Are you interested in investing, but not sure how to get started? Maybe you don't have the large lump sum that many institutions require to open an account, and you have a hard time putting money away each month. On the other hand, you may have a sizable amount in savings, but you are afraid to put it in the market all at once.
Start using a Periodic Investment Plan (PIP) to begin to build your portfolio. No initial minimum investment is required. Everybody has to start somewhere; why not start by automatically investing every month. With a PIP, funds will be automatically pulled from your account and invested in previously agreed upon funds. You'll enjoy the benefit of dollar cost averaging to minimize market risk on your initial investment and will develop the habit of saving first. Over time your account will grow, through contributions as well as investment growth, to help you achieve your goals.
In future posts, depending on your goals and the opportunities available, I will help educate you to choose the investments as well as the best type of account based on the purpose and time frame of your goals and your tax bracket.
Thanks for reading my first post and I hope you watch for more of my posts!
