I’m (thankfully) in a condition where I have more money that I currently need. Now, all my basic needs are already fulfilled, got no debts, have an emergency funds, and enough savings. So then what am I gonna do with the money I got from my next paycheck other than paying monthly bills? I sure don’t want to spend it on unnecessary luxurious items that has higher price compared to it’s usefulness.
One thing came to mind: more investing
I’ve been hearing about investing for quite some years now but never seriously got into it because… well… I got no money. So I just put it aside for when I'm actually in a good situation (financial wise) in my life. Now that the time has come, I need to prepare for it.
A little flashback, I have a bad experience at investing back in 2017. I was dumb, naive, and easily influenced by my environment. So I jumped into it with no knowledge of how investing works or what mindset I had to have to be a successfull investor. Long story short, I lost around USD 3000. Not much to some but it was a huge amount of money for me at that moment.
I took the hit, learned the lesson, and move on. This time though, I’m gonna make sure to not do the same mistake. I’m going to learn how to invest from the ground up. Read books, watch videos, discuss with friends that has experiences in the stock market.
After a little bit of reading, I found out that there are quite some options on what to invest in. There are mutual funds, goverment bonds, stock market, and maybe some other things that I don’t even know yet. Each of those options has it’s own risk and profit potentials. Whichever one you choose is fine because people have different goals in mind when they invest. I’m not gonna talk a lot about this because I'm still learning about it. But the point is, whatever your goal is, whichever kind of investor you are, there is probably an invesment product out there that’s gonna meet your needs.
Lastly, before deciding to invest please make sure that you can actually take the risk. There’s no such thing as risk-free investment. Fulfill your basic needs first, secure your emergency funds, have some decent savings, only then you can consider to start investing.
Wish me luck, 2023.
