The Five Financial Goals-Investing

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Investing-The Final Of The Five Financial Goals

Investing is really the only way that you can expect to attain financial independence within a reasonable time frame, unless you are one of the few lucky people who make the wages of a professional athlete or an actor or the head of a Fortune 500 company.

For the vast majority of us, investing is the most reasonable method to use to accumulate wealth. Investing is not, and never should be, confused with gambling. Gambling is buying lottery tickets and betting everything on red. That isn’t investing, at least not the type of investing that I would want to recommend.

There are as many types of investing as there are investors , and no one kind is perfect for everyone. I investments recommend that you start off with one that you know and that you feel comfortable with. For some folks that is going to be buying gold and silver coins, because that is something they can hold in their hands and check its value as often as they want. For others, their investing will start with government bonds because they have such low risk.

Golden Rule Of Investing-Start Small, Go Slow

As time and financial education permits, move into other forms of investing as you become familiar with them. One of the great learning tools that schools and universities use is to make ‘paper investments’, where investing is done without actual purchases being made. You can ‘buy’ a group of stocks, bonds, future options or anything else, and then track it over a period of time to see if you would have made or lost money. Be sure to include all the fees, trade costs and registration fees that would be incurred prior to calculating your return.

Investing is all about black and white results, there are no areas of gray, so make sure you educate yourself about all the risks and rules before you plunge in. There are a ton of terrific resources available, online and in print, without having to spend a fortune getting advice from a so-called professional advisor.

Most of the investing houses and even some banks will give you a free consultation (without having to commit to any purchases), where they will review your financial goals and even help you set up a bit of a financial plan. Don’t be shy and make sure you ask all the questions you want, including how much anything will cost. If you have any confusion at all, stop them and ask and don’t proceed until you are comfortable with the answers that you are getting.

This concludes the series on the top five financial goals. They are not the only goals, merely elementary goals fundamental to any financial plan.

Till Next Time….

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Sigrid McNab

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About Sigrid McNab

Sigrid McNab is the author of #1 Amazon Best Seller, speaker and the CEO and Founder of sigridmcnab.com. Sigrid specializes in blogging, attraction marketing, and generating highly qualified leads. Sigrid teaches people how to build a successful online business.

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2 Responses to “The Five Financial Goals-Investing”

  1. Hale Yes Says:

    Thanks Sigrid,

    I’ve enjoyed your series. Still don’t know if investing is something I’m going to focus on, but it is interesting.

    Hale
    Hale Yes recently posted…Don’t Break the Chain – Productivity Tip for Overwhelmed Internet MarketersMy Profile

    [Reply]

    sigrid Reply:

    You are very welcome Hale….

    [Reply]

    Reply

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