Today’s post is written by an awesome trading and investment coach, Tela Holcomb. Check out her bio at the end of the post!
Do you workout? Earlier this year, I started working out… again and it feels great getting into shape! I have more energy and I feel stronger. It also feels great to know working out has long-term health benefits.
Well, it’s just as important to keep your finance in shape. Part of being financially fit is learning how to invest for retirement. Today, I’m sharing with you four lessons the gym taught me about investing.
Lesson 1: Everyone Starts Somewhere
Honestly, when I started going to the gym I was afraid of looking stupid. I had no idea what I was doing. It was written all over my face (and my matching workout gear). I didn’t know how any of the machines worked so I started in the small women’s area hoping I wouldn’t be the worst one in the room!
It’s no different when you start investing in the stock market. In the beginning, you may not know what stock to pick or the best tools to use.
I sure didn’t when I started.
But, don’t let that stop you. Keep going. Keep learning. Every investor starts somewhere and if you’re willing to put in the work your knowledge and skills will grow.
Lesson 2: Everyone Has a Different Routine
Don’t feel like you have to do the same routine as someone else. Some people are lifting (my new thing by the way). Some are running. And some are doing yoga. If lifting is not for you, don’t lift. If running isn’t your thing, don’t run.
When it comes to the stock market, some people are trading, some are investing, and some are trading and investing. There is no right or wrong routine. You simply get started and along the way you figure out what works for you and stick to it.
Lesson 3: Sometimes you Need a Personal Trainer
The whole idea of getting into the gym can seem overwhelming so having the support of someone who is experienced can help ease your frustration. In the gym, a personal trainer can recommend a workout routine, meal plan and tools that support your goals. Learning how to invest in the stock market works the same way.
According to a survey by Bankrate.com, 21% of millennials feel they don’t know enough about investing to get started. If you’re trying to achieve certain results with your investments, it’s best to look for someone that has experience with investing and has achieved the results you are seeking. A mentor can recommend resources and tools to help you get started that support your investment goals.
Related: 3 Apps to Invest with $5 or Less
Lesson 4: It Takes Time to See Results
When you start a new workout plan, the pounds don’t just fall off when you think about going to the gym. Nope. Trust me. I tried. You actually have to put in the work and it takes time to see results.
When investing, you may not see significant results immediately but don’t let that scare you. Investing is about building wealth over time. If you implement what you learn and start contributing to your portfolio consistently, you will start to build wealth.
Not sure where to start on your journey to retirement? Start with these 4 Steps that millennials need to take to secure retirement!
Tela Holcomb is a trading and investment coach who is passionate about teaching people how to create a monthly income and build a financial legacy through trading and investing in the stock market. Learn more at TelaHolcomb.com and jump start your trading and investing with her free email course, Stocks and Profit.
Subscribe below to have posts regarding budgeting, saving, investing, and traveling for less delivered right to your inbox! No Spam!