Do you think that you have to have someone else manage your investments for you?
Are you too busy to even worry about saving for retirement?
You know you should, but it just is not a priority right now.
Unfortunately, everyday that we let go by means we have to save that much more later on. The sooner you start to invest the better.
This doesn’t have to be overwhelming and it can be super, super easy. You don’t need to call anybody. You don’t need to worry about 10 gazillion investments and I’m going to teach you how to do this super quickly.
Set aside a bit of time, and you can have your investments up and running, one hour should do it.
Step 1: Set up a brokerage account at one firm. No need to have everything scattered all over the place. Try and find one that you like that can service not only your current needs but that you can grow with. bonus points if it can cover both your personal needs and business needs.
Examples of major firms: Fidelity, Vanguard, T. Rowe Price, TD Ameritrade, and Charles Schwab.
Step 2: Select an index mutual fund. Mutual funds vs stock trading will reduce the amount of time you need to invest. With an index fund you will get market return. This is a big time saver, and a great way to invest without hassle.
Step 3: Set up an auto draft monthly to go from your checking account to your investment. You don’t have to worry about transferring the money it just does it automatically! Investing without one more to do item for your list!
Step 4: Check once a year to make sure you are on target for your goal. Find an online retirement calculator that you like and adjust your investments as needed. (This article has a retirement calculator at the end: How to Create a Financial Planning)
Action time: sit down right now and get this all set up! Don’t have time right this minute? Schedule an appointment with yourself to do it – and keep that appointment.