If there’s anything I would want to try once 2016 starts that is to INVEST. Yes, being a Millenial who is successful and hardworking at what she does, investing (surprisingly) has become the most difficult activity that I have to bear. Saving the coins in my pocket is already nerve wracking to me, what more when I have to do it for a long time?
Annually, it is included in my list of New Year’s resolution. But, yearly, it has been the same resolution I always break. Looking back on my previous and current lifestyle, I was never the “conserving” type. Being a certified geek, I often splurge on tech items like the latest innovative gaming accessories or the newest iPhone or even a new computer table that you don’t really need nowadays. I was just not thinking about the future, as I am living in the moment. But, one day it hit me – I am not getting any younger and I need to save up for tomorrow. So, here I am, writing this post so I can do it along with other Millenials like you.
Perhaps, I still have not convinced you, yet. So here’s some of the top reasons why you should start investing as soon as possible.
• Not having to work your whole life.
There are only two ways in this planet to earn money – working day job/multiple jobs, and allowing your investment assets work for you. With an ongoing investment, you no longer need to work your entire life. Soon, once you get your returns, you can just sit back and relax.
• Gain more money.
Investment is different from saving your money in your pocket or under your bed. You are not earning from the money you are keeping to yourself, compared to when you invest it over. Let your hard-earned cash work for you by generating more money through earned interest or by buying and selling assets with high value.
• The earlier you start, the higher the returns.
This is no longer a secret. In almost all walks of life, the quote, “The early bird catches the worm” always applies. By investing now, you are allowing your future self to gain from what you’ve been working on for a long time.
• Goal: Achieved!
Unlock your short- and long-term goals by investing. Whether it’s to send the children to college or retire on a yacht in the Carribean, you can only unlock that possibility if you start investing early.
Now that you are on the same boat as I do, we have to make sure we are both ready to what we are about to face. A friend of mine, who is a financial advisor, gave me a list of questions that would help me in making the right investment decisions. Let me share some of the key questions you should ask yourself:
1. What is investment and how does it work?
Sure, maybe you know the thought of it and how to define it, but do you understand investment in a deeper level like where you should invest in or how much you should invest in?
2. What are your investment goals?
Define your investment goals. Are you looking for growth, safety, income, or maybe both income and growth?
3. What are the possible risks?
Investment is nothing without risk. You will soon understand that every investment requires risk – maybe a little or more. As an investor, you must be comfortable facing these risks and its consequences to ensure success.
4. How much do you expect to earn back from this investment?
Your expectation must be realistic. In order to get a high return, your investment must also be high, but the risks are also at the same level – thus, the importance of knowing the technicalities of your portfolio is highly important.
5. How long do you plan to invest?
Part of your list of goals is a laid out plan of how long you think you should invest. Will this be for a short-, medium-, or a long-term investment?
You are now an investment warrior, ready to take the next challenge.
Where do you plan to invest now?
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