The term ‘investment’ often leaves people feeling uneasy, unsure about what they should do with their money. Whether you want to buy a new vehicle, a home, a plot of land or even save for your child’s education, it’s normal to feel overwhelmed when thinking about these large future goals. For the majority of the population, acquiring these requires you to be smart with your money and start saving at a young age.
Perhaps you think that it’s too late in your life to save up enough for the things you want in your future or that you don’t have enough money to start investing properly. Most people think that their lack of savings means that they can’t invest until they have some money saved up. However, what they don’t realize is that investing doesn’t have to start ‘eventually’ or ‘someday;’ it can start today! There are so many investment myths floating around that you’re probably not quite sure what to believe. Well, look no further Calgary. ATB Prosper, ATB Financial’s digital investment experience, is here to help bust those myths and steer you in the right direction for a long and happy, debt-free life with a few simple steps.
Myth #1: Investing requires a lot of money.
False! When it comes to investing, a little goes a long way. You can start with a $100 initial investment and contribute as little as $25, whether that be weekly, monthly or yearly. Whether you start small or deposit a larger sum, you will still see tremendous growth over the long-term due to the building of compound interest and other factors affecting your investment.
Myth #2: Investing is something to do later in life when your income is bigger.
False! Investing is something that can be done at any age and with any income. In fact, the earlier you invest, the better! The longer you allow interest to build and grow, the more money you’ll earn. Eyeing an early retirement? The sooner you invest, the sooner your money will begin to compound and the more likely that this will become a reality for you.
Myth #3: Investing is for people who take risks.
False! Of course, investing can be risky, but it’s also possible to play it safe. By simply asking a short series of questions, ATB Prosper can recommend the best portfolio that’s right for you based on your level of risk, your goals and your preferred timeline.
Myth #4: Investing is meant for the short-term.
False! Typically, investing is a great strategy for achieving long-term savings for events like retirement, purchasing a home, going on your dream vacation or starting an RESP for your child’s future education.
Myth #5: You don’t need to be a financial expert to invest well.
This is actually true! While some financial literacy is vital, you don’t have to be a full-on expert to get started. Visit ATBProsper.com and after answering a handful of questions, a portfolio will be recommended to you – all within five minutes, geared towards your own goals, comfort level for risk and financial situation. Plus, if you have any questions, a team of financial advisors are always available to answer you via phone, email or online chat.
Well Calgary, now that you know all the facts, who’s ready to start investing?! You don’t have to be rich; you don’t need to be young; you don’t have to be a risk-taker; you just need to start! Big or small, dip into your savings account or take a portion of your next paycheque and put it into an investment account – your future self will thank you. ATB has countless options for you to invest your money wisely, and if ATB Prosper isn’t right for you, their financial advisors will listen to your goals and provide the right advice. In fact, ATB is giving away $200 for one lucky individual to invest in their very own account. Spot the ATB contest on our Instagram Feed with more details on how you can win:
- Must be 18 years old
- Not employed by ATB
- 4 entries per account
- Lives in AB
- Tag a friend in the comments.
Kelsey is the Editorial & Events Manager for Date Night. Monday-Friday she works as an independent Marketing & Communications Contractor, providing writing, editing and digital marketing services for small businesses here in YYC. When she’s not busy writing about our city, you can usually find her trying the newest fitness studio, exploring the Rockies or chasing the sun – whether here in AB or halfway across the world.