Investing in the stock market can be life changing. Even simply contributing up to the employer match in your 401(k) can drastically change the lifestyle you can afford to enjoy during retirement. But just because investing can drastically improve your finances, you can really screw up your financial life if you don’t get some basics right. That’s why it’s so intimidating for many to get started. It’s not so much that it’s mentally taxing to invest in the stock market or that the basics are hard to learn. It’s the emotional aspect of investing that so many people find hard to control. If you are someone who’s intimidated by the power of investing, this post is for you. This post will give you the confidence to begin investing right away.
Set a Goal
It’s important to give yourself a reason to invest. Pick one of two ways to frame your investing goal. The first option is to frame it in a way of looking at what you’ll get by investing: a new Corvette, for example. The second way is to consider what you will lose if you don’t invest. For example, you may not be able to retire early, spend more time with the grandkids, or travel much…
Use whichever method works best for you, but set a goal. A goal will give you hope, hope brings action, and action brings achievement.
Take a Tested Approach
Investing in the stock market seems scary because there is a silly stigma surrounding it. Most people think investing is risky, scary, and only for rich people. But many, many people invest in the stock market. It’s the way most people save for retirement. Something this widespread cannot be terribly difficult.
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