Sunday, January 27, 2008

Starting Your Savings Now

Throughout the rest of this blog, I tell you about different types of investments that match your investment goals. To start out with any sort of investment, you need a cash reserve —and the amount varies, depending on your investment choice.
As you’re doing your research and deciding which investments match your goals, start putting away $100 a month in an account earmarked for investment. By the time you determine the investing opportunities that best fit your needs, you should be well on your way to affording your investment. Watching your dollars multiply can serve as motivation in itself: Your investment accounts may become as or more important to you than some of the other expenses that have eaten up your money in the past.
If you’re the type who’s been saving gobs of cash in a bureau drawer for a long time and now want to start earning real interest, you’re one step ahead of the pack. You have the discipline. Now what you need is the knowledge and the tools. The following sections give you the tools you need to select investments and create an investment plan to meet all of your goals, including retirement. You also get the information you need to monitor your investments, so you can keep your plan on track.

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