One of the objectives of the Face Your Finances webinars is to convince people that they can manage their own investments. We've been conditioned to believe that investing and personal financial management is too complicated for “regular” people. I can accept that perhaps we haven’t spent time talking about what investing is and how to apply it in our lives. I can even accept that there are complicated concepts surrounding long term planning and finances. But I completely reject the idea that we aren't able to learn, grow and invest. Here's a quick example...
I encouraged everyone to go look at their employer-sponsored plan (401K, 457B, 403B, etc.) and review your investments. Your employer invests in mutual funds, and all funds include a prospectus, or a guide to explain the fund. Here is a quick idea of what look for when you’re reviewing your prospectus.
What type of fund it is (industry, sector, cap size),
What stocks it is invested in,
What the rate of return has been for the fund and
What the expense ratio is for the fund.
This is quick look at the types of funds that you're holding - I'm not asking you to review the fundamentals of selecting stocks. And you may not make any decisions based on this review - but you've looked. You're becoming familiar with them - which is a fundamental part of facing your finances - becoming familiar with your investments. And for now - that's good enough.
I can accept that we haven’t been taught this stuff, I can accept that perhaps we haven’t had an opportunity to learn it. But somehow, we’ve all managed to get here. To the place where we know there are things that we don’t know and to want to understand them better. So before you tell yourself that investing, choosing investments, understanding your investments is too complicated - give yourself some credit. Everything you have, you learned and worked for and learning and becoming confident in your financial choices is no different. You can do this...I PROMISE!