The ticr way is our guide to help our customers achieve financial wellness, utilizing smarter budgeting and saving, a diversified strategy to investing, and planning your long-term financial goals.
Spend less than you earn
Build the habit of spending less than you make. For example, if you make $5,000 a month, plan out your expenses to spend at most 80% of your income every month.
Build the habit of saving at least 20% of your income every month. This strategy enables you to save up money on the side to invest or use during an emergency.
Invest on regular basis
Make a habit of investing regularly in your portfolio. It builds good financial habits and allows you to gain momentum with your investing.
Diversify your investments
To mitigate the risk of your investments, diversify your portfolio between different stocks from different industries. For example, you can break down your portfolio into tech, travel, healthcare, auto, and energy. It is unlikely that all the sectors in the economy fall at the same time.
Don't freak out when your portfolio drops. Always look at the long-term potential. Always remember the S&P rose by 7,670% since 1980. Making this quantifiable - a $10,000 investment would have turned into over $800,000 in 2020.