Myths and assumptions can be detrimental to your success in all areas of life – including achieving your financial goals. When it comes to investing, it's vital to separate fact from fiction. Here are four common myths you'll want to erase right from the start.
Myth 1: Investing is only for the rich
We believe that no matter where you are today, if you want to build a better financial future, then you need to invest. Whatever your age, salary or family size, we believe everyone can benefit from a comprehensive investing strategy.
Edward Jones welcomes all clients – we don’t require minimum investing amounts. We also provide sophisticated investing strategies for individuals with complex needs.
Myth 2: Saving is investing
If you’re putting money aside in a low, fixed interest rate savings account, this isn’t investing. This can offer a cushion for emergencies and unexpected spending needs, but it’s only one piece of a financial strategy.
Investing is using your money to potentially create more money over a period of time.
Some people may shy away from investing, thinking it's too risky. Although investing does come with risks, not investing can also be a risk to your financial future. If your money doesn't grow, you may face the risk of not achieving your long-term goals – like sending a child to college or university or retiring from your job.
Investing takes some homework. That’s why many investors seek professional guidance.
Myth 3: You should buy and sell often
Being patient can be difficult. But trust us on this: Jumping on the bandwagon of the latest investment fad and selling every time the market drops probably won’t get you to your goals.
We believe in quality investments, not fads. We believe a financial strategy should be created for market ups and downs. And when the markets are volatile, Edward Jones can help you put these events into perspective.
Myth 4: You're too young or too old
The sooner, the better – but it's never too late. Obviously, starting early is a good idea, because your money has more time to grow. But it’s really never too late to start investing.
Call us today
Find an Edward Jones financial advisor to help you start working toward your goals today. He or she can help you separate myths from reality, identify appropriate opportunities and develop strategies that are right for you.