If you’re thinking about investing in your future, you’re miles ahead of many others. It may not feel like it now, but retirement will come before you know it. Get proactive and start preparing now.
Saving Tips
Make saving a habit that you do on a regular basis for the rest of your life. Set aside ten percent of your net income each month and put it into an account you never touch, save for a dire emergency, such as loss of employment or injury.
Peter Comisar suggests that you save enough to live on for three to four months. If disaster strikes, you won’t have to liquidate other investment plans. Once you have sufficient funds in your emergency account, start saving for other investments. Here are some ways you can invest your money so that you have a comfortable amount to retire on.
Retirement Accounts
This is one of the first ways you should start investing money to prepare for when you want to quit working. Retirement accounts, including 401Ks and Individual Retirement Accounts, are easy ways to save for retirement. Even small amounts, if added to your account faithfully will add up to a comfortable retirement someday.
Real Estate
Also, consider investing in real estate. The easiest way to do this is to buy a turnkey property, a residence that’s ready to move into. Once you close on the property, you can turn around and rent it out, meaning instant income for you. Use that money to pay off the mortgage so you own the house outright in a few years and then purchase another turnkey property. Make it easy on yourself and hire a property manager to vet tenants and collect the rent. It’s an easy, inflation-proof way to invest your money.
Cryptocurrencies
Cryptocurrencies are a form of digital money that’s here to stay. The currency itself is created or “mined” whenever someone purchases a bitcoin or other currency online. Miners work together using powerful computers to create a complicated sequence of numbers to identify that coin. Whoever does the most work is rewarded a coin of their own. When the currency first came out, miners earned more coins than they do today, and in the future, they’ll earn less for each transaction. That makes the currency increase in value as time goes on.
When you’re ready to invest your money, consider these three ways to invest your money for a golden future.
