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Money Check time! Are you ready to start investing? How do you know if you’re doing the right steps? What investment returns are you looking for? In today’s money check we’re talking about the questions you need to answer if you are investing, so let’s do this!
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Resources – Money Check! Are You Ready To Be Investing?
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0:00 – Episode Overview
1:38 – Episode Sponsorship
3:52 – Ready To Commit To Investing?
6:16 – How Are You Going To Invest?
8:12 – Results From Investing
8:32 – Designate Funds For Investing
10:05 – Diversification Smart Idea
11:40 – Financial Advisors
12:16 – Do You Need A Lot Of Money To Start?
13:36 – Your Challenge
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
Read It! Money Check! Are You Ready To Be Investing!
Let’s do another money check. Is it time for you to be investing? Is it smart for you to be investing right now? There’s a lot going on and there could be a lot going on in your personal finances.
So today I want to give you a couple guidelines on how to know if it’s the right time for YOU to begin investing. So, let’s do this!
Welcome to the Your Money Your Life podcast. I’m your host, Aimee Cerka.
After my husband and I faced three major financial roadblocks in the last six years, I felt like I wasn’t doing all that I could and I had let my family down. It always felt like life was a struggle like I had to work harder than everyone else. It just came easy to them, and I didn’t feel worthy of success.
Until, a coach helped me see the successes in our experiences instead of our failures. This allowed me to create and implement systems to grow our network by 200,000+ while spending time with my loved ones and on my priorities. Now I help motivated women create the happiness, family life, financial security, and long-term wealth they deserve.
If you’re ready to eliminate stress, struggle, frustration and guilt within your finances, you’re in the right place. Welcome, I’m so glad you’re here!
This episode of the Your Money Your Life podcast is brought to you by the Money Mindset Makeover Blueprint.
The Money Mindset Makeover Blueprint is the brand-new course to help YOU, the one who’s sick and tired of feeling like there’s this invisible force holding you back. Whether you’re doing all the work and not seeing the results, or can’t seem to make yourself do the work that you know you need to do consistently.
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To enroll, simply visit aimeecerka.com/mindsetblueprint. Regardless of what is going on in the economy, you can make over your mindset with practical simple steps to gain clarity, confidence and control over your money. So make sure to enroll now, to claim the limited time bonuses. And if you need that link again, of course it’s hanging out in the show notes for you.
Welcome back to another episode of the Your Money, Your Life podcast. I’m your host, Aimee Cerka.
Today we are talking about investing. Are you ready to be investing? Should you be investing? And really, we could even do like, are you investing in the right manner? All of those things, we’re going to answer it in today’s money check.
So I got a lot of feedback from you that the last money check we did was super helpful. So I can’t wait to hear what you think of this one. And if we find it helpful as well, just to make sure that we’re on the right track, okay?
The first thing that we need to do to be able to decide that we’re ready to be investing. So your first step here, um, commit.
Are you ready to commit to investing? Because if we are not consistent with any habit that we’re doing, we’re not going to see the long-term results. We can’t do something; this is like why your dieting doesn’t work. This is why having your money mindset be set up for success is so important. It’s so crucial to eliminate from those money mindset blocks.
Honestly, investing was something that kind of scared me before. I was like, “This doesn’t feel like it’s something that I can control. It feels like it’s so out there.” You know, stock market, mutual funds, all the things, don’t make sense, feels like it’s too far away. So I recreated a money mindset block around this and it wasn’t until one of the financial courses that I took in the past that I was really able to move forward past that money, mindset obstacle and be ready to invest.
So some of the same strategies that I was given, I’m going to give for you today. But if you’re thinking, “Heck no. Scares the crap out of me.” Make sure that Money Mindset Makeover Blueprint, it’s officially available. So you know that if you act now I’ve got some no brainer bonuses for you or amazing bonuses to make it a no brainer for you.
Make sure to go check that out, the links gonna be in the show notes as well. I don’t want to spend a ton of time on that because we’re talking about investing today. But I do want you to know, that being able to invest successfully, we do need to have an unshakable money mindset, we need to have an unstoppable money mindset, and the Money Mindset Makeover Blueprint is designed to do that, okay?
So really, if you’re ready to commit, it’s definitely a mindset thing, we have to make that decision, we have to stick with it. But we’re also going to like actually have to commit to putting money towards it consistently, and we’re going to get to that here in just a minute with the commitment or with another step here. But that’s really the first step, “Are you ready to commit to this long term?”, this can’t be something that you’re just trying out for 90 days, “Oh, we’ll see if this works”, you’re not gonna see results. We’ll leave it at that.
The second thing that you need to know, if you’re ready to begin investing is what type of investment are you going to do? You can have investments with a variety of different returns.
Now we’ve talked before about the best investment that you can make is in yourself. And that is still true, so applicable. But we’re talking aboutmore traditional investments today, what a lot of people think of the stock market, real estate, etc. But there’s really three different types of returns that you can receive on these investments, okay.
So you can be capital gains, you can have monthly re-occurring income and you can also have investments that are just producing like an asset over time. It’s not one that you’re withdrawing from, maybe you’re saving this for retirement, maybe you’re saving this, to pass it on as an inheritance, for example, one that a lot of people don’t think about. There are certain types of life insurance policies that can grow an asset for you.
Now, we are going to talk all about this inside the Money Masters Inner Circle Academy, which Sneak Peek, coming soon, revamp there. Money Master Inner Circle is getting a makeover so you can’t even join right now if you wanted to. But I’m so excited about the academy portion that’s going to launch. We’re going to talk all about that because this is something that I have a background on life insurance, if you did not know that was how I got my start in the personal finance industry.
And it’s so important to set up your life insurance, I hate to use the term “the right way”, because it doesn’t feel like there’s really a right and wrong way to do things. But we can do things and not be knowledgeable about what we need to do and that’s a problematic problem. Okay.
So three types of investment. What are you looking to have? Are you looking to have capital gains? Are you looking for that recurring monthly income? That would be like rental units that you have within real estate? Or are you looking for asset growth, just something that’ll grow long term, a nest egg type approach, okay?
Once you know that, we need to be designating funds. And really you can designate funds, if you’re still trying to figure out what type of investment you’re going to do. This kind of goes back to the commitment, like we have to have that money set aside. You know, we talk about percentage-based budgeting. If you are looking for information on that, I’ll include some links in the show notes for you to check out but we’ll save that for another day.
Designate funds. This honestly was where I started because this is something that I could, I can make that tangible step. So if you’re using percentage based budgeting, start with 1% and designate it. If you’re not ready to begin investing, you know I’m going to tell you, if you’ve been listening, to put the funds in a Discover savings account.
It’s going to start to grow a little bit of interest for you, but we just have to start somewhere even if it’s just like having a jar at home and labeling it your financial freedom account. I note, that is from the Budgeting Simplified Course, where we talk about that’s the fund we use for our investments to grow passive income streams, which we’re talking about today.
So quick recap of what we’ve done so far. We’ve talked about (1) committing. You have to commit to doing this long term, it cannot just be a one and done thing. We have to know (2) what type of investment we’re going to do and then we also (3) have to designate funds. Those are really the three main first steps and then after that, it kind of varies and we get into all of that inside Money Masters Inner Circle Academy.
But I do have a couple things that I wanted to, it’s not really disclaimers, just like a note, like, hey, you need to be aware of this. Okay? This is important.
So a lot of people talk about diversification.
At the current time, things are a little crazy right now, with the current climate, current economy, all those things. The US Dollar, as it stands right now is a fiat currency and what that means is our currency is not backed by anything, we can just print money, or they can just, the Federal Reserve, can just print money, whatever the heck they want.
Now, there was a lot of money printed last year so we are feeling the effects of that with inflation. It takes time for some of those things to catch up. It’s really it is what it is, we’re gonna talk about some strategies, and things that we need to be mindful of, and that we’re diving in depth inside the brand-new Money Masters Inner Circle Academy.
But I want you to be aware, especially like the stock market, a lot of people say if you invest long term in the stock market, you’ll be set, you’ll be good. The problem with that is that the US dollar is a fiat currency. I’m not saying they’re wrong, I’m saying it’s something we have to be aware of, we have to be mindful of. There is nothing that makes the dollar worth anything other than the fact that they say that it’s worth something. So if you’re going to invest in the stock market, I do have assets in the stock market, just be mindful of it.
The second note here is on financial advisors.
Financial advisors can be great. There is definitely a time and place for that. Couple of things though, nobody’s going to take care of her money like you will. And if you watched Ozark like I have, you know, you’re a little more skeptical anyways of financial advisors to joke but you don’t know.
There is nothing wrong with that, again, there is a time and place to have a financial advisor. But you do not have to have a financial advisor to get started. There are plenty of resources out there, you can do things, fidelity, all the things like you can do this on your own, you do not have to have a financial advisor, you do not have to have a tremendous amount of money to be able to start investing, you just have to start and you have to know, again that you’re committing to it long term.
You have to know what you’re expecting. Are you expecting to grow monthly income? Are you expecting just to grow that nest egg? Are you expecting the capital gains? And what the heck is the difference between three?
Again, we’re gonna get into all of that, but I wanted to give you this quick check to know if you’re ready to begin investing. Really, for the main purpose of (a) to know if you’re ready to be investing, and (b) if it’s something that you’re like, I don’t know me that kind of scares the crap out of me, maybe Money Mindset Makeover Blueprint is for you. Because until we get into that unstoppable money mindset, we’re not going to be able to move forward.
And yes, there are things going on right now. And you’re like, I don’t think that now’s the right time. That’s different. There’s a difference between not now and we’re ready. You can still be doing some of these other things even if you didn’t want to be investing right now. Although there are definitely things that would be a smart investment even the right now economy but that’s again, a decision you’re gonna have to make for yourself.
So your challenge for today I want to know are you investing currently? Are you scared to invest? Or are you like, okay, I can make this happen. How are you feeling after today’s money check? Are you ready to be investing? Are you already investing? Where do you stand on the spectrum? We’ll see you next week for another episode of the Your Money, Your Life podcast. Bye for now!
Thank you so much for listening to the Your Money Your Life podcast. My favorite place to hang out is on Instagram. You can find me at @aimeecerka. Send me a message or post a screenshot and tag me! I love hearing from podcast listeners.
When you’re ready to master your money, go to https://workwithaimee.com. You and I will work together to ditch financial stress and struggle for good with a customized plan that works for you, your goals, your priorities, your life. I’ll see you next time on the Your Money Your Life podcast.
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