Everyone always tells us how important it is to invest our money. It is true. One of the surest methods for an average earning individual to build long-term wealth is by investing your money.
Living Expenses
Emergency Fund
Paying off Debt
Time to Invest
To Wrap it Up
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I agree fully with this article. You have to have your financial house in order before you could starting building wealth for the future. However, you could risk running into analysis paralysis if you wait too long. That’s why I would recommend to just start! Even if you are still building your emergency fund, don’t wait until it’s fully funded. Already start investing. Even if it’s just 100 per month, just start and learn.
Good point B! I would try to get a $1,000 emergency fund saved up and then possibly start investing. If you work for a company that provides a 401K match, it’s probably a good idea to contribute enough money to your 401K to get the match as soon as you can. That 401K match is like having a pay raise since you get to keep the money that your company is contributing.
Great intro! Sometimes I forget to clarify with people asking about investing if they have checked off the other boxes: emergency fund, no high interest debt, etc. Thanks for the helpful write up!
Thanks! Yeah, it’s great to get his out there for people who are just starting to think about investing.