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Advice & Answers from the Graphium Health Team 19

by  |  June 29 2020 3 min read

That is the super concise investing definition that comes courtesy of Merriam-Webster. Regardless of where you invest your money, you’re essentially giving your money to a company, government, or other entity in the hope they provide you with more money in the future. People generally invest money with a specific goal in mind, for example, retirement, their children’s education, a house — the list goes on.

Investing is different from saving or trading. Generally investing is associated with putting money away for a long period of time rather than trading stocks on a more regular basis. Investing is riskier than saving money. Savings are sometimes guaranteed but investments are not. If you were to keep your money under the mattress and not invest — you’d never have more money than what you’ve put away yourself.

 

Advice & Answers from the Graphium Health Team.

First things first. Before you start investing in anything, you should ask yourself a couple important questions. These questions determine whether you’re in good enough financial shape to start investing right now — here are the basics:

First things first. Before you start investing in anything, you should ask yourself a couple important questions. These questions determine whether you’re in good enough financial shape to start investing right now — here are the basics:

1. Do you have a lot of credit card debt?

If the answer is yes, you’re probably not in a position to invest quite yet. First, do everything you can do to erase that debt, because no investment you’ll find will consistently outperform the 14% or so APR that you’re likely forking over to a credit card company to service your debt. Here’s a good place to start plotting your debt’s annihilation.

2. Do you have an emergency fund?

In polite terms, poop happens. Layoffs, natural disasters, sicknesses — let us count the ways in which your life can be turned upside down. Any financial advisor will tell you that in order to avoid total ruin you should have between six months and a year of total living expenses in cash, or in a savings account should the unthinkable happen. If you don’t, bookmark this article, start saving, and come back just as soon as you’ve got that emergency fund squared away.

 

Which Stock Trading Site is Best for Beginners?

First things first. Before you start investing in anything, you should ask yourself a couple important questions. These questions determine whether you’re in good enough financial shape to start investing right now — here are the basics.

 

In polite terms, poop happens. Layoffs, natural disasters, sicknesses — let us count the ways in which your life can be turned upside down. Any financial advisor will tell you that in order to avoid total ruin you should have between six months and a year of total living expenses in cash, or in a savings account should the unthinkable happen. If you don’t, bookmark this article, start saving, and come back just as soon as you’ve got that emergency fund squared away.

If you don’t, bookmark this article, start saving, and come back just as soon as you’ve got that emergency fund squared away. In polite terms, poop happens. Layoffs, natural disasters, sicknesses — let us count the ways in which your life can be turned upside down. Any financial advisor will tell you that in order to avoid total ruin you should have between six months and a year of total living expenses in cash, or in a savings account should the unthinkable happen. If you don’t, bookmark this article, start saving, and come back just as soon as you’ve got that emergency fund squared away.