On Dec. 19, BetterInvesting CEO Kamie Zaracki confessed to a money secret: She maxxed out four credit cards when she first graduated from college. But at new Financial Literacy campaign, you can learn how Kamie has since become one savvy money manager.
“I’ve always been a saver,” she says. “And the credit card lesson was invaluable. But I didn’t really learn about stock investing until I was much older and had made some mistakes. Fortunately I now belong to an investment club and apply the knowledge gained at club meetings to my personal investment portfolio.
“I’m a big believer in paying yourself first by saving a bit of every paycheck, bonus or $20 bill that comes with the birthday card. Even setting aside part of every allowance and watching it grow over time adds up.”
In the Financial Literacy campaign from Mediaplanet, industry leaders come together to deliver financial knowledge and advice to highlight tools and institutions you can use to maximize your income and make investment plans for a healthy financial future. The campaign was distributed via a print insert through the San Francisco Chronicle.
Here’s another insider’s peek at money, revealed by BetterInvesting’s director of communications, Adam Ritt. Adam explains how with the miracle of compounding, a modest nest egg may become $1 million.
“Starting with $1,000 and investing $200 a month, and assuming an 8 percent annual return, you’ll have in the neighborhood of $1 million over 45 years …
“To achieve an 8 percent return, you’ll likely have to rely mainly on common stocks.”
That part is no secret. Here’s where we hit the more clandestine stuff.
“What is the true secret of following these principles? Fortitude. To be successful you need to invest regularly no matter what the market is doing. Buying when the market is going up is easy. Buying when prices are down and Wall Street pundits are telling you to bail, when friends and colleagues are getting out of the market, is difficult.
“But bear markets are your best opportunities.”
So the real tip here? Stand fast and ignore the tipsters.
And be sure to check out Financial Literacy for more real-world money advice you can put to good use.
BetterInvesting is a national nonprofit organization that has been empowering individual investors since 1951. Founded in Detroit, the association (formerly known as National Association of Investors Corporation) was borne out of the conviction that anyone can become a successful long-term investor by following commonsense investing practices. BetterInvesting has helped more than 5 million people become better, more informed investors by providing webinars, in-person events, easy-to-use online tools for analyzing stocks and mutual funds, a monthly magazine and a community of volunteers and like-minded investors. For more information about BetterInvesting , visit its website at www.betterinvesting.org or call toll free (877) 275-6242.