You Need a Financial Coach

 Most people don't understand the importance of money until it is too late. Most people think "I'll invest when I'm older." or "I don't need to invest, I'm too young." Then you wake up and it is too late. The 7th wonder of the world according to Albert Einstein is compound interest so it is important to start investing early and often.

The most important thing you can do right now is to set yourself up for success in the future. I'm not saying to put all your money into cash or investments and become miserable with your life but invest enough so you can enjoy your life now and in the future. Put a certain percentage away that you feel comfortable not needing for the next 30-40 years of your life. This could be $1 a month for now until you feel comfortable enough to trust the market. This investment starts compounding as soon as you begin to deposit your cash in for example a Vanguard S&P500 index fund(VOO) which has returned approximately 13% annually (you will not see a return like this is a savings account). The compounding begins small but when you continually invest, you will see the return of the market really begin to grow your retirement accounts. You need to be patient and not check on your investments every single day because the market will have bad days/years and your brain will tell you to sell and you will lose all your gains and lose the 7th wonder of the world (compound interest). 

A financial coach/planner will help you understand the importance of investments. They will teach you that investments aren't all that risky and for you to become wealthy you will need additional investments than just a 401K. They will lead you to become less worried about your investments and will guide you to a wealthier retirement. I have been very grateful to have someone in my life who is a financial advisor and they have guided me to become very smart with my investments. This is not difficult to accomplish on your own but it is a very tough mental hurdle to get over. 

Most financial planners are not here to sell you insurance so be careful who you choose to do business with. 


Location: United States

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