Freedombyfi

60 year old you is doing a happy dance rn all because you did this👇:

You invested!🎉

Here’s how to get started:
✅ Open a brokerage account. You can do this online pretty quickly and easily - two popular brokerages are Vanguard and Fidelity.
✅ Transfer funds to your account. We set up automatic monthly payments so that we’re hitting our investment goals and paying ourselves first.
✅ Invest the funds that you transferred into your account. We personally invest in low-cost index funds or ETFs that track the total stock market or the S&P500.
✅ Start ASAP. Time is your best friend! The more time you have your money invested, the more it can grow due to compound interest. As you can see in the chart above, the younger you start, the less money you’ll have to invest each month to reach the same goals as if you were to start later in life.

If you feel like you can’t afford to put away the amount of money that corresponds with your age based on the above chart, that’s okay! Everyone’s situation is different and we all need to start somewhere. Start small if you can, and focus on increasing your monthly contribution amount little by little.

We understand that not everyone has the funds to invest each month. If that’s you, here’s what you can focus on instead:
✨ Increasing your income. Ask for a raise at your current job, seek out a higher paying job if possible, or work on side hustles in your downtime. We know working in your downtime isn’t ideal, but think of it as a temporary solution.
✨ Decreasing your expenses. This step takes a lot of self-discipline, introspection, and honesty. Does your spending reflect your values? Do you spend on things that make you truly happy? Are you overspending on things that don’t? Asking these questions, reducing unnecessary spending, and sticking to a budget will help you course correct and live below your means.
☑️ Once you’ve completed these two steps, you should be able to free up some money to start investing!

↗️ Share this with a friend to help make them a millionaire📩

💥Please note: This is not financial advice - just financial education.