Why Doesn’t Anyone Talk About Their Investments
The other day (every day really) I hopped on my Instagram & I started watching stories. Account after account after account just kept saying things like:
These are the best pants I’ve ever bought. You must go buy them.
I just got out of the shower & I am telling you, you have to buy this shampoo & conditioner.
Check out this new rug that I am obsessed with.
We’re staying at this nice hotel downtown. Best view ever.
After watching a bunch of these stories I started thinking, why doesn’t anyone boast or ever talk about where they are investing their money. Everybody talks about where they spend their money but not where they invest it. Imagine if people posted stuff like this:
I just upped my 401K withholding from 3% to 5%. You should too.
Finally opened up a Roth IRA & I’m putting $250 a month in it!
Just closed on a small rental property. Can’t wait to show you.
I know it’s small but I contributed $37 to my micro investing app last month.
Start Talking More About Investing
I think we would all benefit from being more open about investing. People talk about what they are familiar with. Here in the US we grow up constantly watching & participating in buying stuff & showing it off. It’s not often for someone’s birthday they boast about how their grandmother put $50 into their education fun. The truth is, at first investing seems boring & scary. No one cares that your mutual fund jumped 18% last year or at least that’s how it seems.
Even if people portray that they don’t care, it’s useful information. Wouldn’t it be helpful if everyone at work openly talked about their 401K? Just because HR helped set up your 401K doesn’t mean they picked the best investments for you. That’s for you to find out. Knowing which investments your co-workers chose & how those investments are doing can really be beneficial. Do you know how much the fees are for your 401K or IRA accounts? Talking about it will help you learn & make you more aware of your options. Selecting investments shouldn’t be an individual task it should be a collective effort. Getting multiple opinions is always good.
Who Should You Talk To About Investments
Simply put, you should talk to more people. Nearly everyone knows that you can easily call up a financial advisory & they will help you with investing. I think that everyone should do that but I do not think that takes the responsibility away from you knowing where & how your money is being invested. Next time you talk to your financial advisor you should immediately talk to someone else & share with them what you learned. Call your sister, your father, your friend & tell them all about the conversation you had with your financial advisor. This will help you retain what you learned plus it will help inform the other person. Also don’t just speak to one financial advisor. Talk to a few from different companies & ask them the same questions to ensure you’re getting consistently good advise.
When you learn something new about investing you should share that on your social media. It’s always good to hear different perspectives. I know that posting financial stuff online can be a bit taboo. As I have been posting online I have really enjoyed the comments & feedback from others. I have learned a lot. People have sent me texts, emails & private messages both thanking me for talking openly about finances but also asking me to share their questions or concerns.
1 Of My Investments
Let me share with you one of my investments. Tell me what you think about it. Give me your tips or critiques or experiences about this investment.
I purchased a commercial property for $115,000. My down payment was 25% or $28,750. It did not need any repairs & there was already a tenant occupying it. The tenant has been renting it for 7+ years, they pay on-time & say they want to stay forever. Really they have been ideal tenants thus far. They rent is $900 & my costs are $680 which includes principal, interest, taxes, insurance & HOA. The tenant pays all other utilities.
Do you think that is a good, mediocre, or bad investment? Feel free to comment or email me.
The numbers for that investment are real & factual. I strive to be as financially open as possible because I think that we can all learn from how we spend, save & invest our money.
Go out & have a conversation about investing with someone today.