Investing: What Am I Doing?


Man and Woman looking over finances together

Investing is important for retirement, building wealth, and beating the corrosive effects of inflation. TikTok, YouTube, Google, and family gatherings are packed with advice on how to invest. Advice givers recommend everything from day trading to Certificates of Deposit, as well as IRAs, 401Ks, brokerage accounts, annuities, 403Bs, the Dow Jones Industrial, penny stocks, interest; it can be overwhelming. Next, they remind you about how important timing is because if you start saving $5 per week, you will have $10,000,000 by the time you retire assuming a modest 25% rate of return (insert sarcasm). Most advice is either skewed, from a salesperson, or just plain wrong.  

The first thing to do is take advantage of workplace retirement plans with a company match if you have them available. Don’t leave free money on the table. Next, you need to get educated. Reputable resources are available online and in print. (See the end for some recommendations.) Getting a financial advisor can also be a good move for investors looking for more help. You want to find an advisor that is transparent in how they charge fees. It is also a good idea to verify their credentials. Finally, be cognizant of fees. Over the long-term, fees can hamstring even the best laid investment plans. 

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