Did you know that the question “How can I start investing?” is one of the most commonly Googled search terms?
It’s one of those questions that can be soooo simple – but also feel overwhelming and complicated. I often tell our clients, it helps to have a “filter” for this sort of thing (like a financial planner!) so you don’t waste your time on something that ultimately won’t work for your situation.
But I surveyed the crew – the financial planners here at Creative Money – and this is what they said:
“Getting started with investing is easier than it seems. A great way to get started is to automate your investments with as little as $10 a month in a brokerage account. First, figure out your ‘why’ and set your goals. Begin with simple options, like low-cost index funds. By automating regular contributions, your money will grow over time. Keep those goals in mind, stay consistent, and keep learning along the way!”
“It’s often easier than you’d think! The first step would be to decide if you want to save into a retirement type account, or an individual brokerage account. A retirement account can have great tax advantages, but is often inaccessible prior to retirement without penalty. An individual brokerage account can be opened at any time without limits on how much you can save into the account. Investing in broad index funds is a great bet – they are simple and inexpensive and well diversified.”
There you have it. Is getting started on a deep dive into investing a priority this year? Then I recommend you chat with us sooner than later… you can find out more about that here.
