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.

---

Im Broke, How Can I Afford...

I'm still amazed every time someone comes to me complaining... Read More

University: A Course in Personal Finance

Recent findings from the Educational Policy Institute indicated that the... Read More

Are You Ready To Be Fired?

Your boss has just informed you that your department is... Read More

How to Save for A Down Payment

Saving for a Down Payment is hard work, so it's... Read More

Money Saving Tips. Maximize Savings on Everyday Items!

Frugal living is more than a lifestyle. It's a passion.... Read More

5 Ways to Absolutely Destroy Your Finances!

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

The World is Not Enough - Calling for a More Ethical Approach to Personal Finance

At a time when the entire world's attention is focused... Read More

Financial Security

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

The Magic Of Compound Interest

Christians are called to be good stewards of God's resources.... Read More

Honor Those Who Serve with Checking Account Supplies

Our global society has had a wake up call in... Read More

Succession Planning

Have you ever thought about what you are going to... Read More

Single Mother and Learning how to Save

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

Personal Checks ? Extreme Benefits

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

Healthy Eating On A Budget

It is possible to eat a healthy, balanced diet without... Read More

Save Money on your Clothing Budget. Tame the Closet Monster!

Reducing the clothing budget was a serious challenge for me.... Read More

Take Control and Master Your Kitchen

Those who keep a watchful eye on where their money... Read More

UK Parents Inactivity Harming Their Children?s Future University and Mortgage Savings

The British government at the beginning of this year officially... Read More

7 Simple Ways To Save Money

Each of us knows how to spend money, but do... Read More

Budgeting: A Tough Love Way to Handle Your Household Budget

Developing and living by a household budget is by far... Read More

Resources to Help You Learn About and Protect Yourself from Identity Theft

There is a new bill that is being passes, it... Read More

A Fresh Start for Family Finances in 2005

While 40% to 50% of us make New Year's resolutions... Read More

Roth IRA Contributions - IRS Rules

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

What?s New in Checking ? From Designs to Photos

Just about everyone has a checking account. Checks present easy... Read More

Vesting and Your 401(k)

Do you have a 401(k) retirement account? Are you vested... Read More

Understanding and Controlling Your Finances

Have you ever wondered what it would be like to... Read More

When do You Need a Financial Management Company on Your Side?

We live in a crazy world. Someone ought to sell... Read More

10 Tips To Save Money When Dining Out

Here are some tips that can help you save money... Read More

Improving Your Financial Position

If you want money you need to learn how to... Read More

Check Facts and Figures

Are you a check fanatic? Don't worry, you aren't alone.... Read More

How to Save Money in a Grocery Store

Now there are ways to save money in the grocery... Read More

Whats The Truth Behind Your Finances?

Between 15 - 20% of people in our country (UK)... Read More

Ways to Save Energy and Slash Electricity Bills

1. Lighting & Light Bulbs Install low energy light... Read More

Do You Really Need the Power of Money Management Software?

I have been a loyal user of Quicken(R) for more... Read More