Get Started Investing, Says Joey Feste, Sr. Managing Partner of KM Capital Management
Joey Feste is the Senior Managing Partner of KM Capital Management, and a financial manager who understands that investing in markets and portfolios is the way to build wealth and value. But in order to do that, people have to get started on their investments and move forward with their financial plans and goals. But money is far from the only thing that Feste sees as valuable. He is also the senior leader of Kingdom Life Church, and through that experience he understands how important it is to invest in people.
By helping individuals succeed, it’s easy to make the community healthier and better for people involved in it. He works with his son, Joey Feste Jr., to help his company and his community build up stronger than ever before. By bringing more than 30 years of experience in the financial sector to his clients, Feste couples that knowledge with his bachelor of arts degree from the University of Texas, where he studied economics.
Joey Feste is also registered as an Investment Advisor Representative, and he has a strong focus on the needs his clients have and the kinds of experiences they are really looking for when they want to build their wealth. By working with people to develop their understanding of when they should start investing, Feste and his son, Joey Feste Jr., help more people make stronger and more valuable financial choices.
In his work at KM Capital Management, Joey Feste focuses closely on the management of private wealth. His company is now a leading firm for that service, and is especially important to people with high net worth who are looking for recommendations and information that is personalized to them and their wealth-building journeys. That way, these individuals are much better able to move toward their financial goals and realize their dreams of having higher levels of wealth and giving back to their communities.
Choosing the Best Investment Time
According to Joey Feste, the very best time for anyone to start investing is as soon as they possibly can. They shouldn’t wait, because the goal is to build up their wealth over time. Theoretically, the more time they have to build that wealth, the higher the accumulation of wealth will be. Still, there are caveats to this particular investment strategy. For example, anyone with high levels of debt, especially if they also have high interest rates, will want to pay that debt off or down before investing.
They need to be mindful of the fact, says Feste, that they won’t really be making anything on their investments if they are paying out more in debt. In other words, a 10 percent return on their investment dollars isn’t valuable, if they are also paying out 16 percent in interest. Most commonly, that level of interest is paid on credit cards. But there can also be higher-interest loans for other things, particularly if a person doesn’t have a strong credit score. Paying the debt first helps reduce financial risks and problems.
Another caveat for building wealth is that it’s very important to have some living expenses saved up before putting money into investments. Feste recommends at least 90 days of expenses, in case someone loses their employment or experiences some type of unexpected issue that they need extra money for. When those problems arise, it’s most important to cover the basic bills of the household. With a monetary cushion saved, it’s easier to handle those bills without extra stress and worry.
A return on investment (ROI) should be over and above anything else that a person has to pay for or address in their financial life. When other areas of financial life are properly in place first, the investing is something that can be worked on more easily. That could mean a little less money to invest, or it could mean having to wait for a while in order to get started, but investing will be less complicated and less stressful when other areas are taken care of first.
For Good Investing, Stick to the Basics
Another area that Joey Feste and his son, Joey Feste Jr. see as extremely important for good money management, is working to keep everything about investing and finances as simple as it can possibly be. That means looking for a trusted advisor to build wealth, but also considering the way their advisor is handling their investments. If things feel too complicated, even with someone else at the helm, it may be time to make some adjustments to simplify the process and reduce stress.
Focusing on paying off the higher-interest debt, creating a cushion for an emergency fund, and then starting to carefully invest, is the way to keep everything simple. It reduces how much a person is trying to financially juggle at one time, and can help them be more successful in the long term. With time, it’s also possible to consider more complicated investments, or those that are larger and more significant. But starting small is the best way, to learn the basics and get everything moving in the right direction.
One simple way to increase investments, says Joey Feste, is to work with an employer who offers a program for matching invested money into a 401k. Many employers will match a percentage of their employees’ investment, and that can help those employees get started on wealth building without the need to do anything more than have a small amount taken from their paycheck every payday. Employees who want to invest more than the employer match percentage can do so, but the goal is to invest at least enough to receive the full matching amount. That’s typically between three and six percent, but it can also vary depending on the employer.
Not everyone has that option through their employer, and some people are self-employed, as well. For them, says Joey Feste and his son, Joey Feste Jr., the opportunity to build wealth may not be as strong. However, there are many other types of investment vehicles, and having an employer match is not a requirement to be successful at investing and building up financial security. Investing is part of a financial skillset, and the more a person is committed to learning those skills the more successful they can be.
In the beginning of a financial journey, it’s best to make smaller and more carefully planned choices. That often includes things like robo-advisors to help them make decisions, and investments in areas like stocks and mutual funds. Companies such as KM Capital Management are ready to help people build up wealth faster, after they’ve gotten started. Investing is individual, when it comes to preferences and the journey each person is on. A focus on goals, and help from an advisor, can mean more wealth in time.
In 2010, Joey Feste recognized a calling to do more than just help people with their wealth-building needs. He started Kingdom Life Church, located in San Antonio, so he could also help people with spiritual journeys. He preaches there frequently, and helps local leaders in the business world combine God’s Word with the other work they do.