The financial media website Investopedia has a guide to how these matches work. If you invest, say, 5% of your salary, your company may contribute the same amount on your behalf. Many companies offer employees a retirement plan match. An evergreen tip: Take advantage of your employer match. You should generally pay those off before investing your extra dollars. Some questions to ask yourself before investing: do you have enough savings to cover your basic living expenses if you lose your job? Have you paid off your high-interest loans? Many credit cards charge interest rates of more than 20%, Sokunbi says. "Essentially right now, the stock market is on sale," she explains. Because stock prices have dropped significantly, you can get more shares for less money. Although this may not be the right time to sell your stocks, it is a good time to buy shares, says Sokunbi. Now is actually a good time to invest.Go for a walk (here's a handy Life Kit guide on how to enjoy nature). "If you don't need the money anytime soon, then it's OK not to log into your account this week or this month or this quarter," she says. A lot of emotions can come up when you see your investment accounts plunge in value: fear, anxiety, regret and anger, says Sokunbi - so try not to check your investment accounts more than necessary. Take a break from logging into your accounts. "At this time, you want to ride out what's going on in the markets because economies are cyclical." This Life Kit episode on investing has a helpful explanation on these cycles - and it involves a roller coaster metaphor. But "unless you actually sell it, you haven't lost anything," she says. Today, it may be valued at less than what you paid for it. Don't pull your money out! If you have money in a retirement plan or investment account and the markets have dropped significantly, that's actually the worst time to sell your stocks, says Sokunbi.Life Kit The most successful approach to stock market investing in 5 easy steps
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |