3 SIMPLE TIPS TO BECOME A SUCCESSFUL INVESTOR
Easy Investing Tips – Fincon 2013
“Investing should be like watching grass grow or paint dry. If you want excitement, take $1,000 and go to Las Vegas.” Paul Samuelson
Investing and Financial Success
1. Spend with Intention
Intention is everything- Set priorities first. Every pay period you receive a certain amount of income. How you spend those dollars determines not only your today, but also your tomorrow.
Every dollar spent is a trade off between having something today or having much more in the future. Think about how to save money for the future.
Take $1,000 today from your monthly paycheck and invest in your future. In ten years, that $1,000 today at a 6% return (achieved by investing in a diversified investment classes portfolio) may grow to $1,819.40.
Keep that $1,000 invested today growing 40 years for retirement and that same $1,000 invested today at a 6% return (achieved by investing in a diversified asset classes investment portfolio) may grow to $10,957.45.
Do you want to spend $1,000 today on a couple of months luxury car payment or drive a more affordable model and boost retirement spending by $11,000?
Every dollar spent is a vote on your lifestyle. Spend today, sacrifice wealth tomorrow.
2. Start Saving and Investing Early
The greatest contributor to future wealth is time in the markets.
You may not care about your future today, but taking a small amount of your earnings, investing them with a diversification strategy in index funds allows you to have a financially successful life today and tomorrow.
Make every dollar work hard for you now and tomorrow.
3. Keep Fear at Bay and Invest Now
Sign up today for a Roth IRA investment account at a discount broker or through your workplace retirement fund.
Keep it simple and easy. Choose your asset classes; a diversified U.S. stock market index fund, a diversified international stock market index fund, and a diversified bond market index fund.
Get started now. Read the FREE 20 Minute Guide to Investing to give you easy to digest investing information. Then set your investing on auto-pilot and get on with your life.
Become successful with your money management and improve your life.
How do you overcome fear and motivate yourself to invest today? Have any tips for others?