Investing! This is consistently given as one of the most confusing topics individuals face. In this series, I wanted to share some basic investing fundamentals. My goal is to help you understand this topic better and walk away with practical steps.
STEP ONE Evaluate & Diversify
STEP TWO Automate Your Investments
STEP THREE Get the Free Money
Yes, I said FREE money. Many employers will match a portion of your contributions into a self-directed retirement plan! I encourage you to go to your human resource department and sign up for the retirement plan. Start investing money into it immediately! Contribute enough money to obtain the entire employer match. Remember, this is really just FREE money!
Each company is different, but most companies will usually match up to a certain percent of your pay. I worked for an employer that matched me dollar-for-dollar up to 8% of my pay (100% automatic rate of return!!). Another matched dollar-for-dollar up to 6% of my pay. Still another matched dollar-for-dollar up to 3% of my pay. Whatever your employer is willing to give you is FREE MONEY!
It is baffling that many people don’t take advantage of this opportunity. I have heard several excuses about why people choose not to, excuses like:
- “I can’t afford to contribute.”
- “I’m living paycheck-to-paycheck already.”
These people are basically saying they can’t afford to be given free money. Doesn’t make a whole lot of sense. This is an opportunity to receive 100% return on your investment! DO NOT WASTE THIS CHANCE!
– Talk to your employer TODAY and sign up for your company’s retirement plan. Start contributing something – at least enough to get the full match.
– As quickly as possible, increase your investing contribution to at least 10% of your gross income. I know this is a lot of money, but you will NEVER regret this decision.
– Recommended Resource ==> OXEN: The Key to an Abundant Harvest – Learn how to maximize your money through investing