As the senior leader of Kingdom Life Church and a financial advisor with years of experience at top companies, Joey Feste is focused on helping people who want to build wealth through investments that are best suited to their needs and goals. Along with his son, Joey Feste Jr., Feste is working on taking his church and his company to the next level. Feste is the Senior Managing Partner of wealth-management company KM Capital Management, and has a bachelor of arts in economics from the University of Texas. He also brings over 30 years of experience in the financial sector to clients who need and want new and better ways to build wealth and reach their goals through strong investment strategies.
Feste is also a Registered Investment Advisor Representative, who is truly dedicated to the needs of his clients and the experiences they are looking for. That helps him ensure that he is providing those clients with the value they expect and the quality they deserve when they come to him for financial advice and a focus on their future. One of the most important things Joey Feste teaches his clients, and others who are interested in wealth building, is that they need to understand the right time for investing in their particular situation. That helps them make financial choices that will improve their future and allow them to meet their goals.
Many high-net worth individuals, such as entertainers and athletes, seek advice from Joey Feste and Joey Feste Jr., at KM Capital Management. The company focuses on a comprehensive suite of financial services for these clients, and helps them get more personalized recommendations that fit their individual wealth-building goals. Fortunately, the same kinds of techniques and tips can also be passed along to those who want to get started in investing, in order to help them move forward in ways that protect their financial future as much as possible.
The Right Time to Invest
According to Joey Feste, the right time to invest is as soon as a person reasonably can. However, that does not mean the minute they have an extra dollar in their pocket. There are caveats to the “now” where getting started in investing is concerned. As an example, anyone who is going to start investing should make sure they have paid off any high-interest debt first. It does not make logical financial sense to invest with a 10 percent return, for example, but be paying out 16 percent interest on credit card debt. Instead, it is much more financially sound to pay off the credit card debt first, and then use the money that was making those payments to start investing.
Before making an investment with that money, though, there is one more thing a person should do. They should set up an emergency fund, equal to at least three months of expenses. If they were to lose their job or have other financial difficulties, that would allow them to pay their bills for a period of time until they found a new job. There may be unemployment or other factors in the mix, but it is never a good idea to rely on those things. Instead, it is better to make sure that money is saved up and can be used conveniently, if and when it is truly needed for an emergency.
According to Joey Feste, and his son Joey Feste Jr., paying off high-interest debts and having an emergency fund are two of the best ways for people to protect themselves from financial problems. Then, once they have reached that point in life, they can focus their plans on moving more into investing in the things that are important to them, and that will help them to build more wealth in the future. For example, they do not need to pay off their home first, because home loans are typically at lower interest rates. But credit cards and personal loans with high levels of interest should be paid off, and an emergency fund created.
For Strong Wealth Building, Keep It Simple
One thing that Joey Feste, and his son Joey Feste Jr., find very important where money management is concerned, is keeping things simple. That can mean choosing a trusted financial advisor for building wealth, but also making sure that the person is not making investing into something complicated. Cutting out excess spending and putting that money toward investing is a good way to improve the amount of money that can be invested. While it is important to still have some money that is just for fun, limiting that now can mean building a lot more wealth for the future.
Anyone who has an employer with a matching program would be wise to take full advantage of that program as much as possible. These programs work by having the employee invest in a retirement fund, and the employer matches the employee’s contribution up to a certain percentage. The employee can invest more than that, of course, but the goal is to make sure the full employer match is being utilized to help build wealth as quickly as possible. This is among the best ways for fund maximization, and can provide employees with additional means to help them retire. When coupled with other investment vehicles, it may even help facilitate early retirement, says Feste.
In addition to these types of investments, however, there are plenty of other ways to add to wealth and build it more fully and substantially. As an example, both Joey Feste and Joey Feste Jr. recommend starting out with small investments that are simple to manage and easy to track. Investing is a skill, and it is one that has to be worked on in order to be improved. That means spending time on understanding how it works, and being dedicated to improving it for all the value it can provide. When starting out small, there is a lower chance of seeing financial harm.
Mutual funds, stocks, bonds, and robo-advisors are all often used by people who are just getting started on investing, Feste says. However, as wealth continues to build, it is more important to work with a company such as KM Capital Management to personalize and target wealth building and investments for the future. Investing is also a very personal issue, so comparing one investor to another is not a good practice. It may not paint a true picture of where those investors really are in life and in relation to their goals. Running one’s own race is the best strategy for investors to consider, no matter how much wealth they have already built.
Investing in financial markets is not the only interest of Joey Feste. In 2010, he was feeling called to invest in people. That led him to start Kingdom Life Church in San Antonio, Texas. In addition to preaching there frequently, Feste understands that helping the people of the community and the businesses in that area can make things better for everyone. Combining two of his most important passions is helping Feste realize his dreams, and allowing him to help many other people realize theirs, as well.