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The First Thing You Should Do in 2021

DATE POSTED:January 1, 2021

New Year's Day is a time to reflect on the past year and take steps to make the coming year as good as it can be. From a financial standpoint, 2020 has been incredibly challenging for millions of people, and even the promise of a fresh start won't quickly solve many of the money troubles they're facing.

It's therefore understandable that many people have put aside thinking about long-term financial goals in 2020. As important as it is to do things like funding an IRA or making contributions to a workplace retirement account like a 401(k), tough times require difficult choices. Because of that, you won't hear the same advice from me you've seen in past years about getting money into those retirement accounts as soon as you can -- even though that's still a smart thing to do.

For 2021, my recommendation is simpler: Go out and invest in shares of at least one individual stock. It doesn't take much money, but it's a vital part of understanding how the investing world works and how you can take advantage of it to build a financially safe and secure future.

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