Investing 101

Wealth Witches

Investing doesn’t have to be scary, and you don’t need a huge amount of money to get started. Just know that you’re really missing out if you’re only using savings accounts. Even high-yield savings accounts don’t keep up with inflation.

Looking at retirement investments like IRAs, 401ks, or 403bs, you’ll have to choose some investment funds. Over a 10-year span, the stock market has always gone in an upward trajectory. I’m not talking about day trading, I’m talking about the long haul.

• If you have existing accounts right now, you should go in and make sure they’re properly invested in funds in the stock market so that they can actually grow!
• Whether you’re using an investment broker, a fiduciary, or a roboadvisor, do some research on Socially Responsible Investing and Environmental Social Governance investments and stocks and decide how important that is to you.

How do you get started with investing?

1. If you have a retirement plan through an employer, make sure you’re getting the match. If not, get an account set up.
2. Diversify. Retirement accounts have tax advantages because they have to sit there until you’re 59.5 years old. Using a brokerage account can fund your future before you hit that age.
3. Leave it alone! The magic is in the compounding interest.

What’s the opportunity cost in not having your money invested?

We cover ALL of this in the “Get Your Finance Sh*t Together” self-study course at confidentmoneypodcast.com!

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DISCLAIMER: I am not a financial advisor and this is not financial advice. My podcast is for educational purposes and is my personal opinion only. To make the best financial decision for your situation, please do your own research and if needed, seek the advice of a fee-based, fiduciary.

Music credit: Neon Fairies by Wolves

A Podcast Launch Bestie production

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