You may think that it’s only a good time to invest when you feel that you have a little bit of extra money to invest. That seems to make sense, however, every day you wait to invest may actually cost you in the end.
People may also think that they don’t know enough about investing to make a move or that they may make the wrong move.
Trent Hamm of The Simple Dollar says that even if you do make a bad investment, it will take a long time for that investment to have any negative impact against you.
“Let’s say, for example, that you’re able to put aside $100 a month for retirement,” Hamm says. “You can either start putting money aside right now in an investment chosen at random that earns 6% per year (on average), or you can give it six months of study and choose a much better one that returns 7% per year. How long before the 7% investment catches up with the 6% investment? A little over 11 years.”
This is a hypothetical example for illustrative purposes only. It is not intended to reflect the actual performance of any security. Investments involve risk and you may incur a profit or a loss./p>
While this may be a slightly over-simplified example, the point is clear: Invest now.
Any amount of money that you are able to put toward your future, and your family’s future, whether it’s $10 or $10,000, is going to have a positive impact on your overall financial health.
And if you still feel wary about what or where you’d like to invest, that’s where we come into play. Leave it to Steel Valley Investment Group of Raymond James to guide you along the path of the investments that works best for you.
The saying may be old, but it still remains true: “A penny saved is a penny earned.”
Start earning yours today.
As always, please contact us if you have any questions.
These are the opinions of the author and not necessary those of Raymond James, and are subject to change without notice. Past performance is not a guarantee of future results. Information contained herein is believed to be from reliable sources but we do not guarantee their accuracy or completeness.