I have been listening to Suze Orman's podcast, Women and Money, for the past few days. I have been a huge fan of hers for many years. Her advice has helped and protected me since I first saw her on Oprah Winfrey's show. I love how she connects our emotions to our financial lives. I know from teaching yoga that these are both second chakra issues. Her advice always makes so much sense to me. The subject I listened to today was on trusting yourself. Boy, can that save you a lot of heartache and drama.
I decided today that I am going to take part of the refund that I will receive from the tax credit that I get for my health insurance to open an investment account. Here I am, fifty-four years old, and I am finally getting my feet wet in the stock market! I also have a pension with Actors Equity, but I didn't make any of those decisions. I have been a passive participant. I will be eligible for it in about ten years. I'm sure the time will fly.
My plan is to invest $100.00 a month. My father suggested that I start with $1,000.00 and just invest once a year. That way I will avoid fees and charges. I will do $1,200.00 this year, and increase it to $2,000.00 next year. It's a start.
Suze suggested TD Ameritrade on her show. I plan to buy Exchange Traded Funds, which is what she recommends. She also likes Vanguard. She mentioned Standard and Poor's Index Fund through them. I read the information from my notes off to my father on the phone, and he thought that both choices were excellent. He told me right off the top of his head how much the return would have been over the past two years. It was significant, even for that amount of money.
So, I'm finally doing it. It's never too late to begin. I feel like this is a move in the right direction. Are you an investor?
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