In recent months I’ve been reading numerous articles and listening to countless podcasts created by people who have achieved financial independence. If you’re unfamiliar with this term, here’s an explanation in a nutshell:
“Financial independence typically means having enough income to pay your living expenses for the rest of your life without having to work full time”
I don’t know about you but I love the idea of quitting the 9-5 and retiring early. I want to be able to spend my days doing whatever the hell I want without worrying about making more money.
There’s just one problem. As you could probably have guessed, financial independence doesn’t come easy.
The majority of people who achieve this incredible feat seem to have done so by investing their money in stocks, bonds, shares and property.
And with every article I’ve read and podcast I’ve listened to, I’ve found myself thinking the same thing over and over again:
“Shit. I’m a great position to start investing.”
After all…
- I don’t have any debts
- I’ve maxed out a number of high interest savings accounts
- I have a healthy emergency fund
- If I lost my job, I’d have enough money to keep me going for a long time – if living frugally
- I’m able to lock a sum of money away for a long period of time
- I can ‘afford’ to lose a bit of money – though I’d obviously rather not!
So what’s holding me back? Here are a few reasons I’m feeling reluctant to start investing…
The big boy’s club
For a long time, I guess I always associated the word ‘investing’ with rich white men in suits. I blame the movies.
Only in the last couple of years has it occurred to me just how important it is for people on more modest incomes (and women) to invest. And it’s only really been in the last 6 months or so that I’ve thought “Shit. I should be investing. I’m in a position to invest. These people are writing these articles and creating these podcasts for people like me.”
I don’t know where to start
I want to make educated investment choices so that I can grow my wealth with as little risk as possible but I don’t have the slightest idea where to start. Where do I put my money? Who will take my money and make it grow? How do I do it? And will the money I make from my investments be worth the hours and hours of research I put in.
I don’t know who to trust
I haven’t done *that* much specific research into the world of investing but I’ve read enough to confuse myself even more so than I was before. I’ve read a book here, an article there, and already I’m feeling incredibly conflicted.
I simply don’t know who to trust for advice and I’m reluctant to shell out hundreds of pounds for professional financial advice. Although perhaps that is the safest option to avoid devastating blunders.
I don’t feel smart enough
Oh, I’m such a typical woman. When I’m not putting myself down, apologising for existing, and feeling like an impostor, I’m telling myself I couldn’t possibly be smart enough to understand the world of investing. But do you know what? Deep down I know I can do this. It’s not my fault I’ve never received any formal financial education, but thousands of other people around the world have taught themselves how to invest and so can I!
In the coming months I’m hoping to do plenty of research into the investing world and so I’ll be sure to share my progress with you guys. Whether you’re thinking of investing your cash or you’re already kicking ass and building your personal wealth, I’d love to hear from you. Give me a shout in the comments below, say hello on Twitter or send me an email to jennisarahhill@gmail.com
