The 6 Steps To Take To Invest Your First Dollar – Yes, It’s Really This Easy!

How To Start Investing - 6 Investing TipsI always say the first thing you need to do if you want to start investing is to just jump in. However, what if you don’t really even know how to start investing?

If you are like many out there, you may not know how to start investing your money.

Investing your money can be a scary, stressful, and overwhelming topic to tackle. With today’s post, I hope to make it easier than ever with my beginner investing tips so that you can start investing your money and building a retirement fund as soon as possible.

Just as a refresher, you want to invest so that you can:

  • Retire one day;
  • You never know what may happen in the future, so preparing now is important;
  • Allow your money to grow over time.

Investing is important because it means you are making your money work for you. If you weren’t investing, your money would just be sitting there and not earning a thing.

This is important to note because $100 today will not be worth $100 in the future if you just let it sit under a mattress or in a checking account. However, if you invest, then you can actually turn your $100 into something more. When you invest, your money is working for you and hopefully earning you income.

For example: If you put $1,000 into a retirement account that has an annual 8% return, 40 years later that would turn into $21,724. If you started with that same $1,000 and put an extra $1,000 in it for the next 40 years at an annual 8% return, that would then turn into $301,505. If you started with $10,000 and put an extra $10,000 in it for the next 40 years at an annual 8% return, that would then turn into $3,015,055.

Below are the steps you should take so that you can learn how to start investing your money. [Read more…]

Understand Portfolio Expenses and How They Can Impact You #DRAFTISCOMING

Investing your money and preparing for retirement can be a great thing, but investment fees are something that many do not think about. If you are skipping this step then you may be making a big mistake.

Shocking facts.

I recently came across some interesting facts about investments fees.

There is almost 10 times more money invested in mutual funds than exchange traded funds in the United States.

Over 75% of investors in the U.S. own a mutual fund. [Read more…]

Blooom Review – A 401k Manager

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“One of the best online tools for retirement planning.” – The Wall Street Journal

“Making the complex world of 401ks more comprehensible.” – Forbes

“One of the World’s Top 10 Most Innovative Companies of 2015 in Personal Finance.” – Fast Company

All of the quotes above are referring to blooom, which is a company I believe can truly help many with their retirement. [Read more…]

Reaching Financial Independence IS Possible And Here’s How You Can Do It

Financial Independence - How To Become Financially Independent (3)One of my top goals in life is to reach financial independence. I technically want to be financially independent as well as an early retiree, but to make this post simple we will mainly talk about becoming financially independent.

Financial independence is when you earn enough income passively (such as through rental real estate or dividend income) to cover your expenses.

This way you can leave a job you dislike and pursue other passions in life such as spending more time with family, traveling, seeking a job you love, and more.

I want to reach financial independence so that my investments are working for me and earning me money. This way my future costs are covered and I’m still bringing in an income in case anything happens in the future.

Now, don’t get me wrong. I absolutely love life and my online business. However, I would rather be safe because you never know what may happen later in life. As you know, I’m a worrier and I would much rather be safe than sorry. Something medically may occur, the industry may change, I may change, and so on.

You just never know! [Read more…]

Do You Have An Emergency List For Your Family?

Financial Emergency List For An Emergency Response PlanIn our household, I manage most of the bills, financial accounts, and more. I know I’m not alone either – in most families, one person usually handles all of these things.

I’ve been in charge of our important information for years, mainly because it’s just something I know I can do and we’ve fallen into a routine now after doing this for so long.

Recently though, we realized that this could turn into a financial emergency disaster. I manage everything just from my memory, so nothing is actually written down and most of our bills are either auto-pay or paperless, so there is no paper record in our house of anything either.

This could be a financial emergency disaster because if something were to happen to me, I honestly do not know what Wes would do. It would make everything much more difficult for him when he would already be having a hard time, and that is not something anyone wants to deal with. Having some sort of financial emergency response plan is something we need to create.

While to some this situation may be no big deal, I know there are many, many families out there who would be very lost if something were to happen to the person who usually manages their financial situation. Accounts could get lost, bills may be forgotten about, and more.

It’s best to keep a financial emergency response plan of everything just in case something were to happen, even if it’s something no one ever wants to think about. Having one just makes life so much easier.

Below are three easy steps to creating a financial emergency response plan for your family. [Read more…]

Is My Employer-Provided Life Insurance Enough?

If the company you work for offers group life insurance, be sure to take advantage of this great benefit.  Employers are not required to offer life insurance, so if yours does be sure to count your blessings.  While having group life insurance is a nice bonus, it would be wise to consider purchasing additional life insurance on yourself. [Read more…]