Investing In My Future

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School

University of Phoenix *

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315

Subject

Finance

Date

Jan 9, 2024

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doc

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Uploaded by JusticeTitaniumButterfly28

Investing in My Future By Ymontiara Corrin Jones FIN100: Principles of Finance Professor CC Anthony June 12, 2022

Summary New financial goals for the future upon what I learned from this course would be to give my money a job. Creating that plan on how I need to spend money would be a more frequent achievement throughout the year. Take care of your monthly bills and have that separate flow of money for your future by using them for future investments outside your traditional 401K retirement plans. Yes, I want to become more liquid to start my own business. A liquid investment converted into cash without any impact on its value; the goal would be to create another stream of income to then turn around and invest in my entire plan apart from my financial future. This course has increased my knowledge and added to the minimal knowledge I attained before taking this class. 2

Investing in My Future: Investing in your future is a great way to start your journey to financial freedom. By taking this course, I was about to understand more in-depth how it is essential to understand finance. By being financially free and having enough savings, investments, and cash on hand, you can be stress-free without checking on bills to make sure you can make the due date. I want to view my financial lifestyle as a very diverse portfolio. Taking this course has sharpened my financial literacy tremendously, and below I am going to inform you in what ways. Three (3) Ways I will Invest in My Future There are many ways I can invest in my future, and the main thing I am doing to contribute to this goal would be to go to and complete my degree. Investing in my education and gaining knowledge about several topics will make me more eye-appealing to my competitors and will benefit my overall gross income. Starting a retirement fund by investing in my 401K with my job, not only is it beneficial because you are setting aside money for your exit plan, but many companies match dollar for dollar if you invest a specific amount. Setting your financial goals for the future will help you measure your success by achieving them. Goals do not have to be years out it can be things like saving a vacation or something long-term like paying off student loans. Lastly, I would like to save for a rainy day. Unexpected expenses like a car repair or replacing a cracked phone screen that I would be able to do so with no problems. My Confidence Concerning Investing in My Future Since taking this financial course, I feel more confident in investing in my 401K plan. I enrolled in my 401k before taking this course, and I feel more confident investing 3

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more every year, nothing huge, just like one or two percent annually. As stated in another assignment, I want to get into investing in cryptocurrency and understand that type of investment in the future. Another takeaway from this financial course is that I have to separate the idea of losing it all when investing and taking a risk. Make saving automatic by putting a percentage of each paycheck into an investment account or my savings until I see how I would support that money. Taking action to stay on track can become overwhelming, but having confidence in the way I move in my investments will be the start of my future investing. Diversifying my portfolio is another way to increase my confidence and help control risk. Lastly, thinking long term, you cannot be a successful investor overnight. Being disciplined while investing isn't always a straightforward approach but making the right choices along the way will be worth the wait. Challenges With Investing in My Future Things will never go perfect while investing. If it were, there would be more people than average who would invest outside their regular 401k plans. Some challenges I may face in the future to overcome while investing would be company risk, volatility and market risk, and opportunity cost. Poor operational performance can cause a company's value to drop in the market. Looking in a company that supports their team and listens to them, they are willing to go over and beyond on the day-to-day operations. Stock prices are determined by supply and demand, and no matter how well a company performs, its stock is still subject to volatility and market risk. Lastly, opportunity risk would be another hurdle I believe I would have to face. If you do not put yourself in a position to achieve responsible investment growth, then you will have a higher risk of 4

leaving money on the table. Creating a diverse portfolio with investments and saving for retirement 401K need to ensure that you know your risk tolerance along the way. Conclusion In conclusion, investments are not a sure thing. Upon taking this course, I learned about the risk and how to use week ten stock assignments; I realized how much stock could increase and decrease throughout the day. Creating goals along your financial journey will give you confidence once you achieve them. The knowledge is there between taking individual investment classes or seeking your degree. 5