GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you could read more about oureditorial guidelinesand our products and servicesreview methodology.
after you grab that foundation, shift your focus to the long term.
Even small, early investments can grow substantially over time thanks to compound interest.
The earlier you start, Winget said, the more time your money has to grow.
Making the right choices now can make a massive difference in the long run.
She recommends looking into real estate, private equity and even precious metals for added diversification.
If you diversify early, youll be better positioned to weather financial storms, Winget said.
You may also wish to obtain alife insurance policyto provide an additional financial cushion for your heirs.
This doesnt mean depriving yourself but rather making intentional choices about spending.
So its important to adapt your financial plan as you experience different life changes.
Practice Patience and Discipline
Managing your finances is a long-term commitment.
Avoid the temptation to panic-sell during downturns or chase quick gains during booms.
Consistent investing, combined with a disciplined approach, will pay off in the long run, she said.
More From GOBankingRates
Share This Article:
