Investing Wisely
It's tempting to rush to investing while working the steps, but until you reach step 4, it's best to put off all investing. As you pay off debt, you are investing in yourself and interest saved is the most surefire guaranteed return you'll ever get.
This said, when you're ready to save for college and retirement, now is the time to get savvy with investing. While many investing options abound, a small few are among the tried and true long term investment winners you'll want to focus your attention and money upon. Our favorite investments are Mutual Funds. |
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Mutual Funds are comprised of investor dollars from many investors, yourself included, and invested under the oversight of a skilled mutual fund manager. These managers charge a small fee of sorts for their management services, but they also use their background, research and investment expertise to best invest their fund member's money wisely. Mutual Funds can contain stocks, bonds, real estate trusts and a whole host of other options.
It's best to consider, with a local investment adviser, what mutual fund options best meet your risk profile with your investment growth needs. Look for mutual funds with a long history of solid returns and low overhead costs. We have found that our best returns over the long term have been with Mutual Funds focused on growth stocks.
It's always been tempting to invest with individual stocks, but this also increases risk to the investor. Unless you are very savvy with investing experience, it may be best to shy away from individual stocks and stick with diversified mutual funds.
It's best to consider, with a local investment adviser, what mutual fund options best meet your risk profile with your investment growth needs. Look for mutual funds with a long history of solid returns and low overhead costs. We have found that our best returns over the long term have been with Mutual Funds focused on growth stocks.
It's always been tempting to invest with individual stocks, but this also increases risk to the investor. Unless you are very savvy with investing experience, it may be best to shy away from individual stocks and stick with diversified mutual funds.