How to Start Investing in Your 20s - TheJobNetwork

How to Start Investing in Your 20s - TheJobNetworkWhen it comes to making plans, long-term savings and investments might be the furthest thing from your mind. Im a millennial, you say. I have plenty of time to absprache with that And while this is may be true, technically, its totally in your interest to take a hard look at what you can do to get abfluged. I have plenty of time turns into Meh, Im busy, Ill deal with it later, which turns into Yikes, where did the time go? googletag.cmd.push(function() googletag.display(div-gpt-ad-1467144145037-0) ) Personally, I remember sitting in a standard 401(k) seminar at work, where younger employees were advised to start saving as soon as possible. The guest investment advisor trotted out a horror story of a sweet old lady who retired with grand plans of freedom and travel, only to find $12,000 in her investment account. The tone and implication were similar to those stories that high school health teachers tell you to scare you away from wel l, everything, but it was an effective tactic. Knowing myself, Id keep putting off big financial investment decisions until later, until I was that sweet old lady with no savings. The story may or may bedrngnis have been true, but it hit the mark.And the numbers are persuasive. Finance site Betterment lays it out pretty clearlyConsider this If you start saving just $1,200 a yeara mere $100 per monthstarting at age 25, by age 65 youll have about $185,700 (assuming a 6% return).If you put off investing in your 20s, youre potentially leaving a lot of money on the table. According to Betterment.coms example, someone who waits 10years longer loses almost half of that total nest egg. Plus, youll have to answer to 65-year-old-you, too.Why Start Investing Now?If youre in your 20s, entry-level salaries and the costs of living out on your own can make investing seem like an impossibility. Sure, a healthy retirement account would be great to have, but what about rent/food/phone bill in the mea ntime? Even though it may sound counterintuitive, budget-wise, its actually the right time to start down the investment path.Time is on your side. Like the old Rolling Stones song, time really is on your side here. The same reason you might be giving to put off investing in you 20s (plenty of time) can be tweaked slightly to justify a more proactive approach plenty of timefor my investments to grow.You can afford to be aggressive. As you get older, you might be more hesitant to make aggressive or risky investmentsafter all, youre getting closer to the time where youll want to have access to the money youve earned through your investments. When youre in your 20s, though, it goes back to point 1 you have time to absorb short-term losses, or make higher-risk investment choices that could yield higher rewards. Lets notlage forget that investing means buying into the stock market, which always incurs some degree of risk.Theres no magic time to start, so why not now? This whole process is on youits your money, and your timeline. If youre thinking of having a family (however eventually) or buying a house, youll become even less likely to think about extra financial matters like investing when youre busy getting through the day-to-day. If you get started now, making investing a part of your financial routine, its one less New Thing to add later when there are extra stresses on your budget.You never know what will happen later. Job losses, illnesses, financial curveballsall of these can happen to any of us. Working on your investments and savings now can help you manage surprises and losses down the road and prevent you from losing more long-term ground than you would if you hadnt done any saving and investing.How to Get StartedSo now you have the reasons to start investing in your 20snow what? Lets look at the things you should start doing ASAP to start making progress in your financial plans.Pay off your student loans.If youre one of the 70% of people who graduated w ith student loans in the past few years, you know that this is not a little task for you as you start out in your career and in your post-college life. Its a huge part of your financial picture, and it can seem like a dark, looming mountain that you cant possibly chip away. Business Insider recommends coming up with a personal spending plan that allows you to pay off those loans as soon as you can, so that you dont have that debt looming over your future longer than it needs to be there. Do what you can do, as you can do it.Come up with a budget.A real and realistic budget of what you have coming in, what you need for essentials, and what you can spend on non-essentials and financial future planning. If youre not already budget-inclined, it can feel like a painespecially when it might not allow you to do/buy some of the extras you really want. Once youre serious about creating a budget you can stick to, there are lots of tools that can help you do it.Set your goals and start saving toward them.Want to have a down payment on a house in five years? Take a deluxe trip to Europe for your 30th birthday? Think about some of the big-ticket items you want to have in your future. Once you have those in mind (and an approximate price tag), set a savings schedule.Sign up for your employers 401(k) program.A 401(k) is a retirement investment account where your contributions are taken out of your paycheck pre-tax. So youre not only putting your money into an investment account that will chug along under the guidance of investment professionals, but you can decide how hands-on or hands-off you want to be in those investments. Plus, theres a huge benefit if your company has a policy of matching employee contributions. That, my friend, is free money for your future.Or sign up for a Roth IRA.If your workplace doesnt offer a 401(k) program or you dont want to go that route, you can also opt for a Roth IRA account. This is also an investment account where you can set automated co ntributions, but unlike a 401(k), the money in this account is not taxed when you pull the money out for retirement. However, there are also yearly caps and income requirements, so if you go this route, its important to understand the benefits and the drawbacks.Dont go too crazy.Theres risk that leads to greater rewards, and theres risk that leads to a series of bad decisions and a wiped-out investment account. Especially if youre just starting out in investing, Nerdwallet recommends investing in index funds, a.k.a. exchange-traded funds. In these, youre buying into a portfolio that includes a number of investments, instead of buying specific numbers of shares of specific companies or commodities. These funds are managed, and save you the hassle of having to choose, monitor, and shift specific stocks on your own.Get help.Youre not in this on your owntheres an entire industry of financial professionals who can help you navigate this process. If youre investing through your companys 4 01(k) or Roth IRA program, that program will have an administrator and advisor who can help you at every stage of the process. Also, since this is the future, you can also turn to robo-advisors to help you manage your investments. (No flying cars, but for now well take robot advisors.) Unless youre an expert on the stock market and investment options, get expert opinions to guide you before you put your hard-earned cash into any investments.Increase your contributions when youre able.While much of the heavy lifting in investing is involved in the process of getting started, this isnt something you should just forget once your investments are up and running. Review your investments frequently, and revisit your investment budget whenever you have an income change (a raise, a promotion, a new gig with a higher salary, a side hustle thats paying off). Make sure youre increasing your investment contributions as much as you can, when your budget allows.And the most important next step of all dont be afraid. As a twentysomething, you have the luxury of time and long planning to support your investment decisions. No matter what your salary and your budget are, its worth it to move past your reservations and start investing what you can. Starting small can have lead to rewards later, so why not start now? Future You will thank you, from that comfortable retirement chair.

5 Amazing Time-Saving Family Dinner Recipes For Working Moms

5 Amazing Time-Saving Family Dinner Recipes For Working Moms One of thebiggest stresseswe hear about from Fairygodboss members is dealing with preparing dinner for the family after a long day of work.So, what are youmaking for dinnerthis week? Weve got you covered.Weve selected 5 (ok, well, technically 4) of ur favorite recipes that are healthy, inexpensive and dont require a ton of ingredients. And as a bonus, they are great recipes for your kids to help you makeOh - and one of ourfavorite mom tips? Skip the trip to the grocery store, and order your groceries online Hello, Amazon PrimeMondayIts fast, healthy and hearty.Our favoriteChicken and Orzodish from Family Circle Magazine will take you only 15 minutes to make. (Thank God for that broiler)TuesdayTryMongolian Shrimp and Broccolifrom our friends at Delish. You wont believe how delicious and flavorful this recipe is. And if youre like us, you always feel better when your kids are eating broccoli. It only takes 25 minutes, but if you want to save even more time, you can simply skip step 1 and use a store bought Teriyaki sauce. And buy the shrimp already peeled and de-veinedWednesdayLets face it Wednesday is the hardest day of the week for dinner prep. It is just too far from both weekends Thats why we love thisBeef and Cheddar Casserolerecipe from The Food Network -- it takes only 5 minutes of prep time. ThursdayWe are big fans of a light meal on Thursday night because we know we are heading into the weekend when well probably be eating a little more, or a little less healthily. Check out this delicious 10-minutePan-Seared Salmon with Dill Butterrecipe from Tastes Lovely. We recommend sauting some spinach in olive oil on the side. Toss in some olive oil garlic salt (our favorite time-saver).FridayOur suggestion order pizza. Do NOT even attempt to make dinner tonight. You just finished a long week, youre exhausted, and you deserve to give yourself a little gift. If you feel up to it, you canmake a fresh side salad, like this delicious one from Real Simple. But pour yourself a glass of wine firstFairygodboss is committed to improving the workplace and lives of women.Join us by reviewing your employer