How to Start Saving for your Future

Where do I start?                       

I want to invest $$$ for my family’s future

Most new parents have big dreams for their young families, vowing to save for their kids’ futures. Some have no idea where to start.

 

Should I plunge into the stock market head first?        

It’s not a good idea for beginners to jump blindly into investing. Do some research first. Follow the business news, watch business channels on TV or read investing books. Google phrases like good companies or investments with potential. Keep an eye out for industries that are growing, gaining customers or making money.

Consider investing in organizations that seem to be on the cutting-edge of something new. If an innovative idea sounds profitable to you, ask for a second opinion from a successful investor. Before diving in, though, double-check your instincts and arm-chair advice with a reputable financial advisor.

 

Are ‘blue chip’ stocks the best to buy?

While blue chip stocks, or shares in giant companies with solid reputations like Visa, Wal-Mart, or Walt Disney, have some advantages, they can also be pricey for first-time investors. Financially fit corporations that pay dependable earnings and good dividends are often expensive stocks to buy.

If $200 or more per share of Apple or McDonald’s sounds too big for your budget, you can find other promising companies. Look for growth potential in products or services provided by up-and-comers. Shares in good, but lesser-known companies, are often available for $20 a piece or less.

 

Start by investing small amounts monthly

Another way to edge into investing is to buy mutual funds, or clusters of various companies. That’s the way a lot of young people start. Mutual funds are made up of shares in dozens of different companies. Their stock can be bought on the installment plan. Shares can be purchased for as little as $25 or $50    per month, affordable for anyone willing to set aside small amounts of their income to invest.

 

If you’d like to own stock in a rock star like Amazon.com (currently selling at over $1,800 a share), you could get in on a small piece of its profits by investing in a mutual fund that includes Amazon in its many holdings. There are thousands of different mutual funds for sale on the stock market, so you’re sure to find at least one that includes your favorites or a few of today’s best investment bets. For more information on investing in mutual funds, contact Ron Van Surksum, certified financial planner, Advanced Asset Management LLC. Email rvansurksum@aamllc.com or call 616-450-8439 or 616-531-5220.

Manage Your Money . . . financial facts for a brighter future provided by Advancd Asset Management LLC                           Follow our blog: aamllc.com                  Ronald Van Surksum, CFP                     4555 Wilson Ave SW – Suite 2               Grandville, MI 49418                                             rvansurksum@aamllc.com                 Phone: (616) 531-5220                            Cell: (616) 450-8439

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