WELL, HELLO AGAIN!
Congrats on finishing this book (or skipping to the end). You’ve now got the tools and hopefully the gumption to go out and start investing. Well, as long as you’ve got your financial oxygen mask firmly affixed to your face, you’re allowed to start investing.
While I was doing research for this book and interviewing experts, Jill Schlesinger’s words stuck with me most: “Know that if you can’t do it, it’s not the worst thing in the world, it’s just that you’ve got to save a lot more money. Your money, when you invest it, is doing some of the lifting for you. When you’re completely risk averse, it just means you’re going to have to save a lot more money to reach your goals.”
It’s strange to end an entire book about investing by saying, “Hey, you don’t have to invest if you don’t want to.” But I respect the way Schlesinger positioned that sentiment.
There is a risk to investing, and there’s definitely work to do in order to start and continue investing. You must do your research. You need to rebalance and modify investments as your goals change. There’s no “set it and forget it” here. Being an investor means being proactive and really taking control of your financial future. It’s what I want for you. It’s what I wish for everyone.
But I’m reasonable. I understand that some people, no matter how much you explain the mechanics behind and importance of investing, are going to resist the idea. Taking even the smallest amount of risk is nauseating to them. So, in Schlesinger’s words, “it just means you’re going to have to save a lot more money to reach your goals.” Just keep that in mind if this book hasn’t put your anxiety at ease.
Investing is, in some regard, a wealth equalizer. Are you going to become a multibillionaire-level wealthy person just through tried-and-true saving and investing techniques? Meh, probably not, but you can achieve financial independence and at least a million, if not several million, dollars in your lifetime if you start young (or now), set goals, rebalance in accordance with how your life and goals change, and, perhaps most important, stay consistent.
Don’t let another day, week, month, or year go by with you thinking that you can’t invest because it’s too complicated or you aren’t rich enough or whatever other excuse you might’ve allowed to creep into your brain thus far. In fact, set down one investing goal right here for what you want to achieve within one year of today’s date. Go on, write it down.
One year from today, ___/ ___/ ______, my goal is to:
Now look at that goal and see what small step you can take each month to make it happen. Break it down into small, achievable, consistent actions.
You can take control. It’s time for you to Level Up Your Money! #LUYM.
Share your investing journey experiences, thoughts, and questions with me and others on Twitter and Instagram using #LUYM and tagging @BrokeMillennial on Twitter and @BrokeMillennialBlog on Instagram.
Best of luck,
Erin