Word-Of-the-Week #777: Invest
June 27, 2019 by Susan Clarke · Comments Off on Word-Of-the-Week #777: Invest
Invest – to put time or money into something, hoping for a greater return.
How much time have you spent investing in yourself? Would you like to achieve more regarding your career? How about your retirement plan? Are you funding it monthly?
This is the 2nd half of the USA Today article by Ken Fisher, Female executives offer some career advice to younger women: ‘Leave the comfort zone’.
To Recap: “I asked top women at my firm what advice they would give women seeking to fulfill their vision of life.
Don’t settle for comfortable – “Be direct about your aims.” and “If you don’t ask for it, some other jerk will.”
Don’t expect to have all the answers – “Life is unpredictable. You need to be flexible and resilient.”
- Always fund your 401(k)
“Invest in yourself. Participate as much as you can in your 401(k). Get invested in the market and stick with a basic plan — don’t get too cute with it,” says Garrity
Coffey also stressed simplicity. “For longer-term savings, save all you can in any amount you can and invest in stocks. Look up in 20 or 30 years from now, and you will be glad you did.”
Then, some frank talk about the trade-offs accompanying marriage and kids.
If you’re going to marry, Garrity says, “Marry someone who supports you — personally and professionally. I wouldn’t be where I am today without my husband. I don’t like the phrase ‘you can have it all’ — it sets false expectations. You can have a successful career and family. But it takes hard work, compromise, direct communication and the realization it will never be perfect.”
- Create a support network
‘Realistic expectations rang Hitchcock’s bell, too. “If you’re to stay home to raise kids, understand you’re taking on major personal risk if something happens to the primary breadwinner in your family. Make sure you have enough disability and life insurance to support you and your kids if the unexpected happens. It happens.”
And make sure you have a support network, says Jarvis. “This group can help you navigate through opportunities and setbacks.”
Finally, they agreed, your path is up to you and no one else — to go your own way—maybe a bit like my mom did, just different.”
While these past 2 WOW’s have been directed toward women all of this advice works for both genders!
This week’s focus is on investing in you and your future! Have you spent time fostering relationships to create a support network? Do you have a retirement plan? Did you know that if you invest just $200 a month over a period of 30 years you could easily end up with over $228,000?
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