11. Invest in Retirement
Ready to invest? You are freaking rocking it!
If you’ve reached this point, that means you have paid off all your consumer debts, you’ve saved up money in your emergency fund, and now it’s time to invest for your future!
This is my absolute favorite step, but it can be the most daunting for some people.
Truthfully though, investing doesn’t have to be complicated.
Do you have access to a 401(k) or a 403(b) through work?
Do they match your contributions?
If so, that’s a great place to start!
If you’re uncertain of what to invest in, you could just do what I do (which many believe is the best way to invest…and that is to do it simply):
- Find a fund that tracks along with the stock market as a whole – typically called something like an S&P 500 Index Fund. The fees are low and the returns are typically 7-9% a year (as an average – some years may lose, but other years may earn 20%)!
Don’t have a 401(k) through work?
Then perhaps you want to invest on your own.
Check out Vanguard!
They have a great assortment of funds that track the overall stock market. Personally, I’m investing in VFIAX and it has been doing fantastic!
Beyond this, if you want to invest further, I’d suggest that you either invest in your own business, or put some money into real estate!
Check out the articles below for more information on investing!