Well, everyone is always ready to start investing. Right?

With the buzz about making investments these days, people feel to start investing is the correct step. However, it is essential to realize that one can only start investing with a full-proof plan and some strategy to make it succeed. It is tempting to get into the process but it will not reap the desired results if the strategy is not fine. Furthermore, while you can miss in ways if there is a delay in investing, you need to ensure there are several financial ducks in the row to be put forward. 

Whether retiring comfortably is on your to-do list or building wealth, planning and investing are the way to develop a robust financial foundation. 

While some people get to know when they are right on the path, some just don’t.

The signs

These are no “magical” signs but if you already are practicing them or can nod a yes to at least 4 of them, you are geared up to start the investment journey. 

The first sign is knowing the basics 

So, when someone talks about bonds and Mutual funds, you are not clueless. If not Warren Buffett you at least get the idea about what assets can be beneficial. Building a diversified portfolio and learning about information related to specific investments is something that excites you. While there is a lot of leg work that needs to be done before investing in research, your concepts such as investment objectives or risk tolerance do not seem alien to you. 

Debt is not taking control over your life

With the dream of achieving your financial goals, comes the nightmare of debt and the vicious cycle. Debt payments deplete the cash flow that could otherwise be used for savings and investment. Moreover, debts worsen the situation with shockingly high-interest rates. The drag that one has to bear with debt pulls you away from the meaningful money that could go into an investment program.

The emergency fund is your best friend 

The days when you talked about the emergency fund are replaced with the actual family fund that you have. You are prepared for life throwing financial throw balls at you. Once you have an emergency fund with a huge sum of money and you are continuing to add more, right there is your cue to start investing. When you have a substantial amount of cash dedicated to emergencies the next step is to start dedicating money to your dream investment portfolio.

The final nail is the extra money

While this all suggests that you are prepared to start investing, if you do not have money consistently left over from your paycheck after the expenses, you cannot start investing. 

And if you can save money after regular and non-recurring expenses, voila! You are ready to start building wealth, making plans for a comfy retirement, or making financial dreams successful. 

Get going! 

Being aware of the factors when you are prepared to invest is a happy feeling!  

I hope that you were able to check off most of the factors above and start getting your money invested in assets to build wealth. 

Bon Voyage! 

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