeping up.
Also don’t be greedy, I know that’s blunt. For our family, investing is about providing security for our family for the future, while providing financial freedom to do as we please. However, we also agreed that our family; spending quality time with our kids, teaching them, and maintaining a strong bond with them will always come first. Another important priority is being able to help our community and those in need. Building up those around us.
So the point is, set your priorities now. What is important and write it down. That way, when you dive down the rabbit hole of investing you never forget what is really important.
Wrap up
That’s enough sentiment for now. If you are interested in learning more about investing check out the sources below because let’s be honest…. this post was jam-packed with useful info (wink, wink).
So feel free to explore. Let me know who you feel has the how-to. What are your thoughts?
Until next time!
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[mailerlite_form form_id=3]References for Investing
Panel, E. (2018, April 12). Council Post: 10 Tips To Offer People New To Investing. Retrieved July 15, 2020, from https://www.forbes.com/sites/forbesfinancecouncil/2018/04/12/10-tips-to-offer-people-new-to-investing/
Barret, L. (2020, May 22). Beginner’s Guide To Saving For Retirement. Retrieved July 15, 2020, from https://www.moneyunder30.com/beginners-guide-to-saving-for-retirement
Beattie, A. (2020, June 05). 4 Simple Ways to Invest in Real Estate. Retrieved July 15, 2020, from https://www.investopedia.com/investing/simple-ways-invest-real-estate/
O’Shea, A. (2020, June 25). How to Invest in Real Estate: 5 Ways to Get Started. Retrieved July 15, 2020, from https://www.nerdwallet.com/blog/investing/5-ways-to-invest-in-real-estate/
Langager, C. (2020, April 20). A Beginner’s Guide to Stock Investing. Retrieved July 15, 2020, from https://www.investopedia.com/articles/basics/06/invest1000.asp
Introduction to Investing. (n.d.). Retrieved July 15, 2020, from https://www.investor.gov/introduction-investing
Goldman, A. (n.d.). Investing 101: Investing Basics For Beginners. Retrieved July 15, 2020, from https://www.wealthsimple.com/en-us/learn/investing-basics
Kennon, J. (2019, October 10). Here Is the Basics of Investing and the Different Types of Investments. Retrieved July 15, 2020, from https://www.thebalance.com/investing-basics-6-different-types-of-investments-4056847
