079 - The Money Hotline | How Much Should I Be Investing?
In this episode of the Mind Money Soul podcast, I’m going to be answering the common question of “how much should I be investing?”
Technically this is a trick question, because when the word ‘should’ is involved it requires us to look closer. When it comes to investing, there is no right or wrong way and it’s going to look different for everyone. Personal finance is exactly that, it’s personal.
There are 3 main things to consider when it comes to investing, including affordability, your long term plans and how to increase your investment pot. The short answer is - it’s not a case of how much ‘should’ you invest, it’s really about how much you would ‘like’ to invest. What is your why behind investing? What is driving you towards investing? What is your big happy goal? Sitting with these questions and reverse engineering your goals will be a huge support on your investing journey.
In this episode:
How to calculate how much you can afford to invest
How to be realistic and minimise risk when you invest
Why long term goals will drive your investment choices
How to make the most of compound interest
How to bring in more money to invest
How to get your money to work for you
Resources
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