For many of us, our efforts to start saving or investing are often encumbered by the reality that both saving and investing can lack excitement in the initial stages. The good news is that once we get past that hurdle and are able to see the results, they can be intoxicating. However, they both require our commitment.
I have already spoken enough about saving and we know that to be successful with it, we have to temporarily give up on many of the things that we do not need. This is contrary to how many of us think, but we should envision saving as a process that starts small but gain size and momentum, similar to a snowball’s formation, and it is to our advantage to start as soon as possible.
Investing can be more exciting in the initial stages than saving, but depending on our methods and performance, it can lose its luster and cause many to just move away from it soon after they start.
In some upcoming posts, I am hoping to make investing more bearable by sharing what I consider to be simple ways to invest. For those who get excited about picking individual companies, I will include simple but important ways of assessing such companies.
As a reminder, please know that I firmly believe that investing outside of an employer-sponsored plan should come after establishing a decent saving structure. Stay tuned and be safe.