Easy Steps To Invest Consistently

Easy Steps To Invest Consistently

Investing consistently is the very best thing you can do for your future you. I get it the struggle is real! There are so many things vying for our attention that it’s easy to put things off or forget about them completely. Your future will be here before you know it. Believe me, I woke up & found myself at 49! How the hell did I get here so quickly?

Your future you will thank you for taking the time today to plan for tomorrow. What do you want to be or do when you grow up?

Do you want to:

  • Travel the world
  • Open a restaurant
  • Pay for your kids to go to college
  • Live your future life comfortably

If you answer yes to any of these things then you need to come up with a plan now rather than later.

MAKE IT A HABIT

Investing consistently, a bit out of every paycheck, is powerful. There’s the plain and simple fact that you’re building up your wealth, deposit by deposit. And if you put it on autopilot, there’s the whole “out of sight, out of mind” thing.

There’s another reason why the practice of consistent investing has historically been good for investors. And it’s so compelling that it even has a name:

DOLLAR-COST AVERAGING

Boring term. But a BFD for your bottom line.

Dollar-cost averaging is investing a consistent dollar amount at regular intervals of time, no matter what’s going on in the market. Example: a $100 recurring deposit into your investment account every month.

Why Does It Matter?

Ellevest says investors want returns. And some investors, in an attempt to earn as much in returns as possible, make a grave mistake: attempting to “time the market.” They think they can guess what will happen next, and try to “buy low” and “sell high.”

Bad idea. No one — no one — knows what the markets will do tomorrow. Not us. Not that confident-sounding guy on TV. Not even the people who are paid to do it.

That means you’re inevitably going to feel it on days when the market goes down. Bummer, yes, but it’s not all dark and gloomy. Here’s why: When the market’s down, that $100 deposit will get you more shares of stock. (That’s why you might hear people say that the markets are “on sale.”)

Example

Say the market was humming along, then plummeted, and then started to come back up.

Here’s what would happen if you were to keep investing consistently the whole time:

And here’s what would happen if you were to keep your money in a bank account while the market was down and then invest what you’d saved once it started to come back up:

In the first example, while your investments did lose value temporarily, it worked out pretty well for you after the market rebounded. In the second example, you missed out.

Back to real life. By using dollar-cost averaging, you take your own emotions (aka an investor’s worst enemy) out of the equation. You get rid of the risky guesswork, make investing a solid habit, and give yourself the opportunity to grow your net worth steadily over time. Pretty compelling reasons to invest regularly, right?

Here’s a compelling reason why “regularly” should start … right now.

Are you ready to start investing in your future you? Ellevest can help!

*I’m excited to work with Ellevest to start conversations about women and money. If you become a client, I will be compensated.

21Shares
Women In Biz #7 Doreen McGettigan

Women In Biz #7 Doreen McGettigan

 

Welcome to the sixth in our “Women In Biz All Around WordPress” feature that will run the 1st Sunday of every month. It’s a new series where we spotlight amazing women and the ways in which they have used WordPress to spread their message, sell their products, or provide valuable services.

The hope is to inspire other midlife women to build their online businesses and find what we’re all looking for; financial freedom, a lifestyle they love, and excitement they may have been missing! All of these women are clients of mine who have inspired me over the years and I think they will inspire you as well.

This month I want to introduce you to Doreen McGettigan from DoreenMcGettigan.com. Doreen is an Author, a Writing Coach & a Writing Consultant. If you’ve ever thought about writing & publishing a book then Doreen is someone who you absolutely need to know!

For years, she has been a blogger who has lent a helping hand to other women who dream of becoming an Author. Offering advice & support to anyone who takes the time to listen. These days, though, she’s taken that a step further and by opening her own consulting business she can work with clients one on one giving them useful advice, important tips, and ideas that you may not have even considered!

Just like with anything in life when you put yourself in the hot seat you look for advice from the pros that have come before you and that’s exactly what Doreen is. A consummate professional, an encouraging consultant & also a pretty amazing friend. We’ve been blogging buddies for a long time, meeting at a Blogging Conference years ago, but after winning a contest in 2016 she became a client and has been ever since.

Let’s hear from Doreen:

Tell us a little bit about you

I live just south of Philadelphia, am married to a man I met on Match.com 13 years ago. (Its never too late) Together we have 5 kids and 13 grandkids. I’m a bestselling author, award-winning blogger, speaker and teacher. I help people write, publish and market books. I’m on the board of Family Promise (homeless organization) and I volunteer at the shelter and drive the van.

What made you first decide to build a blog or website? How long have you had your site?

I started my blog 8 years ago to connect with other writers while I was writing my first book.

What is your niche?

Writing/Publishing and Marketing. I also do some influencing, caregiving, travel and family stuff.

Of all of your blog posts or pages on your site which is your favorite?

Any that include my grandchildren.

What is your favorite social media platform and why?

Instagram because it’s so easy and Twitter second because I get most of my clients there and media requests.

Do you find WordPress easy to maneuver or do you avoid the back end like the plague?

I avoid it like the plague. There’s so much I wish I had time to learn.

Is your site a business that makes money or a passion that makes your heart sing?

Both for sure.

If you use your site for business what do you sell or what service do you provide?

I consult on all things writing, publishing and marketing. If you’ve ever said I could write a book, we should talk.

What is one thing you’d like people to know about you?

My motto is to spend more connecting with all types of people and zero time competing.
As a published author and consultant Doreen is giving a huge helping hand up to all of those future-writers out there who want to get advice from someone who’s been there and done that!

FIND DOREEN HERE:

4Shares
Facebook & Instagram Land Another Kick In The Gut For Small Businesses Everywhere

Facebook & Instagram Land Another Kick In The Gut For Small Businesses Everywhere

We should be used to it by now, every few months Facebook & Instagram find other ways for them to make more money and that has our reach shrinking faster than a $3 shirt from Walmart. They can’t stop a Russian from interfering in our election process but they can sure as hell drop your page likes like a hot potato fresh out of the oven!

Listen, FB knows it, we know it, hell even the kids down the street know it. Even with all of the turmoil, they cause somehow they are still the best marketing game in town. Even with the changes, they are making and there are many it’s still easier and more cost-efficient to run FB ads over any other kind of ad. It just is. There are 2.27 billion (That’s a Billion with a capital ‘B’) and 75% of us log in every single day!

So what are these big changes you ask? Well, let me count the ways…

  1. The desktop FB feed is getting a total overhaul. There will be an algorithms update sometime in the Fall of 2019.
  2. Organic Targeting improves your ability to increase your organic reach on FB pages.
  3. Comments & shares will become more valuable and a heart will be worth more than a like.
  4. Organic reach will depend on relevancy and quality.
  5. The more engagement=the more reach.
  6. On FB mobile feeds you will only allow 3 lines of text & smaller image sizes.
  7. On Instagram, likes and video counts are going away.  Lower interactions and the new social proof is catching one’s interest.
  8. Removing low-quality posts, the explorer feature or low-quality hashtags.
  9. Comments will become more important.

So what can you do, the small business owner, that will keep your business in the green & keep you from seeing red when you’re FB or Instagram reach grows smaller and smaller.

  • Don’t waste money boosting posts.
  • Have a sales funnel in place.

You have to do seven things:

  1. Grab attention.
  2. Acknowledge pain point.
  3. Encourage immediate attention with a great value offer (39% of users will interact with what they see as a good value.
  4. Maker yourself relevant– Build that know & trust factor.
  5. Build relationships.
  6. Capture as little information as possible (Name & email).
  7. Nurture your future clients.
  8. Your email list is your most IMPORTANT ASSET!
  9. Close the sale.
  10. Follow through and up with.

So what’s the takeaway from all of this information? You can’t beat it and you should probably join them because let’s face it FB ain’t going away any time soon.

 

6Shares
Clever Emergency Fund Solutions To Keep You From Becoming Homeless

Clever Emergency Fund Solutions To Keep You From Becoming Homeless

Picture this: Your car blows up & your warranty is a thing of the past, you get sick and can’t even go to work much less pay the doctor, your employer folds up and files for bankruptcy or that baby you have been waiting for turns into three right before your very eyes.s What are you going to do?

Your stress level just shot through the roof, but this is life and nobody’s lane is bump-free. Hell, I’m not sure mine is even paved. It’s small things like this that can throw you off track quickly.

According to the Fed’s most recent survey40% of Americans would struggle to pay for an unexpected $400 expense without selling something or borrowing money. So whether you think of it as an emergency fund, a rainy day account, a financial cushion, or an “uncertainty fund,” you need one.

HOW MUCH DO YOU REALLY NEED TO HAVE IN AN ‘EMERGENCY FUND’?

At Ellevest, we typically recommend that you set aside three to six months’ worth of your take-home pay for emergencies. That can feel like a really big number, especially if you’re starting from scratch … but it’s one of the most important things you can do with your money. Because imagine if you needed it and didn’t have it. (Ouch.)

We can almost hear you thinking it: Three to six months is kind of a range. How much do I really need? There are two things that come into play during that decision: how much uncertainty you might have to face and your personal comfort level.

The shakier your financial ground is, the more you need to have.

FOR EXAMPLE

if you freelance full-time as a single mom and own a fixer-upper, you’re probably going to want closer to six months’ (or more) of your salary saved up. (Also, you are a superhero and we bow down to your amazingness.) Or if you’ve been in a steady, salaried job for a while, share finances with someone (like a spouse), and have no dependents and no mortgage, three months is probably good for you. (Heck yeah. You’re killing it.)

But maybe you’re in a stable, salaried job and share finances with someone in a stable, salaried job — and yet, three months doesn’t feel like enough security for you. In that case, save more. These are just guidelines, so do what feels best for you. (Just don’t keep all your money in cash. That can really cost you — here’s why.)

Once you’ve decided on how much you need to have there are three things that can help you get there.

  1. Pay down high-interest-rate debt — anything more than 5% — before you get started. Waiting to pay that debt off can really cost you.
  2. Find a high-level budgeting guideline that’s flexible enough to work for your life. Like the 50/30/20 rule.
  3. Work your way up, and set mini-goals along the way. Maybe your first goal is $1,000, and then one month’s expenses, and then two, and then three.

WHERE SHOULD YOU KEEP YOUR EMERGENCY FUND?

Keep your emergency fund in cash in a bank account. Make sure that’s FDIC insured.

Ellevest’s Emergency Fund goal is held in FDIC cash, so that might be a good place. High-yield savings accounts are another option. We don’t recommend putting your emergency fund in a certificate of deposit (CD) or any other type of account that doesn’t let you make withdrawals whenever you want. Don’t risk it.

WHEN SHOULD YOU USE YOUR EMERGENCY FUND?

Definitely an emergency: Anything unexpected that you absolutely must pay for. Your water heater breaks. You have to travel to see a sick loved one.

Definitely not an emergency: Things you want but don’t really need, or things that you could save up for. Think last-minute vacation plans or your annual insurance premiums.

But there’s also a gray area, and that’s different for everyone — here’s Ellevest’s best advice to help you decide what is and isn’t an emergency for you.

Saving up three to six months’ take-home pay, in cash, for emergencies only, is one of the earliest steps you can make if you want to take control of your financial future. (Wondering about the others? We’ve got you. Here are smart money moves to make at every age.)

Are you ready to start investing in your future you? Ellevest can help!

*I’m excited to work with Ellevest to start conversations about women and money. If you become a client, I will be compensated.

32Shares
You Need To Start Investing ASAP & Here’s Why

You Need To Start Investing ASAP & Here’s Why

Have you come up with excuses why you’re not investing right this minute?

Excuses like these:

  1. It will be easier once I get that raise.
  2. I just don’t have time.
  3. It’s overwhelming to think about learning to invest properly.
  4. Money just makes me squeamish.

Believe me, I used all of these excuses and even more. I have avoided money conversations my whole life, but at 49 I realize that I am only hurting myself. If I had started younger I’d be much better off when I get older. Still starting is much better than not… at any age.

WE LOSE MONEY EVERY SINGLE DAY WHEN WE DON’T INVEST

It’s easy to put investing off. But every single day you wait could cost you about $100. Yes … a Benjamin according to Ellevest. Click To Tweet

Give Ellevest a try!

“I’m excited to work with Ellevest to start conversations about women and money. If you become a client, I will be compensated.”

 

 

76Shares

JOIN THE BLOGGING 911 COMMUNITY

Subscribe To Receive Important Tips, Deep Discount, & Full-Access To The Blogging 911 Resource Library!

You have Successfully Subscribed!