Easy Investment Strategies For Everyone
It doesn't matter how old you, it is never too early to begin planning your retirement. In fact, the younger you are when you start saving, the more money you will have when you do finally retire. There are many different ways to start saving money, however these are the most simplistic investment strategies for everyone.
Participate in your employer's 401K. Many companies offer a 401K, a type of retirement fund, that will come directly out of your paycheck before tax. Because the money comes out of your check before tax you will not notice it that much. Many companies will also match (to a certain percent) what you contribute. You should contribute at least as much as your employer will match.
Start a savings account for a "rainy day". Want a new car? Want to go on a cruise? There are many things that you will want in your lifetime, however if you do not save for them they will not happen. Putting aside at least twenty five dollars a week into your savings will mean that you will have over fifteen hundred dollars saved by next year. If you can't afford to save twenty five dollars a week, start with ten or five. If you can afford to save more a week, then by all means do it. Everyone is in a different financial position, however that doesn't mean they can't start saving a little.
Stop renting and buy a house. When you rent, you are giving your money to someone else to pay for their mortgage. So stop renting and pay for your own mortgage! When you decide to sell the property you'll be amazed by how much money you'll walk away with.
Have an "in case of emergency" fund. One savings account is not enough. You should have enough money to pay for a few months of expenses should something unfortunate happen.
Spend your money wisely. If you go out to each several times a week or month then don't go out to eat as often. Bring your lunch to work so that you do not have to buy food. Recycle your cans and bottles if you don't already. The old phrase "a penny saved is a penny earned" applies here, and any money that you do not spend you can save for your future.
Start saving early. The sooner you start saving, the more you will have when you retire due to compounding interest. What are you waiting for? - 23305
Participate in your employer's 401K. Many companies offer a 401K, a type of retirement fund, that will come directly out of your paycheck before tax. Because the money comes out of your check before tax you will not notice it that much. Many companies will also match (to a certain percent) what you contribute. You should contribute at least as much as your employer will match.
Start a savings account for a "rainy day". Want a new car? Want to go on a cruise? There are many things that you will want in your lifetime, however if you do not save for them they will not happen. Putting aside at least twenty five dollars a week into your savings will mean that you will have over fifteen hundred dollars saved by next year. If you can't afford to save twenty five dollars a week, start with ten or five. If you can afford to save more a week, then by all means do it. Everyone is in a different financial position, however that doesn't mean they can't start saving a little.
Stop renting and buy a house. When you rent, you are giving your money to someone else to pay for their mortgage. So stop renting and pay for your own mortgage! When you decide to sell the property you'll be amazed by how much money you'll walk away with.
Have an "in case of emergency" fund. One savings account is not enough. You should have enough money to pay for a few months of expenses should something unfortunate happen.
Spend your money wisely. If you go out to each several times a week or month then don't go out to eat as often. Bring your lunch to work so that you do not have to buy food. Recycle your cans and bottles if you don't already. The old phrase "a penny saved is a penny earned" applies here, and any money that you do not spend you can save for your future.
Start saving early. The sooner you start saving, the more you will have when you retire due to compounding interest. What are you waiting for? - 23305
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posted by Mr. Forex at
2:45 AM
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