I purchased my first Motif on June 20th, 2016. Within just 12 days, my investment jumped by 23% and I earned myself a surprisingly quick $207.
Will this happen for everyone?
Should you invest in a motif today?
Related: What is a Motif?
When Should You Start Investing in a Motif?
“Probably not?!? I thought you were a Motif affiliate! Shouldn’t you be pushing this product to all your readers? But you’re actually telling us NOT to invest in a motif?”
Ever since I started investing in a motif and began telling everyone about it, it seems like everyone wants to sign up and start investing in their own motifs. But slow your role, people! You might not be ready for investing yet!
Sure, investing is a great way to build wealth, but you should NOT be investing in Motifs (or in any other investment for that matter) until you get a solid foothold in your finances. If you invest too early, it won’t be a blessing for you. It’ll just be another obstacle amongst your many financial problems.
Before you invest in a Motif, I recommend you take the following steps:
1) Get $1,000 in the bank
What do you do if an emergency happens? If you’re like most of Americans today, you reach for your credit card! This is a HORRIBLE plan.
All of us assume that we’ll pay off the debt and it will be no big deal, but then the car needs all new brakes…and then the water heater goes out…and then you find out that you need a surgery. Suddenly, your credit card balance climbs to $15,000 and you can only afford to make the minimum payments (don’t tell me this won’t happen… This is how it happens to everyone, and it happens all the time!).
Instead of using that dumb credit card for emergencies, do whatever it takes to save up $1,000 and put it in the bank (AND DON’T TOUCH IT).
How do you save up $1,000?
- Sell some of your antiques, tools, or gadgets
- Put your skills to use and make something to sell
- Find a part-time job (like delivering pizzas)
It’s not rocket science, just do something that will earn you money and keep your dirty little paws off of it!
2) Pay off all consumer debt
You know that student loan debt that’s costing you 6.8%? And the credit card balances at 14.2%? Yeah…you should probably pay those off before you start investing in a motif.
- Student loans
- Car loans
- Credit card debt
- Medical bills
These are the types of debts you want to take care of immediately. After all, by paying them off, you get the guaranteed return on the interest that you no longer have to pay! No risk, big reward. That’s what I’m talking about.
3) Build up your emergency fund
Once you get out of debt, it’s time to invest…
Before you do any investing, you really need to set aside a bag full of cash in case something bad happens (you know, like all that stuff I mentioned in #1… plus the chance of job loss).
No matter what happens, you want to make sure that you can survive for approximately 6 months without having to pull out that “emergency” credit card.
Plan for rain, because no matter who you are, it’s going to pour at some point.
4) Invest in your future
Alright. Now it’s time to invest! Here’s the order I recommend.
- Invest in your 401k/403b up to the company match
- Invest in your Roth IRA
- Invest in real estate if it intrigues you
- Start investing in a motif!
How to Start Investing in a Motif
I joke around, but to be honest, my motif has been awesome. I just don’t think it should be number one on anyone’s priority list (hopefully you see why now).
Once again, here’s the steps you should take before you start investing in a motif:
- Put $1,000 in the bank
- Pay off all consumer debt
- Save up a solid emergency fund
- Invest in your retirement, and THEN start investing in a motif
So how do you do it? It’s incredibly easy actually, plus I put together a handy-dandy “how to” page that will help you sign up and fund your account.
What Do I Invest In?
I’m no financial advisor, and I’m certainly not an investing guru, but I don’t foresee the stock market getting much higher than it is now. In fact, I’m waiting for the bottom to drop out at any moment.
This is why I’m invested in:
….as a hedge against the market crash. When uncertainty is up, so is the value of silver and gold! This motif is currently up 12% since I bought it 3 months ago.
I’m also looking into a large-cap fund that pays out awesome dividends (and should fair well in a down economy). It’s called:
Your Turn – Investing For a Better Future!
Alright, so you’re out of debt, you’ve built up your emergency fund, and you’re contributing to your 401k through work. Now you want to start having some fun with motifs, AND I FULLY SUPPORT YOUR DECISION.
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.