Starting to Invest

Before You Invest

Before you take the plunge and start investing, it is important to assess your overall financial health. You’ll want to make sure you have a sustainable budget, an emergency savings fund with 3-6 months’ worth of expenses, and pay down any high-interest debt you may have. A budget will help you determine how much you can afford to regularly contribute to an investment account and an emergency fund will help cover any unexpected expenses without touching your investments. It’s also essential to pay down any credit card or other high-interest debts that could offset your earnings from investing.

Identify Your Goals

Whether you are saving for a home, retirement or just trying to build your wealth, laying out your financial goals is the first step to successful investing. Before you can make decisions about your investment strategy and risk tolerance, you have to determine the amount of money you need and the time you have to reach your goal. For retirement, we generally suggest an annual contribution to your retirement plan of 10-15% of your income.

Understand Your Options

When it comes to investing, building a relationship with a financial expert is highly recommended. At BankChampaign, we work with you to help develop a strategy, determine your risk and achieve your goals. With over 30 years of investment experience and over $350 million in assets under management, you can rest assured that your financial future is in good hands.

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