If you're in your twenties and are striking out on your own into the world of free enterprise or are beginning to experience the joys of your first working years as a new employee, here are a few thoughts to consider when approaching investing.
Having a big picture perspective pays with investing as it does with entrepreneurship. Develop a strength for discernment and drawing the distinction between a calculated risk and hasty speculation. It’s ok to make a few mistakes as long as you learn from them and do better with the next opportunity. It’s good to approach investing cerebrally and to learn as much as you can about diverse techniques. Invest when you’re confident that you can explain your investment to someone else.
It’s normal to think emotionally with regard to investing your newly hard-earned wages. Identify long-term goals for which you are most passionate and save diligently toward them. Cultivating this type of mindset early on will empower you to develop an uncommon discipline toward saving toward other shorter-term and intermediate-term goals.
The early days of earning a paycheck are empowering. Whether you’re contributing to your employer’s 401(k) or exploring other investing options with a seasoned financial professional, take a steady plodding approach and recognize that growing wealth takes time. Allow yourself to be excited about the progress you’re making and learn to enjoy the process.
Anthony Montenegro has been featured in: Forbes, CNBC, USA Today, US News and World Report, MSN Money, The Huffington Post, CBS News, Entrepreneur, The Simple Dollar, Go Banking Rates and Yahoo Finance!