Wealthy Women Daily Invest in Your Dream Life
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Are you ready to start investing?
If so, stop procrastinating and make this the year that you learn how to invest. Seriously, what are you waiting on?
Investing has been the golden ticket to financial success for many Americans. And you can add it to your financial plan too!
Don’t worry if you don’t have thousands of dollars or are deep in debt. Just work with a financial coach (like me!) who can help you become investor ready.
So if you’re ready to get started soon, start checking these items off your to-do list to protect your money and maximize your experience:
1. Assess your Financial Situation
What’s your financial situation?
How much money do you have left over after your expenses are paid?
If you can’t assess your own financial situation, how can you assess a company’s financial potential? Know your numbers.
Ask yourself, “how much can I afford to invest?”
Instead of guessing and pulling a magic number out the air, sit down with a trusted financial coach to discuss your financial story.
Once you’re able to confront where you are on your financial journey, you can review your financial figures to determine what you need to do to get where you want to go.
2. Build a Savings Safety Net
If you haven’t mastered the idea of saving or paying yourself first, you might want to rethink your ability to be a responsible investor.
The stock markets aren’t as predictable as many would hope it to be. Sometimes you’ll see major victories in your portfolio and sometimes the stock prices will quickly tumble.
You can’t rely on the money you have in the markets to help with your living expenses over the next 6 months. Your investments shouldn’t be your backup plan.
Create a savings account that you can run to when an emergency arises. Then build your savings up so you can have at least 3-6 months of living expenses available if you need it.
3. Learn the Basics of Investing
Don’t get so excited about investing that you convince yourself to dive in when you have no idea how it works.
Learn about the markets. Become familiar with investing lingo. Do what it takes to get the education you need to get started in the right direction.
This doesn’t mean you have to enroll in a degree program at a prestigious university. That may cost you over $50,000 and years of time studying topics that may not even relate to investing.
All you have to do is search for an in-person or online course that meets your learning needs. Another option is to follow your favorite investing mentors and sign up for one of their programs to get you up to speed.
As you navigate the world of investing, always remember that it’s a never-ending learning process. Fight the need to be perfect and focus on making progress. Soon, you’ll be able to position yourself and future generations for wealth because of the crucial steps you decided to take today.
Need a Financial Coach?
You don’t have to be alone on this journey. Work with me and I’ll get you ready for the journey ahead. I’ll help you:
- Create a financial plan
- Determine your retirement goals
- Pay off worthless debt
- Purchase a new home
- Decrease unnecessary expenses
- Build your assets
- Prepare for life as an investor
Send me an email at wealthywomendaily@gmail.com. I look forward to working with you!
Grab Your Copy of “Dividends Are a Queen’s Best Friend” Available on Amazon!
If you’ve ever wanted to learn how to invest but didn’t understand the lingo, here is the book for you. Dividends Are a Queen’s Best Friend is a female-friendly book that will show you how to get started and keep going on your journey!
You’ll learn:
- How to earn income from your investments
- An easy way to create a watchlist of potential investments
- A step-by-step process to start your investing journey
- Lessons learned from investing during the Great Recession of 2008
- A list of “On Her Terms” to help you overcome the intimidating lingo
