Sallie Kracheck, a co-founder of Ellevest and a former Wall Street executive gave a statement about investment.
According to Sallie, as cited on CNBC.com, the worst financial advice that he had ever heard was delaying investment. She suggested that don’t wait to invest in your future, it will be better if you start your own investment now.
Here are some of Sallie’s suggestions to manage your financial:
Investment of 10 percent
First of all, you have to invest at least 10 percent of the salary you get. If you cannot invest 10 percent per month, start at 1 percent. Keep doing it until it gradually reaches 10 percent.
The other easiest way is to deposit a few percents of your salary automatically for investment.
30 Percent for what you want
It’s okay if you spend 30 percent on what you want. For example, you can have fun like having dinner with friends or seeing a show. We only live once, so you have to make yourself happy.
50 percent for basic needs
Sallie also understands that people will spend 50 percent for other needs such as rent and household needs.
However, failing to invest in any amount, it is like letting money fall from your wallet every day.
According to her, the mindset of people does not care about investments formed in childhood. Most Girls are taught to save, while boys are taught to invest. In fact, if the mindset of women is also the same as men, Sallie believes financial skills are the key to gender equality.
Ignore Market Fluctuations
However, if you have started investing, don’t be obsessed with market fluctuations. Market fluctuations are normal. If your investment varies and you let it grow over time, your portfolio will recover from ordinary market changes.
Anyone who has just started an investment should never monitor market fluctuations. It will make you easier to worry when the market decreases, and sell it when the market rises. This is what makes your investment portfolio not good.
