The 1st step on your investment journey begins with your why.
If you don’t know where you’re going, how do you know when you’ve arrived?
Your why is just that, YOUR why.
It doesn’t matter if your WHY is to fund your retirement, send a child to college, or to pay for your next vacation. It just has to be the goal you are planning for.
Then, you decide the play that will get you there. The formula is simple:
Time + Money + Risk tolerance = your goal
The formula is simple but it takes financial literacy to guide the application of the investment type that will help you reach your goal.
Most investments have a speed and historical pattern which can help predict the outcome.
However, this does not guarantee the outcome for you – which is why you typically see the investment caveat: past performance is not a guarantee of future results.
My life has been one long financial journey filled with adventure. I’ve recently retired early and I now use lessons learned from those lived experiences to teach financial literacy to the youth, young adults, and the mothers who raise them.
Financial Literacy: Monk Says…Learn The Game
MonkSays.com