Category: Bossing Your Finances

Stop living in scarcity and take control of your finances.

I decided to go with Stash

I use to be extremely intimated with investing. So many big words and not enough dummy books around to make it less intimating.

It wasn’t until I read MONEY Master the Game by Tony Robbins that I really got serious. If reading isn’t your thing…YouTube.

(Unshakeable – is a condensed version of the book)

What I focused on first

Company 401K. Understanding the fees and benefits so I can utilize it to my full advantage. If you have an HSA, also a good tax-free way to save. And if it allows investing with no fees…YES! Fees compound just like interest does.

Then I really got into learning stock trading. I will probably never be a day trader. STRESSFUL. Buying stocks for the long-term seems more suitable for me.

I like to follow Wall Street. I do my daily dose of CNBC to see what’s going on economically around the world. I don’t base every investment choice on the daily news though. My risk tolerance is moderate. I follow the buy and hold tactic. Most of my investments are with low index funds. Pretty safe overall.

I recently decided I wanted to be able to invest in particular stocks. So I left Acorn and moved to Stash. Acorn is cool with “roundups.” If you suck at saving this could work. Although if you hardly invest any money each month, that $1 fee is way too much. Acorns also didn’t allow me to buy individual stocks. Stash on the other hand does. You still get hit with that $1 fee though. It’s more so worth it to me to be able to pick what I want. I’ve been looking into purchasing JP Morgan and a couple of other energy companies but didn’t want to go full on with a brokerage account. I wanted something simple to start out with. Stash seems to be so far what I need. I can buy bundles of funds as well as individual ones. If you really like a company, let’s say Netflix…you can drop in $10 towards that stock to start. Invest over time and eventually own one share. Or just buy $1000 of it if you want. It has options for all types of income level.

I’m starting small. I’d like to dabble a bit more before I go all in. So far, so good. I took screenshots of what the app offers. Learning material and lots of investment options. The mobile app interface design is nice and easy to use.

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Tony Robbins says don’t be just a consumer, be an owner. If you have an iPhone, you should have a stake in their stock. I actually have an android HAHA

The point is unless you start a business that becomes super successful, you’ll never be financially free. You don’t want to worry about how you’ll pay for your bills after you retire. Even worse, be stuck at a crappy job and working until you die.

I say start. Start now. No matter how old you are. Save, automate and continue to add. At least once a year take a look at all of your long-term investments and rebalance if needed.

Stash makes it really easy. I find it user-friendly for non-techy people like me. And I’m not a pro when it comes to investing. Stash breaks it down simple enough. Their app is engaging and has tools to educate you on investing, money management etc. Remember, this is a starting point. You can always move your money elsewhere when you’re ready.

If you decide to check it out, use my link below. I can get $5 per referral up to $500 and so can you!

https://get.stashinvest.com/amara04hq9

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How Michelle Obama, Richard Branson and other successful people use calendar hacks to be happier

I try to stay on top of things but sometimes I completely fall off. I can’t for the life of me understand why! I think I’ve improved. The goal is to conquer it! lol I’ve been able to be much more productive and it also helps free up storage space in my mind. If you’re anything like me, we’re always thinking about the next big master plan. So the more free space the better!

Like my calendar? hahahaa

Via – CNBC MAKE IT.

Scheduling everything into your agenda might seem obsessive, but many of today’s influential leaders say that using a calendar helps improve work-life balance.

In fact, those who are consistent with using a calendar and to-do list are about three times more likely to be millionaires than those who don’t keep a set schedule, socio-economist Randall Bell says.

Here are five leaders and executives who have shared their best scheduling tips to stay productive and happy.

Link below for full story.

https://www.cnbc.com/2018/03/01/michelle-obama-richard-branson-use-these-calendar-hacks-to-be-happier.html

Corrections happen often, don’t freak out…

What is a stock market correction?

A 10% drop in stocks from their peak. Since Jan. 26, the S.&P. 500 has fallen 10.16 percent. (I currently have 90% in the S.&P. 500 for one of my investment accounts…OUCH!!!)

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Who do corrections affect most?

Short term traders and those who heavily leveraged their account with the use of margin (an example would be a day trader).

Thankfully not me 🙂 

I’m a long-term investor so this isn’t freaking me out. I know that corrections are an inevitable part of stock ownership. And so are peaks $$$

What should you do?

That is up to you. Me? I am going to reassess my investments. Maybe change my percentages up a little. Possibly buy more stocks since they are relatively cheaper than they were a few months ago. BUT I WILL NOT BECOME JUST A CONSUMER AGAIN.

If you’re retired or going to soon, here is a great article to read from the Huffington Post.

https://www.huffingtonpost.com/entry/stock-market-crash-about-to-retire_us_5a79de20e4b0d0ef3c09b93b

And again, this is about the long term. The stock market, as measured by the S&P 500 Index, has had an average annual return of 10.31 percent from 1970 to 2016. In dollar terms, if you had invested $10,000 in the S&P 500 in 1970, by the end of 2016, your investment would have grown to $1,005,588. The worst one-year return for the stock market was in 2008, when it dropped 37 percent. 

 

Don’t freak out if you are. Do your due diligence. History will show you the stock market trend.