It took me a long five years before I fully appreciate the value of investment. I was also like everyone else who thinks that putting my money in a savings account is already a good one. I notch it a little higher by opening up a time deposit account. And it was good for me back then.
Then reality hit me. I knew nothing about inflation and even the value of my money in the long run. I even opened up a cooperative members account in order to yield greater rewards but failed miserably in the end. That is when I realized that I need to do something. This can’t go on forever. Then I was introduced with the world of investment.
Let me tell you it was not easy. Since this is relatively new to me there are things that I did before I say that hey I am ready. With that, let me share those things.
Save
Before I jump into investment, I already had a hefty amount of savings. I then identify my emergency fund amount and how much I can allocate for my investment. I then assess the amount that I think I won’t be using for the longest time. I did not touch my emergency fund and even have another savings dedicated for my buffer needs or what not.
Goal
The next thing I did was to identify my financial goal. I don’t really intend on retiring early since I love teaching however I want to reach this much amount before I retire. Identifying that inspired me to save up and invest. Not to mention it persuaded me to save more in the process.
Learn
The next thing I did before I invested is to study it. I don’t have a financial background or an investment background in the first place. That is why I read books, blogs and even ask my local bank on what they can offer and provide me. From there, I identified which would suit my personality and risk appetite. I also identified how much would be its yield on my money and if this can meet my future goal.
I know my current investment state is still in its infancy and I still have a lot of things to learn. However, I am just happy I did. I see my money grow in the process. And it made me realize that indeed you can be able to achieve whatever financial goal you may have without the need to toil and labor much. And I want you to experience just that.
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