The Money Muse

Starting to invest can be incredibly intimidating, especially for beginners. Even though I began relatively early, I wish I had started sooner. By the time I finally took the plunge into investing, I had amassed $30K in savings – far more than I needed in my emergency fund. If I had put some of that money to work earlier, I’d be even further along in my financial journey now. But despite my initial fears, I’m just grateful that I began at all.

Here’s a look at how I overcame my anxiety about investing and what I learned along the way:

• Reading and learning. My journey began with personal finance books like The Bogleheads’ Guide to Investing. While it was probably a bit advanced for me as a complete novice to the world of personal finance, it was the first step that gave me the push I needed to get started. This book opened my eyes to the basics of investing and the importance of starting early. Understanding these concepts is crucial for anyone looking to start investing, especially young women interested in personal finance.
• Learning by doing. After taking that initial step, I opened a Roth IRA and then a brokerage account. I learned how to buy stocks, set up automatic deposits, and make regular investments. This initial phase was the most intimidating. I was terrified of messing up, but I’m so glad I took the leap. In hindsight, starting early in my career with a modest salary of $32K meant I began small by default. The stakes weren’t high, but beginning in my early 20s has allowed my investments ample time to grow and compound over time.
• Gaining confidence and amassing knowledge. As time passed, I gained more confidence in my investing abilities. I continued to educate myself by reading more personal finance books like The Simple Path to Wealth and The Millionaire Next Door. I’m always on the lookout for new information to stay informed about investing strategies and find what works best for me. Continual learning is essential for anyone looking to achieve financial freedom and grow their wealth over time.

The best decision I’ve made in my personal finance journey was getting started – and getting started early. This process has been incredibly rewarding, and I’m excited to see all the milestones to come. If you’re nervous about investing, remember that everyone starts somewhere. The key is to take that first step, educate yourself, and start small. Over time, you’ll gain confidence and see your investments grow. Don’t let fear hold you back – your future self will thank you for taking the plunge. Happy investing!

Feel free to share your thoughts and experiences in the comments. What was your first step in investing, and how has your journey been so far? Let’s support each other on this path to financial growth and freedom.