3 Easy Ways To Start Your Investing Journey
Okay, ladies — let’s talk about Investing! Unfortunately, I need to start by sharing some bad news.
Did you know that women are less likely to invest than men?! That’s right, statistics show that women wait longer to invest than men do — even though we live seven years longer than men on average and are proven to be much better at it. What’s up with that? By not investing, women are put at a serious disadvantage when it comes time to retire.
The Importance of Investing for Women
These stats, along with others, are just a few reasons why investing is so important for women. For many women, hearing the word “investing” can be very intimidating. Not only is the investing world already a male-dominated space, but many women have also been left out of the money conversation years and don’t feel confident enough to make the right moves. Does this sound like you? Trust me, you’re not alone. In fact, it’s estimated that 41% of women wish they invested more of their money!
So, what is really holding us back?
Why Are Women Afraid to Invest?
As a Financial Coach, these are the questions that I hear most often:
How can I understand investing properly?
Why should I be investing?
How can I invest if I don’t have a lot of disposable income?
Where do I even start?
Okay, first things first: take a deep breath. Taking control of your financial future shouldn’t feel stressful or unattainable. You don’t have to know every single little detail about the investing market to get started and feel confident about what you are doing. You are already brilliant — you just need the basic directions to get you where you want to go.
Once you’ve come to terms with how amazing you are and rejected your fears, the hardest part is over. Ready to get started? Here are 3 easy ways to get started on your investing journey today!
1. Know your goals. Why do you want to start this investing journey?
I know this may sound easy enough, but having this strong foundation can help you gain courage and stay motivated. You make the rules! Set some time away from work or school and write down why you wanted to start this journey. It is important to know why you want to do this so you can gain the confidence you need to execute it. So, why did you decide to start this journey? Was it to reach a financial goal (such as saving up for a wedding or a house, going back to school, having an emergency fund), start a retirement fund, or just to build your wealth overall?
Of course, there are no right answers here! Everyone’s investing journey is unique to them, so figure out what works best for you. Because life is unpredictable, this is just a framework. You may need to change plans and use those savings for something else and that is totally fine! Starting with some sort of foundation for what you want to achieve will not only help you with your roadmap, it will also get you excited to see the progress!
2. Learn the basics. Uplevel your investment knowledge!
Like I mentioned earlier, you don’t need to know everything to get started. There are so many different options to help you start gaining that knowledge. You can listen to a financial podcast, take a low-cost course, or start reading personal finance books during your free time. When you figure out what method works best for you, it will become so much easier to understand the financial terms and how investing works.
Lucky for you, I can help! Our Investing Masterclass provides all you need to uplevel your investment knowledge. Let me help you not only understand the gender investing gap, but also help you gain investment knowledge so you can fearlessly jumpstart your investing journey. By registering, you are investing in yourself and your ability to build wealth.
I’m so excited to offer this opportunity because it may not happen again! I want to help you gain the knowledge and confidence to take charge of your financial future.
3. Create your Investing Roadmap
Okay, now you have the tools you need, let's start creating your roadmap! First, you want to get started as soon as you can. Stop letting inflation diminish the value of your money that is stored away in a savings account.
Next, decide how much you want to invest and where to do it. This all depends on what your investing goals are. This also depends on how much risk you are willing to take. As a rule of thumb, never invest more than you’re willing to lose. Allocate money in your budget for investing but make sure you have your emergency fund set aside left to invest. Some experts suggest a 50/30/20 strategy. 50% of your income goes to your necessities (rent/mortgage, utilities, food, etc.), 30% goes to your wants (self-care, travel, brunch with girlfriends, etc.) and 20% should be saved if you do NOT have an emergency fund yet or if so then 20% can be invested.
When it comes to creating an Investing Roadmap, I’m here to help you out. My upcoming learning experience on November 3rd, Start Your Investment Journey Now!, is all about this — providing a clear roadmap to follow, tools to ensure you are in action, and a newly found optimistic view of your financial future. At the end of this empowered learning experience, my hope is that your finances will go from a burden to a source of peace, comfort, and vision. For more information on this confidence boosting investing experience, click here! Remember, each day that passes is a missed opportunity for your money to work it's magic!
So, what do you say? Are you ready to get started on your investing journey? By knowing your goals, learning the basics, and creating your customized Investing Roadmap — you will be on your way to becoming an investing guru in no time. I am so excited to be taking a deep dive into all of the topics covered in this blog at my Investing Masterclass. I invite you to register and invest in your future — because the future of investing IS female!