On a casual Friday evening, a few work friends and I got together for a couple of beers, and with all other topics aside, a personal investment discussion kicked in. Who is doing what to build their personal net worth and try to secure the future for themselves and their loved ones?
As a recent immigrant to the USA, that was almost too much to absorb in those couple of hours. It sounded like most of them already had some form of investment, and the rest were already in the process of slowly catching up with their future financial needs or, for that matter, their high-level goals.
I recall this evening from roughly ten years ago. I am sitting there thinking that I have yet to start any investments outside of a minor percentage of my paycheck going to my 401k, a retirement savings plan sponsored by my employer, which my employer also contributes to, but nothing substantial.
Fast-forward a few years, and when I looked back to see what worked, most of it worked well to my surprise.
The only thing I had to do a few weeks into that discussion was to START. I faced my fair share of ups and downs, which any beginner would face, but I did not stop.
Start! What does that mean here? I met them one after the other for a casual coffee break or joined them for lunch, during which I requested they share their ideas, show me a few of their investments and associated returns, and, if possible, help me understand some of the risks, timeline, etc. Google’s search engine has become my best friend during this time when my daily readings are making my path more transparent.
Received some referral links to sign up for small periodic investments like robo-investing in low-cost indexes through platforms like Wealthfront and Betterment. I also got introduced to peer-to-peer lending through platforms like Prosper, a real estate investment trust with a very low-cost entry barrier through Fundrise, and a few other financial platforms like Robinhood and Acorns to start my journey with the little I had left after my bills and family expenses are taken care of.
Then things started changing from there, and it was definitely for good.
Looking back a few years, I see a journey of continuous learning and growth. I started putting money away every month into investments, regardless of the amount. It was about investing periodically, learning new things, and repeating. I even changed my job role within the organization, discovering new, more valuable skills for my employer, which led to a couple of promotions. The sense of accomplishment and growth was immense.
As my confidence grew, so did my portfolio. Diversifying my investments and gradually increasing my commitment to investments all worked for my good.
The journey continues. I plan to bring more details about the investments and platforms I leveraged.
This story should not be considered financial advice but is really repeatable. If you want to learn more about how to start this journey, I am more than happy to support you with no obligations. This is not my business; this is my hobby.
Stay tuned for my next set of details, where I will touch upon my rental real estate exposure journey, branching from what I discussed above.
I orginally published this article on Medium.
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