Investing For The Future

Not many people stumble into financial security through sheer luck: a lottery win, big inheritance, or huge stock winnings.

For most of us the only way to financial security is a long term plan of saving and investing.

Consistency is key to reaching long term goals no matter your income. The sooner you start saving and investing, the longer your money has to compound and grow.

Set goals for how much of your income you will invest monthly and stick to it. Keep investment money and cash reserves separate so you won’t dip into your investment account when the market is down. Keep expenses low and spend on what is really important to you whether it is experiences or material things.

Try to avoid the big mistakes, like buying a home that is more than you really need or creating a heavy debt load.

If your employer offers a matching 401(k) contribution, be sure to take advantage of that option and contribute at least enough to receive it. It is essentially extra income that will grow and compound and is not taxed until you withdraw it.

You can do it yourself but it probably makes more sense to work with a financial advisor who is more

knowledgeable about financial markets. An advisor will help analyze short term vs long term needs, separate emotions from objectives as well as help with devising a portfolio and strategy suitable for your needs.

Investing consistently over the long term is the best way to grow your wealth as there is no way to time the market.