Set up your account and then when you have all of the routing numbers and account information you can easily go into your online banking system, set up an automatic bill pay transaction to fund your investment accounts once a month, once every two weeks, or even once a week.
The once the funds have been collected you can direct the funds in the investment account to purchase the desired investments.
Once the system has been set up you can easily duplicate it for another account.
Your goal should be to set up an IRA for you and your spouse, cash accounts for you, college fund accounts for your children and cash accounts for your family.
If you have these areas of your life covered you can start to build small investment companies to offset taxes and capital gains.
You should not only be looking at investment strategies, you need to have the best tax strategies to help you keep more of your acquired wealth and pay less taxes.
Once your account has been set up and you have successfully made the initial transaction to deposit the funds into your accounts you just need to make sure your main bill pay account has the funds to transfer into the account and that you make the adjustments in your monthly accounting practices.
You can always adjust the monthly payment amounts but I'd suggest a minimum of 10% of your gross income and as much as you can provided you can afford it.
The benefits of having both cash and retirement accounts are the access to you money and the tax benefits associated with retirement planning.
True success in anything is repetition, investing is no different you have to constantly fund your accounts to keep the purchasing power available.
Eventually you will reach a point where you can reallocate your investment dollars to other areas or accounts.
However in the beginning of you investment career you should start on the path and never ever look back.
Funny the old adage comes to mind that "money can't buy you happiness or love"; some other sayings are that "money isn't everything", "money is the root of all evil"; I'm sure there are others that point out greed, hatred, power hungry etc...
I disagree, only bad people do bad things and money is just a tool for the cause.
Good or evil, right or wrong it's the people behind the activity who have made the decision for the use of capital.
Automation makes it easy to set and forget then you make a routine of once a week to review your progress.
Once you have started the process of automation, just like your companies 401K or pension plan, your wealth acquires like clockwork.
Your investments grow whether you move them around or not.
Life happens all around each and everyone of us every second of everyday.
If you aren't prepared it will pass you by and leave you wondering what happened.
Automate your investment accounts for security and simplicity.
The once the funds have been collected you can direct the funds in the investment account to purchase the desired investments.
Once the system has been set up you can easily duplicate it for another account.
Your goal should be to set up an IRA for you and your spouse, cash accounts for you, college fund accounts for your children and cash accounts for your family.
If you have these areas of your life covered you can start to build small investment companies to offset taxes and capital gains.
You should not only be looking at investment strategies, you need to have the best tax strategies to help you keep more of your acquired wealth and pay less taxes.
Once your account has been set up and you have successfully made the initial transaction to deposit the funds into your accounts you just need to make sure your main bill pay account has the funds to transfer into the account and that you make the adjustments in your monthly accounting practices.
You can always adjust the monthly payment amounts but I'd suggest a minimum of 10% of your gross income and as much as you can provided you can afford it.
The benefits of having both cash and retirement accounts are the access to you money and the tax benefits associated with retirement planning.
True success in anything is repetition, investing is no different you have to constantly fund your accounts to keep the purchasing power available.
Eventually you will reach a point where you can reallocate your investment dollars to other areas or accounts.
However in the beginning of you investment career you should start on the path and never ever look back.
Funny the old adage comes to mind that "money can't buy you happiness or love"; some other sayings are that "money isn't everything", "money is the root of all evil"; I'm sure there are others that point out greed, hatred, power hungry etc...
I disagree, only bad people do bad things and money is just a tool for the cause.
Good or evil, right or wrong it's the people behind the activity who have made the decision for the use of capital.
Automation makes it easy to set and forget then you make a routine of once a week to review your progress.
Once you have started the process of automation, just like your companies 401K or pension plan, your wealth acquires like clockwork.
Your investments grow whether you move them around or not.
Life happens all around each and everyone of us every second of everyday.
If you aren't prepared it will pass you by and leave you wondering what happened.
Automate your investment accounts for security and simplicity.