My first two jobs out of college didn’t provide any type of retirement package or benefit. Which means, I never took it upon myself to setup a retirement account to start saving for the distant future. My young and naive self just never dialed into the urgency of starting early on with that stuff. With time and maturity, I had a series of conversations I learned that Vanguard had some of the better performing investment options, and that I could create an account all on my own. I didn’t need to pay someone or have such accounts created for me through a work benefit.
How do I get started with Vanguard on my own?
To get started with Vanguard and buy into any of their accounts takes anywhere between $1,000 – $3,000 depending on what you’re looking to invest into. While you can still open an account with Vanguard, you’ll just have hold your money in a basic money market account until you have enough to buy into some of their investment funds.
Because they know you’re a personal investor, making decisions on your own, they have a ton of resources available to help you pick the right accounts for your investment goals. If you’re young and have time to survive the ebb and flow of the market, then they’ve got suggestions for you. If you’re getting close to retirement and need more secure investment options – they’ve got suggestions for that too. Your biggest focus, or dare I say, “worry”, should be just getting getting money into this account on a regular cadence.
What if I’m still in debt? Can I still invest my money?
When I was in the middle of paying off my loans, I reached a point where I wanted nothing more than to invest my money. I wanted my money to grow! Mostly, I think I was tired of putting money towards loans and not something more beneficial… but I knew I couldn’t be successfully at any type of investment if I was still in debt. This encouraged me to double-down and keep putting my axe to the debt grind.
After a year of being debt free, I was able to save enough money and open my Vanguard account. I was pretty excited to be able to do this because not only did I have the money set aside for it… but because I was finally investing and taking control of my future!
If you’re out of debt, and looking for what to do next with your extra money – head on over to Vanguard and setup an investment account.
Are there people you can take care of this for me?
You bet there are people who do this professionally. They often take a small percentage of your account value (1-2%) and consult with you to make sure their strategies align with your goals. If you go with this option, my advice to you is to find someone you trust and can communicate easily with. Of course it’s always great to check on their history and track record, but if you can’t communicate with them or trust they’ll do the right thing with your money then you’re better off doing this on your own.