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- Money-Saving Tips
- Need To Stop Living Paycheck to Paycheck?
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- Common Mistake When It Comes To Money
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- How To Generate Wealth Even If You’re Broke
- QUIZ – What Animal Do Your Money Habits Mimic?
Getting Started Investing: Keeping It Simple – Ep. 101
Have you wanted to start investing but you don’t really know where to begin?
In today’s episode, we’re delving into the exciting world of investing. Whether you’re a beginner or just looking for a refresher, we’ll break down the basics of investing, demystify key concepts, and provide simple steps to help you get started on your investment journey.
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Wondering What’s Next?
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Podcast Key Points:
0:00 – Episode Overview
1:49 – Investing Doesn’t Have To Be Overwhelming
5:41 – First Steps To Investing
8:55 – Things To Be Aware Of With Investing
10:20 – Removing Emotions Around Investing
Frustrated that you aren’t making the progress that you should within your finances? Create an unshakable money mindset with the Money Mindset Mastery Checklist
Getting Started with Investing: A Simple Guide for Beginners
Have you wanted to start investing but you don’t really know where to begin? Like, there’s so much out there. There’s so many different technical financial jargon overwhelm right?
In today’s episode, we’re gonna dive into the exciting world of investing. I think it’s exciting, right? Whether you’re a beginner or you’re looking for a refresher slash reminder, we’re going to break down the basics of investing.
We’re going to talk about a couple of key concepts and simplify them so that it’s not financial jargon and what the heck are you talking about. And then a couple quick steps to help you get started on your investment journey. Here we go.
This is the Your Money Your Life podcast. I’m your host, Aimee Cerka, a money confidence coach for female entrepreneurs on the path to six figures. After over 10 years in the personal finance industry and multiple personal financial and medical crisis, I was fed up with the lines that are being shouted from the rooftops by the gurus and the media. So now I help you simplify, solidify and scale your money. By blending tactile money, strategies with mindset work, you can create unstoppable finances together, you’ll finally figure out the money thing.
So, you can make more money in less time without living off of beans and rice, or sacrificing your lifestyle. Episodes here on the podcast are short and sweet. Being married, having four kids at home, homeschooling being the CEO running the household, I’m kind of busy. And I know you are too.
So, let’s keep it simple and get to the point. Welcome. I’m so glad you’re here.
Why People Invest: Building Wealth and Preparing for the Future
We are back talking about investing. This is a topic that I feel like I’ve covered, of course, several times throughout my career as a financial coach, but I feel like it comes up. And the reason for that is there’s a lot of like, that feels so far away that feels like you have to have a financial advisor or I just don’t get it.
There’s so much financial jargon in the investing industry. Right? So, we’re talking today, I want to simplify it a little bit, okay? Because it doesn’t have to be overwhelming.
So, the purpose was like, what’s the reason for investing, right? Like, let’s just start there, you start, most people started investing, to fund retirement or to grow wealth or a combination of both. And you can start investing at any level. It doesn’t matter how much income you have, and we’re gonna get to that in just a minute.
But investing in the stock market is kind of portrayed currently is like the only option. Now, as like an entrepreneur, business owner, sometimes we have like that. We don’t need the investment stock market; we just need to like hit income goals.
And there can be some of that, like that can be accurate. Okay, we’ll go here. I feel like neither party is right. Because there’s layers to both investing just in the stock market and counting on that for your retirement.
We talked, ooh, probably six weeks or so ago about that. And like how the idea of retirement isn’t really a proven strategy. So, if you’re just relying on your investment in the stock market to provide for retirement, like, that’s scary, that’s not financial security there.
There is so much that even with the US dollar and any of that, but for the purpose of today, we’re talking about investing. And that is one of the key things that you can invest on, of course. Alright, let’s go here.
Understanding Different Investment Options
Okay. So, main types of investments, stocks, mutual funds, that’s really what most people think of real estate could be an investment. You can have investments in precious metals, gold, silver, some of those things even like art, which that’s much more risk adverse.
If you’re inside the Academy, I have an assessment inside the offense, that are an assessment, a chart inside the offensive category that rates these from least, least risk to most risk risky. And the only thing that risk simply means is like you have a higher likelihood of losing your money. It’s not as guaranteed.
Least risk is most of the time not seeing as much of a return. Be less of a gamble. There we go. That’s how we look at the risk.
So like CDs, where it just locks your money in for three years, five years, whatever you set the amount in, and you’re getting a little bit of an interest rate built on that. And then you can’t touch the money until then, until the three years or five years are up, like that will be least risk, less risky.
There we go, we’re gonna remember how to use our words, less risky. And honestly, like right now, the savings account, like my savings account has just as good of an interest rate as the CD does. And then I still can access my money whenever I want.
Choosing Your Investment Path: What Do You Like?
But of course, you got to do your own research. I’m just here providing the information for you. Let’s just do it step by step. This first step you need to do is like know what you want to invest in.
Okay? So, if it’s precious metals, if it’s the stock exchange, I’m sorry. If it’s precious metals, if you want to invest in the stock market with mutual funds, bonds, just stocks etc. There are so many different options there.
Whether it’s real estate, whether it’s cryptocurrency, doesn’t matter if that’s the first step, decide what investment you want to start, and you can start multiple, but you gotta like pick one to start, right?
Starting Small and Taking Action
So, pick that. And then what’s the next step like you got to get started. So, if it is something with mutual funds, or stocks, those things you can set up an account like with fidelity, and start with like $25 and does not have to be a large amount of money, but like you just have to get started with real estate was a little bit harder.
That is not my area of expertise at all. But you like your next step for you is probably what type of real estate investment you want to have. Whether you’re looking for.
Are you going to be like an investor? Are you doing short term flips? Are you doing long term like keeping tenants?
There are so many different options there. But you have to know what you want. But make sure you’re also prioritizing who’s taking the action, because you can get stuck in that information, overwhelm and not actually moving forward.
You’re just like, okay, but now I need to learn more. Now I need to learn more.
So, figure out what area you want to invest in is step number one. Step number two, we need to like, once you’ve picked your investment vehicle. Then you’re Step number two is like knowing the next step.
So, is it creating the account? Is it as simple as just making a purchase? Or finding a vendor for your gold and silver purchases? Or is it finding somebody that will teach you real estate investing? Whatever it might be? It’s just one next step.
Because we make so many things to be like this big, overwhelming thing. And it’s there’s a line from DC legends of tomorrow. And if you’ve attended Cashflow Unlocked, you probably have heard me say this because I love it when Leonard Start says there’s like four rules -rules you need to remember.
Number one, make a plan. Two, execute the plan. Number three, expect the plan to go off the rails. Number four is throw away the plan, like just do the one next step.
Managing Risk and Protecting Your Money
It’s okay if things don’t work out the way that you want. And that is the key was starting investing, like don’t invest money when you’re trying to figure this out that you can’t lose. The key here is understanding this is why we have the financial freedom account.
So, you have a designated amount of money that you can lose, designed for investments like this. Now you can invest in your business, and that’s a whole different thing. But if we’re investing, we need to invest money that we can afford to lose like if it just disappeared, you’d still be okay.
That’s why the financial freedom account has its own category within your budget. Some things to be aware of like ask about fees, recurring fees, or transaction fees, learn. There are so many things that you can do yourself.
Diversify Your Investments
I don’t want you to feel like you have to go get a financial advisor. A lot of people don’t need a financial adviser to get started. There are so many different resources out there.
And we go into a little bit more inside the Academy. But I’m here to provide you the information and you get to decide what you want to do with it. And I think the biggest thing to know is it’s not a one size fits all. And one path is not the only option.
So don’t feel stuck. If you don’t want to invest in the stock market then don’t invest in the stock market. If you don’t invest in real estate then don’t invest in real estate. If you don’t want us to earn cryptocurrency then don’t start in cryptocurrency.
There are so many different options out there. We didn’t even talk about like Angel investing and some of those things, investing into businesses. That’s another option as well.
But just getting started is going to help you overcome that fear. Just take the first step. Obviously the fourth part, because I will finance this framework is having a coach.
So, I’m going to help you walk through it. Now, I cannot provide you financial advice, but we can walk through the emotions behind the investing and what you’re afraid of. This is a gradual process, and the most important thing is to start.
So, what do you want to invest in? What are you passionate about? And then what’s the next step you need to take? Can you get started right now or is the next step learning information?
Learning as You Go
And if the next step is learning information, put a deadline on it. Keep yourself accountable so that you don’t get stuck in that learning loop in that frozen zone. Like you’re paralyzed. That’s the word I was looking for. You’re paralyzed.
And I don’t want you to get stuck there when it comes to investing. For myself, I wanted to get started on the stock market. So, it was something that I could talk about, with integrity with my clients.
And I started with $25 from Fidelity and we talk about like, what the different options are finding stocks, or mutual funds, like what all of those mean, inside the Academy. I think we’ve really gotten into that and another podcast episode.
Let me know if that’s something you want me to cover. Because I could do that if we wanted to talk about what the different ones are so that you can make the decision that’s best for you.
Start Your Investment Journey Today
Okay, pick a vehicle what you want to invest in, figure out what your first next step is your first step, put a deadline on it and then just do it. Send me a message on Instagram, let me know that you’ve gotten started investing that you’re not afraid you moving forward with confidence. Or if you’ve got questions, I want to hear from those. I want to hear those as well.
We’ll see you next time. Bye for now.
Thank you so much for listening to Your Money Your life podcast. Ready to dive in? Money Mastery Academy is like the all-inclusive resort. Everything you need to step into unstoppable finances and create that abundant life. Finally, take control of your money.
When you do that pressure will be gone off your shoulders and you won’t have to work 80 hours a day and night and your calendar won’t be booked to the max with work. Your finances and your money do not have to be a struggle with Money Mastery Academy.
All this is possible. It does not have to be complicated. And you can do this. Go to aimeecerka.com/academy and let’s make today the day that you draw a line in the sand and take control of your financial future for good. I’ll see you there.