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Thursday, August 02, 2007

Easy investing

The Kiplinger.com article tells people to stop making excuses and provides steps to getting started with investing right away. The payoff could be good! As per the article, investing just $50 a month at an average annual return of 10% on the money at age 22 could grow to $432,000 by the age of 65, while investing $116 a month would make that person a millionaire.

The steps include:

Step 1: Decide if you should invest. Investing is good but it may be better first to pay down high-interest debt first.

Step 2: Identify your goal - determine whether you are investing for short-term or long-term

Step 3: Find a place to put your money and open an account - based on the your investment horizon, determine whether to put money in safer, savings account, etc or more riskier investments such as mutual funds. Make automatic investments.

Stetp 4: Sit back and watch your money grow - let the money grow.

For complete article, check out:

Kiplinger.com: 30-Minute Investing Start-Up Kit

posted by Ruby @ 8:01 AM

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