Does the thought of putting your big toe into beginner investing give you the chills? Starting something new can often be intimiating. But I promise, it’s not as hard and complicated as you might imagine.
Let’s debunk a myth right now: it’s not the end of the world to begin investing late in life. While starting in your 20’s, even your 30’s, give you a much great opportunity to experience growth, starting in your 40s, 50s, or even 60s can still lead to financial growth—if you start now. Otherwise, “times a wasting.”
The key is to make your money work smarter, not harder. And to make your money work for you. And thanks to the power of compound interest, time can still be your ally—even if there’s less of it.
🧭 Beginner Investing 101: 5 Steps to Start Strong
1. Know Your “Why”
Are you investing for retirement? To stop living paycheck to paycheck? To leave a legacy? Knowing your purpose gives your money direction—and keeps you motivated. Having a “why” will cause you to lean into it, to move toward the goal. Need help understanding the concept, or creating yours? Here a short article I found really helpful – Define Your Why.
2. Start Small, Start Now
Don’t wait until you “have enough.” Start with what you have. A beginner investing even $50–$100 a month can grow significantly over time. Automate it so your future self gets paid first. I recently recorded a short video on this topic in our private group, Sisters In Success. Come join us.
3. Open the Right Accounts
If your job offers a 401(k), especially with a match—grab it! No 401(k)? Look into a Roth IRA or Traditional IRA. These accounts help your money grow tax-deferred (or even tax-free). I also highly recommed exploring options such as Indexed Universal Life, a great vehicle to become your own banker.
Here’s a great (and short, easy to read) book that will give you some fantastic perspective – Money, Wealth, Life Insurance. Get it now from my Google Drive while it’s fresh on your mind.
4. Understand Risk (And Don’t Fear It)
Your risk tolerance is personal—based on your age, comfort level, and how long until you need the money. A balanced portfolio often works well, but don’t be afraid to get help deciding.
5. Stay Consistent
As you begin your investing journey, there’s a few things to remember. Investing isn’t about timing the market. It’s about time in the market. Stay the course, even when the news gets noisy. Markets go up and markets go down. Consistency compounds.
🔁 But What If I Still Have Debt?
Great question! If you’re carrying high-interest debt, prioritize paying that off first (especially credit cards) before you step into beginner investing mode. Once that’s under control (meaning it doesn’t need to be all paid off, but you’ve reduced your balances substantially), free up those payments to invest instead.
Check out this post: Debt Elimination: Your Superpower to Wealth Building.
🌱 It’s Not Too Late. It’s Right On Time.
You can’t change when you start—but you can change where you’re headed. Investing is how you plant the seeds of freedom, peace, and options. And once you begin to discover the feeling of options…watch out world!
So take that first step today. Define your “why”. Make Your Plan. Set your Goal. And GO! Your future self is already cheering you on.