Agora Financial is all about making investing simpler and easier for the average individual. The financial industry tries to make things complicated with confusing terminology, crazy indicators and a bunch of other stuff. At Agora, they simplify investing. In this article, I’m going to be breaking down the main things you should focus on before you invest a dime of your hard-earned money.
- Choose goals
In order to strive for something, you have to know what you are striving for. In other words, you have to know and fully understand what you are investing in and know how it’s going to get you to your end goal. You need to know whether you are competent enough to invest on your own or have a professional do it for you. You need to have both short term and long term goals when it comes to investing. How much am I going to invest? What am I going to invest in? How frequently am I going to invest? These are all questions you must be asking yourself and to know more
- Short-term options
For short-term option, I’d recommend investing something that is going to give you a greater return than your long-term options. To accomplish this, I’d recommend learning how to swing trade or even possibly day trade stocks. I’d stay away from cryptocurrencies as they are a relatively new thing without a proven track record. In other words, they can be very risky. I would not put my money in a CD or money market account for they just don’t pay the returns you want.
- Long-Term options
One of the best places that you can put your money for retirement is into a Roth IRA. This is because your money grows tax-free for years and years, compounding interest overtime and giving you a great sum of money when it comes to retirement. 401ks are okay as well because they are normally matched by your employer. The only bad part about these is that you are taxed when you take the money out. All in all, I’d recommend taking your finances and investing strategies into your own hands and to know more