week #12 Investing 101
Last evening we learned the difference between the Types of Investment & Investment Personality. What measure do you undertake to ensure your investment is well protected?
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Hello and welcome to the Community Renewal Team (CRT) 2024 Financial Literacy Institute Blog. This blog is not public; It is open to those enrolled in our Institute. We use this blog to communicate about assignments; to share resources, and to discuss matters of importance to you! We look forward to our shared experience! ~Eileen Feliciano
week#9 Savings and Wealth Building
Last evening, we addressed preparing for retirement and building wealth. How prepared are you? What measures do you need to undertake to ensure a retirement safety net? 6 ways to save for your retirement: Focus on starting today. Contribute to your emergency fund. Reduce debt with Avalanche or Snowball Method. Rein in spending Set a goal/ Automate your savings!
It seems my primary Investment Personality is that of Hands-Off Investor, except for that I would very much like to want to know what investment terms mean ...and be quite literate with them. I would probably be considered emotional about my decision-making, as I would really only want to invest in companies which demonstrate social consciousness and are honoring & respectful of Mama Earth / our environment.
ReplyDeleteI currently do not have any investments save for what personal property I have in my apartment home. For that, I protect my investment with renter's insurance.
I follow a hands-off investment approach, typically reviewing my retirement statements upon arrival in the mail and filing them away. I am interested in meeting with a financial planner to gain knowledge on making wise investment decisions with my earnings. Exploring tax- exempt investments is a priority, and I aspire to understand how to build a diverse portfolio in the future.
ReplyDeleteMaking wise, tax-exempt investments and creating a diverse portfolio are definitely doable with discernment, income flow, time, focus and persistence. You've got this!
DeleteHello Jessica, as fellow hands- off investors, I believe education is crucial in navigating the complexities of investments. The investment world feels like a different language to me. I appreciate your conscious investment choices, reflecting dedication both to the environment and personal growth.
ReplyDeleteThanks! I think what can be a stretch, once I fully accept all money flowing to me. For me, it is important to invest in companies that are not just pro-environment, yet also ones that are not affiliated - in ANY way - with forced, slave labor. It was only in the last five years that I realized how much slavery still happens in our world. Some of these include fishing, chocolate, coffee, diamond, and other precious metal industries. Not just working for a pittance, or indentured servitude, I speak of fully oppressed humans.
DeleteFor now, I buy as much "Fair Trade" products as possible. Attending to social consciousness may not be easy, as I understand it can be hard to follow the money trails - yet at least I would be aligning with my values.
I'm definitely hands-off. By having the class the other day makes me want to learn and understand more. My job having classes to learn about different investments thru Fidelity. The only thing is classes are during my scheduled work hours. I'm going to contact Fidelity to see if I can link up with someone to learn and be more knowledgeable. Like Jess said before knowledge is power.
ReplyDeleteGreat idea Stacy! Following up with Fidelity to see what investments they are instructing, will give you clarity. Onward and upwards!
DeleteMy job also have this meetings, but the hours are inconvenient they are during working hours. I agree knowledge it's key. Stacy it's a good idea to meet with them.
DeleteJess I understand understand where you coming from. It's another foreign language for me. It can be overwhelming and challenging at the same time. You're not alone. We can take baby steps to increase are understanding.
ReplyDeleteJess as Stacy states you are not alone. I to feel clueless. We will be ok.
DeleteNicole I love your ambition and drive to learn. I'm going to be coming to you and asking for advice. Continue to strive and get all you can. Thank you for the motivation.
ReplyDeleteGreetings Stacy, I encourage you to seize the opportunity provided by your company. If you miss the presentation, I hope they offer it again or provide a recording. Investing presents both challenges and intrigue, and education is crucial for thriving in this economy. If you require help finding information, feel free to reach out. Wishing you success.
ReplyDeleteI have to say this was the hardest class for me. It was a lot of information I just didn't understand. It was like they were speaking to me in another language.
ReplyDeleteStocks/bonds I know absolutely nothing about.
Like I had explained I have a 401k and believe I picked the right plan for me. it is something I look forward to continuing having.
This week I will be attending my company's presentation on coverages and look forward to being able to understand and pick the right ones.
Focusing on your current investment, gaining even more clarity to ensure it is as optimal for you as possible sounds great!
Deletethanks Jess :)
DeleteI consider myself hand off partly I do check my statements yearly and compare it from the year before. I usually do 50% high risk investment and 50% low impact investment. I do want to learn more when it comes to buying stocks. Gain more knowledge on the subject.
ReplyDelete