Things That Matter

Here’s How You Can Start Investing Even If You Don’t Know Where To Start

The other day I was talking with a client and she told me “Brittney, I finally feel like I understand investing because you explain it as if we are just two girlfriends talking over lunch. You make it so easy to learn and I feel like I finally know what I’m investing my money in!”

I’ve been a financial planner for over 13 years and one of the biggest reasons I started my own financial company was to help smart, savvy women understand money and finally feel like they could come to a financial planner without feeling judged, talked down to or ashamed for not knowing personal finance and investing principles. 

I know how overwhelming investing can be, but the truth is once you dive into this new subject, you will find it isn’t as scary after all and a few smart investment strategies can go a long way in your overall financial plan and success.

Regardless of where you stand in your investing career, just starting out or a seasoned investor, here are three tips to get started in investing. 

1. Understand Compounding Interest

To me, this is like the 8th wonder of the world as it really does work like magic when it comes to growing your money for the long term. The simple way to understand the power of compounding interest is by the rule of 72.  Basically, the rule of 72 tells us how many years it will take to double your money given a specific interest rate.

For example, let’s say you have $5,000 that you can invest in a lump sum today into an investment that returns on average 4% per year. By using this rule, 72 divided by 4 is 18, so every 18 years your $5,000 will double.  

$5,000 today, 18 years from now $10,000, another 18 years from then, $20,000 and so forth.  

What if you took that same original $5,000 investment and instead got an average annual return of 8%?  Now your money will double every 9 years.  

So after the same 36 years instead of $20,000 from the 4% investment, you can potentially have $80,000.  That is how compounding interest will help you build wealth over time. It helps your money make money which of course is a very wise financial move.

2. Diversify

Don’t put all your eggs in one basket. I know this sounds easy, but yet so many people still don’t understand the importance of having a diversified portfolio. Basically, it means to have a little bit of everything in your portfolio. So a mix of different types of mutual funds whether they are stock mutual funds or bond mutual funds, real estate and possibly business equity in your overall investment portfolio.  

Think of it like a pie, if one slice of the pie is eaten and no longer has value then it’s okay because you still have the rest of the pie remaining. Diversification helps minimize your risk over time as you never have all your eggs in one basket, i.e. one investment category, one company, etc.  

I know investing can be confusing, so start by reading and learning more about the differences between a stock, bond, mutual fund, real estate.  This will help you have a better understanding of what is most appropriate to hold within your own investment portfolio. 

Remember everyone is different so your mix of investments may be different from your neighbors and that is okay as you may have different goals, timeframe, risk tolerance, etc.  Find the mix that is right for you and keep that diversification going!

3. Focus On The Longterm And Keep Emotions Separate

One of my favorite investing quotes is from the successful investor Warren Buffett who says, “be greedy when everyone else is fearful and fearful when everyone else is greedy.”  

Basically what this means, is you have to be clear-headed when it comes to your longterm investment strategy and not let your emotions get the best of you when the stock market fluctuates up and down. Most people react to the swings in the stock market and panic when Chicken Little on TV is telling them the sky is falling so they make irrational decisions regarding their investment portfolio. 

If you can remember Warren’s quote, then during those times of stock market dips, if you were in control of your emotions, you might be able to see that there are investment opportunities to take advantage of, for example buying more of a position if you found it a value in the market, versus being fearful and panicking and perhaps selling at a loss like most people end up doing. 

Again, investing is complex and what I am saying may not apply to everyone so please do your homework and work with a financial professional you trust to help you build the right investment game plan so you can stay the course for the long-term.

Learn more from Brittney about investing here:

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Women Are Sharing Why Gut Instincts Made Them Turn Down A Dream Job

Fierce

Women Are Sharing Why Gut Instincts Made Them Turn Down A Dream Job

FPG / Getty

We’re all familiar with the phrase “trust your gut.” Of course, while the ability to suss out a situation based on instinct might not always lead us down the easiest path, for the most part, many people believe that relying on our gut can help us get through even the hardest life experiences and oftentimes avoid them. In fact, according to research, the belief of trusting in one’s gut is upheld by over half of people living in the United States. But what about when your gut-instinct leads you away from something you might really want?

Recently, a post shared to Instagram about gut instinct caught our attention.

The post served as a reminder to us that its imperative to truly weigh what matters to you when considering a new job or promotion. Still, we couldn’t help but wonder what Latinas think. So we asked and got a whole heck of a lot of advice and answers.

Check them out below!

gverseukYessss! We need to be able to say no to a job with an organisation that we don’t think is right for us. However, this often isn’t an option for many of us, particularly womxn. 😩2d8 likesReply

meeze_82This is goals for me. To get my girls to where they can decline jobs offers becuase they’re smart and strong enough to know they can do better. 👏1d3 likesReply

theresalwayzplanzI took a job that paid more money but i didnt know what the work environment would be like. It was awesome making more money, but it was the first time i felt my mental health be in danger. I left. It was the best thing i did.1d2 likesReply

bellabelicenaAbsolutely! Prioritizing your mental wellness always comes first.♥️2dReply

jojajessI declined a job offer 2 wks ago during an interview. It was so awkward, but I was NOT feeling it. I flat out told her that I needed my job to contribute as much to me as I do to it.

“I ignored my gut for a job with a really significant pay increase in an upper management position. I regretted my decision the first few days I was there, the company culture was horrible, and the work hours were horrendous (11 hour days were seen as “normal”, you weren’t seen as a hard worker / dedicated employee unless you put in 70 hours or more.)” – TrifectaLoser

“I met a gentleman who said he always walks with the boss through the office. If the workers change their demeanor, for example stop smiling and talking and start looking busy, he won’t work there. Your thing looks similar, see how the employees interact and maybe even ask.” reidmrdotcom

“I may be stuck in my ways, but I won’t even go for an interview if I’m going to struggle commuting there, never mind moving to a new city etc just to take the job. But that said, definitely trust your gut.” –johnbarrymore2013

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This Heartbreaking Story About A Latino Dad And His Family Being Booted From Their Home Amid The Covid-19 Eviction Crisis Will Make You Tear Up For An Unexpected Reason

Things That Matter

This Heartbreaking Story About A Latino Dad And His Family Being Booted From Their Home Amid The Covid-19 Eviction Crisis Will Make You Tear Up For An Unexpected Reason

CNN/ Youtube

The United States is currently facing yet another pandemic related crisis that new research says could put 30-40 million Americans out of their homes by the end of the year.

The Covid-19 eviction crisis has already seen millions of people booted from their homes no thanks to a lack of federal intervention. According to the National Low Income Housing Coalition, twenty-nine to forty-three percent of renters could be at risk of eviction by the end of the year.

Israel Rodriguez is just one of the hundreds of thousands of people who have not been able to pay their rent because of the current pandemic and thus evicted from their homes.

Last week, his eviction story went viral and tugged at the heartstrings of thousands who watched.

Rodriguez’s eviction story saw him and his young family kicked out of their home and on the streets.

CNN featured Rodriguez in a video interview last week that saw him, his wife, and two boys (one is 4-years-old and the other just 20-months old) evicted from their home in the Houston, Texas area.

“It’s my fault on the eviction. It was a lot going on there in the corona. When it hit, I lost my job,” Rodriguez told CNN while he was being evicted from his home. “It took me like a month to get another job. This is my check. I haven’t been, I ain’t making it with $300. It is literally $300.”

“We ain’t got nowhere to go,” Rodriguez added. “They didn’t rush us, but they was like, ‘Get everything you need.'”

Soon after his eviction, officers in the precinct area set up a GoFundMe account in his name. Already it has raised $67,853 out of its $12,000 goal.

“I’m not the only one struggling,” Rodriguez stated in a news conference set up by Harris County Precinct 1’s Constable Alan Rosen. “But it’s the best thing to ever happen to me, to make a better change in life.”

Since originally being featured in a story by CNN, Rodriguez says that his family has received financial support from all over the world. He says that the help comes in a large part thanks to the constable whose office was given a court order to serve the eviction papers.

“I’m learning to be a better person,” Rodriguez told CNN about how the situation has humbled and changed him.

According to CNN, Rodriguez and his family are currently living in a hotel and are “working to obtain more permanent housing, with support from Rosen’s agency and other groups. Rodriguez also said he’s gotten job offers, vowing to get to work once he finds his new home.”

Last week, the Centers for Disease Control announced eviction bans.

The move was not effective in time to help Rodriguez and others like him from being kicked out of their homes. Current eviction bans allow residents to avoid being removed from their homes for not paying rent if they are able to prove that their inability to do so is related to the COVID-19 pandemic.

“Rental assistance, I want Houstonians and people in Harris County to know, is still available. There is no longer a deadline to apply. We have decided we will leave the enrollment open. It will remain open until all funds have been expended,” Mayor Sylvester Turner said Houston’s COVID-19 rental assistance program last week.

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