Athena’s Top 3 Tips about Investing

shutterstock_1634398621

Pay yourself first

You know the scenario, it’s payday and before you know it bills are paid and you’ve already planned three dinners out with friends. Your budget is wiped out and you did not add to your savings. One of the best methods to ensure that you are hitting your savings goals is to pay yourself first.

If you treat yourself and your savings as if they are a bill, you can ensure that each and every month you are adding to your nest egg. Another way to bump up your savings is to use technology to your advantage and make your monthly savings an automatic transfer.

Understand compounding

If you are curious about how long it would take to double your money, there is a helpful rule of thumb that will give you a quick way to figure that out. The Rule of 72 states that if you divide 72 by the amount of interest/gain that you are receiving you will determine how many years it will take to double your money. As an example, if you have $5,000 saved/invested and are making 4%, take 72/4 and that tells you that it will take 18 years for you to reach $10,000. This is the concept of compounding. The more return you make the faster your money will grow BUT if you follow tip #1 you can accomplish your goals all the faster.

Stay focused on the long-term

It is easy to get buried in historical returns as well as predictions of the future. More often than not, you will not hit a home run on a stock pick and have a windfall. Keeping focused on consistent saving and investing for the long-term is the secret to investing success. This strategy takes emotion out the equation. You never sell too soon or buy too late. Keeping a long-term perspective focuses you on what really matters – the achievement of your goals. As an added benefit, long-term investment usually reduces both taxes and fees. Keep your eye on the prize!

 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Saturday, 23 September 2023

By accepting you will be accessing a service provided by a third-party external to https://www.attentiveinv.com/

Address

5345 N El Dorado Street
Suite 5
Stockton, CA 95207

Phone Number

Hours

8:00am - 4:00pm
Monday - Thursday

8:00am - 1:00pm
Friday

Benefits Management for Businesses

Attentive Investments provides benefit plan and investing management for businesses of almost any size.

Financial Planning and Investments for Individuals

Attentive Investments provides a broad spectrum of financial services for individual investors.

Address

5345 N El Dorado Street
Suite 5
Stockton, CA 95207

Phone Number

Hours

8:00am - 4:00pm
Monday - Thursday

8:00am - 1:00pm
Friday


Attentive Investments, LLC is a Women Owned Small Business (WOSB) under the terms set forth by the Small Business Association.

Website Contents © Attentive Investments, LLC
Unauthorized duplication or reposting of the contents of this site in any form is strictly prohibited.
View our Privacy Policy | Customer Relationship Summary

Stockton Website Design by Brentwood Visual