It’s risky to put money into investments in which you don’t have a lot of confidence. Your investments sound like they were too speculative. And aim to hang on to the stocks you buy for at least a few years, to give the companies time to perform and to recover from any short-term drops. Be sure to always research a company before investing, so that you have good reasons to expect it to grow in value over time. The Fool responds: Those lessons can apply to any stocks you buy. I learned some lessons: Only buy companies you are willing to hold for several years at the least, and invest in cyclical stocks only if you have a solid thesis for the sector and its potential. I did get lucky with a couple of them: Though they fell 30% almost immediately after I bought, the prices then shot up, and they paid generous enough dividends to give me only a small overall loss. I quickly realized that I couldn’t stomach these investments, as I was thinking about them way too often - including right before going to bed. A common rule of thumb suggests saving 10% of your income, but that’s too little for many people, especially those who are far behind. Aim to start (or continue) saving aggressively for your future and investing long-term money effectively - perhaps in low-fee broad-market index funds, such as those that track the S&P 500. But still, try to minimize the revolving debt you take on and prioritize paying it off as soon as possible. If you’re among those who are struggling, know that you’re not alone. On top of that, outstanding revolving consumer credit (such as credit card debt) has been rising, as people have charged some household expenses on cards. fell to a near record low in the fall, hitting 2.4% instead of the 7% to 9% that had been more common. It has recently gotten even harder to save, with inflation kicking up the prices of so many necessities. Even worse, roughly 1 in 5 people have less than $1,000 saved. According to the 2022 Retirement Confidence Survey, 34% of workers report that the total value of their savings and investments - excluding the value of their primary home - is less than $25,000. It looks like many, if not most, people are behind in their savings, too. Clearly, most of us need to be saving and investing for our futures. ESG investing is a form of socially responsible investing that prioritizes financial returns alongside a company’s impact on the environment, its stakeholders, and the planet. Plenty of people are receiving less than that. The recent average monthly retirement benefit was just $1,828, or about $22,000 a year - and that’s just average.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |