Consider investing in a Tax Incentive Savings Plan. Consider this type of investment as your opportunity to learn about something in a stress free environment.
Better yet, commit to a small monthly amount for this type of investment because you believe that your income will grow until you can pay taxes on it (your income).
This amount (the amount which is saved) can be increased over time...
If you are unable to commit to an increase in the payment over the next year. Then your small amount will have grown, because of the interest which was earned!
Alternatively if you are using the investment as a way to learn something new, then:
- Research the topic,
- Make a list of questions and
- Ask them before you invest.
- Take the questions and answers to a financial planner!
Even if you are not paying taxes at this time, you are developing skills and yourself!
copyright: Jennifer N Bailey