If there's one thing financial experts agree on, it's this: It's never too late to start investing.
This chapter and conversation gives you the extra push you may need to put your money to work for you. Download the Just the Facts: Investing Worksheet to help you understand the benefits of investing early.
First things first.
Get your financial house in order, first and foremost. Make sure your goals and aspirations are identified, plans are written down, and your budget is rolling before you jump into investing.
With other budgeting in place, investing could add to your plan without disrupting what you already have working for you.
Maximize your returns.
When you start investing early, you give your money the chance to grow with the help of compounding interest. Also, creating a longer time horizon for your investments makes it easier for you to weather the ups and downs of the market.
Get comfortable before you go for it all.
Test the investing waters before you jump in. Start with a small amount of money and observe what happens. After you get a sense of the market, add more and more based on what you're comfortable with.
Your Chapter 2 Checklist:
- Watch the Why start early? video
- Download the Just the Facts: Investing Worksheet
- Figure out how much you're ready to invest