Can You Afford Not To Look After Your Personal Finances?

Investing is a subject a lot of people don't want to think about. And there is good reason for that. Investing seems scary. It either sounds like something only the rich do or something that only a skilled professional can do. But the truth is that investing is something that everyone can and should do-as soon as possible.

Why should you start now?

Think about this. There are two ways to make money. You can exchange your time for money or you can make your money work for you. Most of us work 40 hours a week. In this case, you are trading your time for money. But wouldn't you rather earn more than you are making? If you are making $1,000, wouldn't you rather be earning $5,000? Most people think the only way to earn more is to work more. Work overtime is their motto! But there is more to life than working. Investing gives you the chance to let your money work for you-saving you time and earning you money.

But is the purpose of investing to get rich?

Some people don't invest because they think that investing is something you do to get rich. They figure they'll never earn enough to get rich, so why bother. But that's not what investing is for. Investing is a way for you to be able to maintain your current lifestyle.

Think about this: what if the company you worked for suddenly closed down? What are you going to do when you get to retirement? Sometimes working more is not a viable option. Investing gives you another source of savings and earning income. You don't invest to become a multi-millionaire (of course no one would stop you if that happens); you invest so that you can provide for yourself in the way you are accustomed to both before and after retirement.

Many people are convinced that investing is the right thing to do at this point, but, there are some misconceptions people have about investing that prevents them from actually doing it. These misconceptions are that:

Investing is too hard

Investing is too risky

You need a lot of money to invest

Let's look at each one of these misconceptions.

Investing is too hard.

You may think that investing is just too hard. But a lot of that has to do with the terminology of the investment industry. I mean who knows what Fed Fund rates, mutual funds, indexes, or blue chip stocks are? But you don't need to be scared off by a bunch of words-in the end they are just words. Just like you probably didn't know what PMI was before you bought your first house or what APR was before you got your first credit card, you can learn what these things are. And you will find that they aren't so hard to learn. And if you seek the advice of a professional, they can explain it to you.

Investing is too risky.

Some people have the idea that investing is risky. Movies such as "Wall Street", no doubt, lead people to think that. But the fact is that investing is only as risky as you want it to be. Do you want to take huge risks? You can invest in international stocks. Want to play it safe? Go with bonds. The risk level is up to you and only you.

I can't afford to invest.

Many people think they can't afford to invest. But when you look at the alternatives (social security may not be there, job security is not 100%), you really have to ask yourself how can you afford not to invest. And the earlier you start, the more money you will earn. Even if it's only a small amount, the money you invest today will earn you big in the future.

Read More Free Investment, Wealth Creation & Personal Finance Articles & Tutorials at: http://www.global-investment-institute.com

The Global Investment Institute has been setup to aid people in the pursuit of a better lifestyle through managing their money effectively, investing wisely and wealth planning for their future.

In The News:

5 Proven Ways to Double Your Money  Waco Tribune-Herald

Roth IRA Contributions - IRS Rules

Confused about whether you can contribute to a Roth IRA?... Read More

Make or Break Your Retirement!

The Prudential has dubbed those who refuse to leave home... Read More

Simple Ways to Save Money

Things are so expensive these days. We seem to be... Read More

10 Quick And Cheap Ways To Cut Your Heating Bill

When you received an energy (heating) bill last winter, were... Read More

Financial Security

1) HOW TO LOOK FOR A JOBA) The Chronological Curriculum:1.... Read More

Saving Money On Gasoline For Your Automobile

The gas that we fill our tanks with every week... Read More

What is a Traditional IRA?

With a traditional Investment Retirement Account (IRA) you pay taxes... Read More

Single Mother and Learning how to Save

Saving may seem easier if you were saving for a... Read More

UK Graduates Looking Short-Term At Their Long-Term Financial Responsibilities

With almost two thirds of university entrants from England and... Read More

Budgeting -- The Critical Flaw That Causes Most Budgets to Fail

Budgeting. It's a word we're all familiar with. Everyone knows... Read More

Save Money on Groceries: Part I

One universal of humanity, no matter who you are or... Read More

The Wonderful World Of Address Labels

Ever wonder where address labels come from? Avery® is perhaps... Read More

Improve Your Professional Image Using Address Labels

One of the simplest ways to improve your professional image... Read More

Introduction to Australian Superannuation

Australians, in general, constitute some of the worst savers in... Read More

Check Fraud and Verification

Before buying personal or business checks you should inform yourself... Read More

Personal Checks ? Extreme Benefits

Millions of people have a checking account and many people... Read More

Organizing Your Finances - Thinking Outside the (Shoe) Box

If you're like most people, your personal financial records are... Read More

Photo Checks ? A Great Alternative in Checking

It's the little things in life that make it interesting.... Read More

Budgeting is Bothersome

It doesn't take much for you to get behind on... Read More

Knowing Me, Knowing You: Why ID Protection Plans Are Flawed For Fraud

ID theft is a major consumer concern, though there is... Read More

5 Ways to Absolutely Destroy Your Finances!

Ben Stein has a book called How to Ruin Your... Read More

Accessing Funds You Never Knew You Had- Household Utilities and Mortgage Expense Reduction Plan

For most of us the process of getting out of... Read More

Top 10+ Ways to Jumpstart your New Year?s Finances!

Of course, these don't have to be done in any... Read More

Vacations Made Easy: Buying a Florida Investment Property

Vacations Made Easy: Buying a Florida Investment PropertyA relaxing beach... Read More

Can You Afford Not To Look After Your Personal Finances?

Investing is a subject a lot of people don't want... Read More