If your goal for the new year is to start investing for your future but you’re not sure where to exactly start, you’re at the right place. Investing doesn’t have to be confusing or complicated. In fact, investing in your future is one of the best long-term moves you can make, especially if you’re a few decades from retirement.
While investing itself is simple once you get set up, it’s not always easy to know where to start. The amount of available investing information can be staggering, and you might easily find yourself sifting through ill-advised stock picks, unsolicited advice from family members, and market news that’s always full of drama.
First, consider your budget and emergency savings. Experts recommend that you have about six months worth of expenses in a savings account put aside before you invest seriously in the market. However, if you have an employer-sponsored 401(k), it’s not a bad idea to at least begin contributing to it while building your emergency fund. That way you can still benefit from employer contribution matching. But get your emergency fund moving.
