OTHER THINGS YOU SHOULD KNOW Investing can feel a bit daunting, so one of the first investments you can make is in a retirement plan offered by your employer. You can make automatic contributions to your plan from your paycheck. Many public schools and non-profit private schools offer 403(b) and/or 457(b) retirement plans.
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Don’t put all your eggs in one basket! Diversification is a term to keep in mind. It means spreading money among various investments and is the best way to protect yourself against risk. It doesn’t prevent your investments from being impacted if the market drops, but diversifying can reduce the overall impact on your money. Your savings and investment approaches depend on your goals. If you have a long-term goal like saving for retirement, investing is the way. If you have a short-term goal, five years or less, avoid high-risk investments and come up with a savings plan (e.g. budget your paychecks to include stowing away money).
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