Investing is not only for the rich

Many people think of the term “Investment” as a financial activity for the rich like in Wall Street movies, but the reality is that investing can be done without millions of dollars in your bank. Can you save $100 a month?

Why consider investing?

Future goals. Most people have goals, for example buying a house, children’s education or even save up to invest in a business venture.

Passive income. This is money that you receive through an investment such as a business, rental property or financial instruments that generate interests and dividends. These activities do not necessary require you to be active and therefore it’s considered “passive”.

Retirement stability. Paying taxes won’t guarantee that you will receive a reasonable pension (if any) from the government. It is always better to invest now so that you can have financially security in your retirement.

 

How to start?

Review your budget. First set up a budget if you haven’t’ done so. Review your cash inflows and outflows and see where you can improve to save money.

Talk to an expert. An expert in finance is a professional dedicated to advising clients on how to manage or invest their money for their future well-being. And if you’re a business owner then talk to your accountant about the possibilities of investing.

 Banks and independent firms. Most major banks have investment advisors that can help. It may be easier to manage all your finances under one roof. However, there are indepdent investment firms that work with national companies dedicated to retirement, life insurance and investments. I personally like independent firms because I enjoy the personalized customer service and I stick to the same professional for the longest of time.

 

DISCLAIMER: I am not a registered financial adviser/broker with any investment company, but, as a business and tax advisor part of my work involves helping my clients invest for the sole purpose of saving taxes and maximizing their after-tax wealth.

If you need assistance with your business finances or taxes feel free in contacting me at Business Solution Center | [email protected] | 956-466-4503 in Brownsville Texas.