Smart Thinking On Investing – July 2
Smart Thinking On Investing – July 2
Investing Know-How
- Take advantage of employer’s matching contributions to your 401(k); they’re pre-tax too so you save on taxes as well
- Be careful about investing in individual stocks, diversify your stock portfolio for lower investment risk
- Investing consistently over decades will prove more lucrative over the long run and be aware of fees when selecting mutual funds, check out sites that list commission-free ETFs instead
Don’t Make the Same Mistakes
- Speculating in stocks is the same as gambling with your money, but if you’re going to invest in individual stocks be sure to stay calm as stocks will rise and fall
- Trying to time the market works for no investor; young or old and panic selling is just as bad as buying stocks without doing your own research first—don’t just rely on recommendations
- Ultimately, have patience; stocks go up and down, the market will always recover, and serious wealth accumulation takes years—all truisms to remember
Becoming Budget Savvy
- The best way to know your financial situation is to view it clearly; catalog your bills, savings, investments, and debts all in one place
- Budget wisely; work out how much you expect to make each month, remove what you need for bills, and decide how to allocate what’s left over—then stick to it 😉
- Set yourself goals to work to; what you need for an Emergency fund, what you would like for retirement, and also what you want to splash out on—just as importantly
Got any budget tips you’ve found work for you? Share in the comments section below
How to Mix Love and Money
- Communication is the key; be open and honest about your finances from debt to saving
- Be sensible, plan ahead and draw up a financial agreement; include financial goals that work for you both if you’re together and—if the unfortunate happens—apart
- Decide how you both want to save your money, and just as importantly, spend it, work out a budget you’re both happy with and talk regularly to keep money from becoming an issue
Comics: Your Investment Heroes or Zeroes?
- Comics are printed in the hundreds each week, and value goes up and down due to a lot of factors; new characters, movie releases, and buyers’ interest
- Age and condition also matter; be sure to maintain any value they may have now—or in the future—by protecting them, safety deposit boxes work best for this
- But don’t put all your eggs in this one basket; invest as a sideline but boost your financial portfolio by being invested in other assets too—it’s all about diversification
Do you want to start investing on your own, but don’t know how?
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DISCLAIMER: This content is for information purposes only. It is not intended to be investment advice. Readers should not consider statements made by the author(s) as formal recommendations and should consult their financial advisor before making any investment decisions. While the information provided is believed to be accurate, it may include errors or inaccuracies. The author(s) cannot be held liable for any actions taken as a result of reading this article. Andrew Stotz doesn’t necessarily endorse any stocks or shares mentioned in the articles or the author of such articles linked to and summarized in Smart Thinking On Investing and cannot guarantee the accuracy of its information.