5 Must-Have Investments for a Secured Future Content Guide
Tired of your work-earn-pay routine?
I believe a huge chunk of people will say yes.
Of course, I understand.
It’s normal to daydream about having the time of your life and not worrying too much on bills.
It’s normal to desire your kids to graduate at a reputable school, or to travel outside the country as a family.
Who doesn’t want comfort and a bit of luxury, right?
However, not all people have realized that their chances of having that lifestyle decrease every time they say, “I don’t have money to invest right now.”
Whether you like it or not, bills won’t stop piling up.
If you want a secured future, you need to prepare for it as early as you can.
In fact, the sooner you start, the more likely you are to have a comfortable future.
But, this takes more than just the right financial investments – it also takes a few investments in yourself so that you can be proactive about some of the preparations you need to make to prepare for your future.
Indeed, you cannot just find a professional financial advisor and let him do all the work for you. It takes a lot more than that.
If you’re curious about some of the financial and professional investments you need to have to be as prepared as you can be for your future, consider the following investments.
1. Work on expanding your skill set.
Okay, I get it.
You got a degree. You have the job that you want. And, you’re living comfortably.
But COVID-19 made us realize that even huge businesses can disappear in a snap.
It’s now time for you to expand your horizons and unleash your inner potential by honing your skills.
This is a tip for survival.
What is a skill set?
It is a set of skills you need to develop on your own to stay abreast so that you can be prepared for your future.
Some of the skills you can develop – not all at once, of course – include basic accounting skills, analytical and problem-solving skills, technical skills that include different financial and other software programs, knowing how to write and verbally communicate, and many practical skills, such as time management, working under stress, marketing, decision-making skills, and the basics of portfolios.
There are also skills that you can learn to acquire part-time jobs and expand your portfolio, like learning to be a virtual assistant, a social media copywriter, a voice talent, web designer, graphic artist, and many others.
How do you develop these skills? The best way is through educational process, which means taking classes, conducting online research, and of course, reading everything you can get your hands on about these and other very important subject matters.
The more you learn, the more opportunities you’ll have for your career.
2. Don’t get stuck. Invest in stocks.
If you don’t have money to invest right now, you won’t have it at all in the future, unless you prioritize it.
Stocks might sound complicated, but the basics are easy to learn and not very intimidating.
Stocks are essentially investments in a certain company, and you can buy and sell stocks to make yourself some money.
Although you can also lose money, most people find that if they keep an investment for a certain length of time, they will eventually end up making money.
Stocks are sold by shares, with a price per share that can range from one dollar to thousands of dollars, and the price of those stocks goes up and down over time, which is why sticking with the stocks is usually your smartest option.
Of course, you cannot just head out to your local store and buy any type or any amount of stocks you want. You have to conduct the buying and selling of stocks through a broker.
If you learn how to invest money in stocks at a young age, it is very likely you’ll end up increasing your retirement fund over time, and learning all about them is the first step you should take.
3. Get yourself insured as early as you can.
Whatever happens, you can’t push your family to the edge of financial bankruptcy.
They don’t deserve to suffer because of us.
There are different types of insurance, but not all of them can be considered a true investment.
Life insurance, however, is different.
There are different types of life insurance policies with different rules and different premiums, including policies that actually build cash value over time, which means they can be worth a lot of money if you keep them long enough.
If you keep them until you retire, you can actually cash them in at that point and either live off of the money or start investing it elsewhere.
A good policy for life insurance Philippines will also make you feel good because you know your family will be protected should something happen to you while you’re young.
Furthermore, since insurance premiums are higher when you’re older, it’s best if you purchase one of these policies when you’re young.
This is especially true because there are some policies that have premiums that won’t go up after a certain amount of time. Your life insurance agent can provide you with information about all of these policies.
4. Learn the discipline in handling money.
Have you ever felt like you’re not saving enough?
Few years ago, I went through a series of financial depression when I realized I was living like a money machine.
I was totally confused where all my money went after working for years, considering I was single, not supporting any relative, and just basically living on my own in the city.
It all boiled down to how terrible I was in handling my own finances.
If you want to know how to make money, you have to learn how to handle your money first.
If you aren’t disciplined with your money, it won’t matter how much you invest or how much money you make because it simply won’t be enough.
Fortunately, there are tons of resources available that can help you manage your money a whole lot better, and if you have an accountant, a financial planner or an advisor, that is the best place to jumpstart your healthy financial journey.
I researched how others do it. I even downloaded an app to keep track of everything. It also pays to say “No” to something when it’s out of your budget.
Once you get a hold of it, it will become second nature to you.
It’s definitely an everyday decision and takes a lot of discipline, but everything will be worth it.
5. If you can’t decide how to start, hire a professional financial consultant.
Trying to build a portfolio and having a specific retirement plan is much easier with a little outside help, meaning a professional advisor who is there to guide you every step of the way so that you know you’re on the right path.
From learning how to invest in the stock market to deciding on the right type of life insurance and retirement plans, a professional financial consultant can steer you in the right direction so that each decision you make is the right one.
Yes, it costs money to see a financial advisor regularly, but you will save 10 times that amount of money in the long run, and you’ll have a lot more to retire on in later years.
Get inspiration here: 10 Bad Spending Habits to Break for Millennials
In this digital age, there are a lot of temptations not to pursue with our investment dreams. We often choose one-time luxury first over a long-term deal.
The good news is, there are really a lot of investment options that you can consider. Some of them are highly affordable.
It’s all worth it to try at least one after another until you reach your desired goal.
If you’re in doubt, you have the liberty to get a personal financial consultant that can help you.
Financial planners are easy to find and can offer you options to invest in your future that you didn’t know existed, so once again, the earlier you find one of these investment experts, the better off you’ll be when it comes to preparing for the future.
I can’t wait to see you soar high and enjoy your journey to a secured future!
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