Investing is something that we already do, whether we are aware of it or not. We are investing as we juggle our resources like time, emotions, and finances daily. We can all become better investors with a bit of patience and practice.
When we invest our money, we buy assets with some of our money today, expecting that our investment will be worth more in the future.
Compound growth, or compounding, happens when an investment creates earnings, and then those earnings generate earnings.
SMART investment goals are specific, measurable, actionable, realistic, and timebound.
Our first step to saving for retirement is to define what we want our retirement to be. It will give context to our decisions about accounts, strategies, and investments later.