These days, many of us are busier than ever before. Between careers, kids, social lives, and housework, there are plenty of things we would like to do but simply have no time for.
Investing in stocks is often one of these things. Many of us realize that investing in stocks can be a great way to increase our net worth, but it can seem like this requires a steep learning curve or will simply be too much of a time suck.
However, even the busiest person can invest in stocks. By putting aside just a few hours to get started, you’ll be able to automate much of the process. Here are a few tips to ensure you can get started with investing in stocks, no matter how busy you are:
Use a Robo Advisor
If you’re busy, one of the smartest things you can do is use a robo advisor. These can build stock portfolios for you, saving you the time it would take to examine each of these stocks individually and put together your own portfolio. If this is something that interests you, click here to try a free six month trial of Emperor Investments.
Consider target-date funds
Target date funds[i] can be another option for people who are time-poor. You’ll choose your funds based on when you’re planning to withdraw the money. As this date gets closer, your funds will become more conservative (automatically), making it less likely that you’ll lose your investment.
Talk to a financial planner
If you’re just getting started in investing, or you’d like to receive advice that’s personalized for you, a financial planner may be a good option. That’s because they’ll consider your own unique financial goals and situation and use them to make suggestions for your best investments. They’ll be responsible for rebalancing[ii] and managing all of your investments. They’ll also periodically check in with you and keep you updated on how your investments are going.
While you will need to pay a fee for these services, the structure of that fee varies depending on the financial advisor you choose. Emperor combines all of the above when creating your portfolio and charges less by automating some of the process. They take into consideration when you want to reach your financial goal and offer human support to address your concerns along the way. You can learn more and give them a try for free by clicking here.
Investing in stocks doesn’t need to be overwhelmingly complicated. By using the suggestions above, you can begin investing and take control of your financial future.
[i] Mutual Funds and Exchange Traded Funds (ETF’s) are sold by prospectus. Please consider the investment objectives, risks, charges, and expenses carefully before investing. The prospectus, which contains this and other information about the investment company, can be obtained from the Fund Company or your financial professional. Be sure to read the prospectus carefully before deciding whether to invest.
[ii] Rebalancing/Reallocating can entail transaction costs and tax consequences that should be considered when determining a rebalancing/reallocation strategy.