January 2024 is almost over. How’s the first month of your financial fitness resolution going? At the end of December, we created a step-by-step guide to kick off your financial fitness journey. Let’s check in to make sure you’re still on the right track for a financially fit future.
Assess Your Finances
The first thing you did at the beginning of this journey was look at your current finances and create a budget so you know how much you can spend, save, and invest. Take a look at how your financial situation has changed over the last month, if at all. If it’s improved, consider expanding your investments for even greater yields down the line. If it’s declined, there’s no harm in pulling back a little. If it’s remained the same, make sure to continue keeping a regular eye on it.
Revisiting Your Goals
Maybe one of your main goals was getting out of debt. Or you want to grow long-term generational wealth for your family. No matter the goals, it’s important to revisit them and your current investment strategy to see if you’re on the right path to hit those goals within their various timeframes. If not, see where you can adjust. Maybe you have more you can invest in or you may need to lower your cash targets.
Calculating Risks
Now that you have some experience under your belt, reevaluate your risk tolerance. If you started conservatively, put some investments in the more moderate risk level. If you started high, keep a continuous eye on those investments to potentially avoid major losses. A great portfolio has a blend of various risk levels, depending on various factors (time frame, industry, company, etc.). However, this is all up to you. This is your portfolio after all. There’s no reason to shake things up too much if you’re not comfortable with it.
Monitoring Your Investments
One thing you should always be doing is monitoring your investments. We don’t mean obsess over them, of course. But a daily check in with weekly and monthly research never hurts. You can check out the Groundfloor blog for asset management updates, monthly market trends, and more investing tips and tricks.
Groundfloor’s Projections Chart
One handy tool to use when checking in on your journey is Groundfloor’s Projections Chart. This handy graph can be found in your Auto Investor Account in the Groundfloor app. It projects your account’s growth over a selected time frame and assumes Groundfloor’s 10% historic returns (inclusive of losses). You can enter a one-time or recurring transfer amount, set the time frame, and watch how your account can grow over time.*
With Groundfloor, it’s truly easier than ever to turn properties into passive income without breaking a sweat. Our 10 years of 10% historic returns can help you unlock the door to financial freedom. Plus, our set-it-and-forget-it method basically makes it your real estate investing easy button.
Hear from Groundfloor Investors
Don’t just take it from us. See what investors using Groundfloor are saying about the award-winning wealth-tech platform.
“Beats my bank and my broker! When I refinanced my home, I took out money for renovations I didn't need yet to capture the low interest rate. That, plus some personal and retirement funds, are invested in over 500 investments across Groundfloor, and has more than doubled in 2 years!” — Jim C.
“Invest like a landlord, skip the renters. Groundfloor answers the common investor dilemma. How to invest in Real Estate and get the banks out of our profits. For example, I invested $1,500 on July 26, 2022. I got repaid $1,520.31 on September 6, 2022. That’s a 13% return.” — National Apts, Inc.
“Solid platform and fun to be part of. Minimal risk per investment with low minimum investment of $10. The site makes it simple to spread investments across many properties. Love getting a text saying a loan** has been repaid. Every one of my investments have returned 10% as expected or slightly higher. I try to mix my investments up so my money isn’t always tied up for a year in every loan.** Sometimes I put it in an opportunity with 3-4 months remaining on the project.” — Rick H.
“I've been on Groundfloor now for almost a year and I just love the platform in every way. The information is clear and concise, their help articles do a really good job explaining what an LRO investment is, and transferring funds was super easy. All this was enough to convince me to throw some money at it to test out. Sure enough, I've consistently earned 10-12% on my investments and I'm allocating more money to it every month. Get after it.” — Chris P.
*The data provided in the Groundfloor Projections Chart is for educational and illustrative purposes only, based on past performance and hypothetical scenarios, and should not be considered a guarantee of future investment performance.
**When we use the term “loan”, we are referring to a Limited Resource Obligation (LRO). An LRO is a debt security available on our platform. While the term “loan” is commonly understood, it’s important to note that in our context, it specifically refers to LROs. The full definition of LRO can be found in our offering circular.
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