The Week In Review: Jan 22- Jan 28January 31, 2023
The Week In Review: Jan 29- Feb 4February 7, 2023
Question: Do I have to be wealthy to invest?
Everyone’s idea of “wealthy” is different. Some people feel that having $20K is wealthy, others feel $20 million is wealthy. It’s all relative. Also, our idea of what “wealthy” means changes as we get older. The type of lifestyle you want to live is another thing to consider. Some people want to have a lavish lifestyle, so they would need to invest more. Others prefer to live a more modest lifestyle, so they would not need to invest as much. What’s important is to start investing in something! You don’t have to wait until you have a lot of money. In fact, you can start small ($50 to $100 a month) and increase the amount as you earn more. The power of compounding interest makes time your greatest ally. Investing regularly and automatically allows your money to work harder for you. One of the advantages of starting an investment program before you start making a lot of money is that you learn to live on less. It’s never too early to start investing and no amount is too small to begin.
Impact! Partners Financial, LLC is an independent financial services firm that utilizes a variety of investment and insurance products. Investment advisory services are offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Impact! Partners Financial, LLC are not affiliated companies. Investing involves risk, including the potential loss of principal. Any references to protection benefits or lifetime income generally refer to fixed insurance products, never securities or investment products. Insurance and annuity product guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Neither the firm nor its agents or representatives may give tax or legal advice.