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Investing can be the key to retirement, to protecting your money against inflation and to building generational wealth. When it comes to passing money down to the next generation, Black families are in last place of all racial groups, says NPR. Learning to invest properly and build something for the next generation is one way to close that gap.
Today, with so many options and advancements in technology, investing has become far more complex than it was in the days when your grandmother kept paper bonds under her mattress. Knowing that your money could go to work for you and that your dollars could grow without you doing anything is empowering and exciting. But, knowing that sometimes your money could go down could have you biting your nails. Fear of investing is real and it keeps a lot of individuals from doing anything with their money other than letting it sit in a checking account.
If you know it’s time to make some money moves but you worry the emotional turmoil of the market highs and lows will be a lot, it’s time to take a zen approach to investing. The good news is that, if you’ve already been nurturing a zen mindset in the other areas of your life, doing so with your money should come naturally. Here’s how to start.
Find A Financial Advisor You’d Give Your Firstborn To
If you can find a financial advisor that you fully trust to make the best decisions with your money, then that will be a big step towards zen investing. Maybe you don’t know how to assess and navigate the markets. That’s okay – you do what you do and let your financial advisor do what they do.
So how do you find a great financial advisor? You could first look to the people in your lives who’ve done well for themselves and ask them for recommendations. The longer your friend or family member has had a good-standing relationship with their advisor, the better. Remember that it takes some years (often at least three) for a financial advisor to show what they’re capable of. But there’s more to finding a trusted advisor.