Tips for People Who Are “Too Busy” to Invest
Do you need some tips for people who are “too busy” to invest? Life is busy. Time never stops. Everyone has to determine his or her priorities. Sometimes that means no time to complete enjoyable or important tasks. Some are not that important, so it’s okay. But take care not to get so busy with little things, you never get to something as important as your investments.
How’s your investing coming? Have you started? Do you wish you had more time for research? If you’re finding it hard to invest, or you’re just “too busy to invest,” then you need to rethink your strategy. Almost anyone in the financial position to do so, should make time for investing. Even busy people can invest. And the sooner you start, the wealthier you can become. Here are some investing tips to help even busy people to get started.
Retirement Savings Plan – it all Starts with your 401(k) plan. This is the easiest way to start investing. Just set up your 401(k) through your work and start seeing your retirement savings grow. The sooner you start the more you’ll have down the road. Often employers will match employees contributions up to a maximum amount, or percentage of their compensation. There may be a way to request your HR department to look into it, as it’s a good way to reward and keep valuable employees.
Automation – life is full of instant gratification. And much of that comes through automation. Take the time to automate everything you can to simplify investing. It takes very little time to set up, and in many cases, you can just forget about it. This is especially true with your 401(k). But you can set things up to automatically process your investment activity, as well.
Use Robo Advisors – these so-called advisors help take the hassle out of investing. You answer a few questions and they’ll do the rest of the work. Based on your answers, they’ll invest in stocks that match your criteria and keep growing your portfolio.
Apps, Apps, and More Apps – remember when Apple started the phrase, “There’s an app for that?” Well, it’s so true, even for investing. In fact, the number of apps related to investing continues to grow at a high rate. These apps can really make investing easier and quicker.
Use Investment Funds – another way to save time is to invest in diversified mutual funds. This takes the guesswork out of diversifying your portfolio. You could invest in individual stocks, but if you don’t have enough time, then a mutual fund will be much easier and save you a lot of time.
Give Your Investment Monthly Attention – you’re busy. You don’t have time to check your portfolio every day. But everyone can set aside a few minutes once a month to review his or her assets. Take a little time every month to review your investments, evaluate your strategies, and tweak your plan if needed. A little bit of time each month will go a long way in making your portfolio successful.
We hope you found this article about “Tips for People Who Are “Too Busy” to Invest” helpful. If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page or our website at www.GROCO.com. Unfortunately, we no longer give advice to other tax professionals gratis.
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