{"id":42732,"date":"2023-07-31T17:26:34","date_gmt":"2023-07-31T21:26:34","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/to-retire-someday-whens-the-right-time-to-start-investing\/"},"modified":"2023-07-31T17:26:36","modified_gmt":"2023-07-31T21:26:36","slug":"to-retire-someday-whens-the-right-time-to-start-investing","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=42732","title":{"rendered":"To Retire Someday, When\u2019s The Right Time To Start Investing?"},"content":{"rendered":"
\n

With constantly changing regulations, a market that seems to be continuously in flux, and inflation driving costs up across the board, it can be hard to know when and if you should start investing your money.<\/p>\n

So how do you know when you should start?<\/p>\n

When you\u2019re able to.<\/h2>\n

The most basic answer to this question is, \u201cas soon as you\u2019re able,\u201d because time is on your side when you start earlier.<\/p>\n

Any type of investing that you get involved in will perform based on several variables\u2014how much you put away, how often you contribute, what you\u2019re investing in\u2014but the most important variable you will always have is time. The longer you have for your investment to grow and mature, the better your outcome is likely to be.<\/p>\n

When you\u2019re out of adverse debt.<\/h2>\n

Consumer debt is a huge issue in our country, and student loans may be the worst contributor. If you\u2019re starting a career and want to begin investing, but you have enormous student loans or other debt, it may be important to begin chipping away at that debt first before you start focusing on investing.<\/p>\n

<\/fbs-ad><\/p>\n

Fill in the hole in the sand so you have a level foundation when you start building your castle.<\/p>\n

When you begin working.<\/h2>\n

When you start your career, you\u2019re likely going to be offered an employee benefit package that includes options for investing for retirement. How you start investing will depend a little bit on what your employer has to offer.<\/p>\n

If your employer offers a 401(k), for example, and there\u2019s an employer match, that\u2019s like an income tax-free raise. It\u2019s worth contributing to take advantage of the employer match, even if you have some debt to repay.<\/p>\n

When you understand your goals.<\/h2>\n

When you invest, you must consider your time horizon.<\/p>\n

Are you investing for the long term? Are you investing for a short term or a more immediate goal?<\/p>\n

If you\u2019re investing for the long term, you can put things into tax-deferred accounts, tax-favored investments, or other more illiquid investment vehicles that don\u2019t give you access to your capital until you reach retirement age.<\/p>\n

If you\u2019re investing for a shorter-term goal, like a first home, college for your kids, or just simply having a nest egg, it may make sense to be a little bit more conservative and to stay reasonably liquid so that you can access your capital when you need or want it.<\/p>\n

The lesson:<\/h2>\n

It\u2019s always better to start investing sooner than later and to be consistent along the way. If there are liabilities that you need to clean up, I would strongly encourage you to do that first and then look at the various options. Try to find the free money\u2014whether it\u2019s a match in a 401(k), a health savings account, a profit-sharing plan, or a stock purchase plan where you can buy company stock and get a discount on it. There are a lot of ways to amplify your retirement savings, including having some assistance from another party, but you have to start as soon as you\u2019re able to do so.<\/p>\n<\/div>\n

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The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor with regards to your individual situation. Comments concerning the past performance are not intended to be forward looking and should not be viewed as an indication of future results.<\/em><\/p>\n

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA\/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Brotman Financial Group, Inc. and BFG Financial Advisors are not affiliated with Kestra IS or Kestra AS.<\/em><\/p>\n

Investor Disclosures: https:\/\/bit.ly\/KF-Disclosures<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

With constantly changing regulations, a market that seems to be continuously in flux, and inflation driving costs up across the board, it can be hard to know when and if you should start investing your money. So how do you know when you should start? When you\u2019re able to. 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