Recovering Women Wealth

Sober Women Managing Money & Mental Wealth

How Ignoring the Market has Kept Me Invested

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Photo by Markus Spiske on Unsplash

Well, it’s probably time I write a post about the market, investing and what’s happening to our economy. So far during this global pandemic, I’ve written about staying positive, cautious and invested as well as the importance of a healthy routine as a single during our social distancing.

My main concern during this time is everyone’s health and safety (that includes mental health!). The market will rebound and the economy will also rebound.

Secondly, my next concern is economy-related. We all know a lot of folks who are out on furlough right now and/or in danger of losing their business due to the massive shut down. Everyone is being affected by this pandemic.

This post is to answer some questions and clarify some buzz words surrounding the market and economy as well as share my secret sauce to investing.

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Inspiring Women in Recovery – A Story of Powerlessness Featuring Shari

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I’ve been very excited to begin this interview series, inspiring women in recovery. However, first I had to line up some interviews. If you are a woman in recovery for anything and would like to share your story here on Recovering Women Wealth, please reach out to me. It can be wholly anonymous or not.

Without further ado, here is the story of my good friend, Shari, who tells her story of powerlessness…

Shari’s Story of Redemption

My name is Shari and I am 55 and remarried. I live in Northeast Ohio with my husband of 11 years. I have a 23-year-old son, who by the grace of God, is nothing like I was in my youth. As a child, my mother often expressed her wishes that I would someday have twins, just like me. Thank you, God, this has not happened!

On November 19th I will celebrate 20 years of continuous uninterrupted sobriety.

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Post-Tax Investing with M1 Finance

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I always recommend investing in your tax-advantaged accounts before doing any after-tax investing. The reason is if you can reduce your taxable income now, great. Chances are when the time comes to withdraw that money in retirement, you’ll be in a lower tax bracket.

Once you are maxing out your tax-advantaged accounts and are looking to invest more, you might be interested in opening an individual investing M1 account. This post is to give you my review of M1 Finance which is where I invest my post-tax monies. However, you can do tax-advantaged investing with M1 as well!

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So You Want To Be An Investor

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There is nothing wrong with hiring a Certified Financial Planner (CFP) and if you do I’d recommend one with fiduciary responsibility.

What I’m not okay with is hiring a CFP because of a lack of investment knowledge. If hiring a CFP is in your best interest, you should hire someone who shares your beliefs/strategies about investing. That means first you’ll need to understand the basics of investing. My advice is to NEVER invest in something you don’t understand.  It’s your money and you want it to work for you.

You took the time to make it, now take the time to learn what it can do for you.

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