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. getty 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 youâre able to. The most basic answer to this question is, âas soon as youâre able,â because time is on your side when you start earlier. Any type of investing that you get involved in will perform based on several variablesâhow much you put away, how often you contribute, what youâre investing inâbut 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. When youâre out of adverse debt. Consumer debt is a huge issue in our country, and student loans may be the worst contributor. If youâre 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. Fill in the hole in the sand so you have a level foundation when you start building your castle. When you begin working. When you start your career, youâre 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. If your employer offers a 401(k), for example, and thereâs an employer match, thatâs like an income tax-free raise. Itâs worth contributing to take advantage of the employer match, even if you have some debt to repay. When you understand your goals. When you invest, you must consider your time horizon. Are you investing for the long term? Are you investing for a short term or a more immediate goal? If youâre investing for the long term, you can put things into tax-deferred accounts, tax-favored investments, or other more illiquid investment vehicles that donât give you access to your capital until you reach retirement age. If youâre 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. The lesson: Itâs 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 moneyâwhether itâs 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 youâre able to do so. 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. 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. Investor Disclosures: https://bit.ly/KF-Disclosures Source link Post Views: 111 Post navigation The request could not be satisfied The “New” Bull Market May Be Short-Lived, According to a Leading Money Metric