Day 2 of BiG’s 30 Day Bucket List Investing Challenge
Where the bloody hell are you?
Assessing your finances
How much money is enough for you? Do you want to start using your money better, maybe start investing? To start investing, some experts say you can start with anything from $500.
Thinking about these things will help you take some first steps:
- How much money have you got to invest?
- If none, can you get money from other sources (eg investing with others, joint ventures – but beware, these have risks)?
- What regular contributions, if you needed, can you afford?
- Do you need budgeting or other financial management help?
Check out some blueprints, articles and checklists that expand on some of these questions and more in Wealth Creation Strategies and Topics and Gurus.
Here are just a few:
- Develop an investing plan and Investing between the flags(ASIC) 6 Steps, plus lots of other useful money and investing stuff at MoneySmart
- Investing – growing wealth for the future BT Financial Group
- How to invest Money Morning
- Free online courses such as: Future Learn – Managing my investments
Explore the hundreds of resources and lists of industry players giving away FREE reports BiG’s Directory, Analysts and Commentators and the Gurus.
Warning – planning takes a bit of effort.
Call me cynical but – overwhelm, instant gratification, 24/7 news cycles, and life itself, will all probably conspire against you.
It’s possible you won’t get around to using any, or many, of the above resources.
True confession – I’m guilty. But keep at it, the best you can.
Chances are too, that even at this early Challenge Day 2, you’ll put things off and “do it later” – gunna.
You’re not alone. Heaps of research, data, psychological studies and more, show how common procrastinating is when it comes to changing your habits in life, money and investing.
Don’t let procrastination, whatever your reason, capture you:
- If you’re having trouble starting your journey towards something.
Dr Cross can help with his “Life is a Zig Zag” video in a previous post Change, cheese and moving it – have a lot to do with investing. Who knew? - Feeling overwhelmed? I hope his 3 Steps to successful investing – questions and decisions made simple helps.
But, in case you do put off planning…
Dare to dream about a bucket list
Why not start dreaming and creating your very own Bucket List?
If all the planning’s too much for you, you’ve already done it, or you’re happy to plunge into investing (going with what you know already or with gut feel or intuition) – here’s something fun to do, make your bucket list.
- In 10 Things you must do before you die! How to get started on your Bucket List – I’ve got some ideas for you.
- Mark Bouris’s Bucket List for Responsible Adults is a lot more practical, a bit more serious.
[here’s] another kind of bucket list – the things you need to take care of before you die.
We avoid talking about them yet they are the things you can do to make life better for a whole bunch of people, including your spouse, kids, employees and yourself:
A Will, Power of Attorney, Superannuation death benefit and a Vault…Mark Bouris
Day 2 Your Task/s:
- Do as much reading and planning that you can cope with
I look forward to seeing you at Day 3 – “The Lazy Investor’s Way to Set Goals”
I’d be delighted if you find my work helpful and share it and BiG with friends and family.
All the very best with your life and investing.
Andrea
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