Bias for action. Gets things done. Go-getter. Traits companies big and small look for. And for good reason, you're being hired to do things! However, action is a secondary step that often overshadows the primary step, direction. Clear direction is the foundation that enables our actions to takeoff. Without it, we're stuck in the mud. Striving for clarity is an underrated skill. Having the courage to ask ( seemingly ) obvious questions, and to check in, making sure we're all on the same page. "O bvious " questions are a low risk, high reward way to add value. At worst, you'll add confidence to our actions. At best, you discover a misalignment that saves us from a dead-end. The more people, the more clear we need to be. The bigger the initiative, the bigger the risk of reaching the finish line, only to realize expectations were off. Success is always uncertain. But we can be certain about what we want and what everyone's job is. Things that can be clea
Investing is great. With the right approach, it enables you to grow your money with little to no effort, setting you up for a rich future (pun intended). I love it so much I made a whole blog about it.
Before you start shoving money into the stock market, take a step back to assess your finances. Thinking about the future is smart but it should take a backseat to the present. Investing should start on good financial footing. Meaning two things, you've paid off any high-interest debt and have built a solid emergency fund.
Paying Off High-Interest Debt
That means credit cards and payday loans, the bad debt. The wealth destroyers that drags down your financial life. Interest so high, making it easy for things to spiral out of control.Credit cards typically charge between 15%-20%, and payday loans are even worst, with rates in the neighbourhood of 700%.
The average return from the stock market is between 7%-10%, meaning your money is much better spent paying down these debts. More bang for your buck.
Building You Emergency Fund
Life is filled with surprises. Out of nowhere you could lose your ability to make a living. Being laid off or getting into a serious accident (knock on wood). To help you weather the storm, you'll want a safety cushion. It's recommended to have 3-6 months worth of expenses saved up.Keep this money in a savings account. Avoid the temptation of investing it. When markets are rising, it's tempting to jump in, when markets are down, it's tempting to buy cheap. Stocks are too volatile. Don't risk your emergency fund being sliced in half when you really need it.
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