How to Get Started Investing & Building Wealth on Any Budget

Getting started investing and building wealthy any budget can be done! Let me tell you an investing story that makes the hairs on my arms stand up. I had been great at investing in a 401K from age 24 to 34. It was my ex-husband’s 401K, but he was the one with the great company match (aka free money). That account grew to $150,000. But then we got divorced and that account vaporized. Get this though, if we had kept that account, and contributed just $15,000 each year over the last 10 years, earning 10% on average that account would be worth close to $800,000 now. Heartbreaking, but the moral of the story is that investing works, but it isn’t always sexy.

That sentiment is echoed by our guest, Tori Dunlap, author of Financial Feminist, host of the Financial Feminist podcast, and creator of Her First 100K. Tori believes that If you’re scared of the stock market and the fluctuations, the answer is to be patient and view investing as a long-term practice and you will be rewarded. As Tori says, for every 20-year time period that you have invested in the stock market your chances of seeing a return on your investment is 100%. Those are pretty good odds. In this episode, we talk about how to manage fear when it comes to investing, ways to develop an investing mindset, and how to get started investing and building wealth on any budget. We’re going jargon free on this episode, so join Tori and me as we guide you away from fear toward your goal of investing this year.

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DISCLAIMER: This podcast and money content are for educational purposes only. Always consult with your financial advisors prior to making money decisions. Please do your own research to figure out whether a financial product, tip, or suggestion will work for your money goals. You can find a Certified Financial Planner in your area here.