In order to live well in retirement, you have to plan now for your future. You may think in your twenties and early thirties that you have oodles of time to save money.
However, the years go by quickly and without any money to supplement your retirement, you’ll not experience the same quality of life you have presently. Listed below are a few investment ideas.
The Long Road
When it comes to making money, there are very few get-rich-quick methods. More than likely, if it sounds too good to be true, it is. However, you have the advantage and a one-time opportunity to invest your money in the long-term.
The advantage of putting your money into long-term stocks is that you can ride the tide of a sometimes volatile market. If you are clueless as to what stocks to invest in, a reputable broker can help offer tips and advice on which stocks to invest in.
While traditional pieces of jewelry such as chains and hoop earrings generally won’t provide a healthy return on your money, unique one-of-a-kind pieces tell another story. Old antiques, which are often called estate jewelry, can increase significantly in worth over time.
You see, investing in jewelry is far different from the risky stock market. The market will not have any impact on your margin of profit. Of course, there’s always a risk and never a guarantee that you’ll find the right buyer that exceeds expectations.
Real estate is something that many people use as an investment now and for retirement. In the right economy, you can buy low and then, when you’re ready to sell, turn a large profit.
However, before making your initial investment, it’s important to do plenty of research. You’ll need to know the areas exploding with growth and projected growth over the next few decades.
You should also purchase homes in neighborhoods with convenient access to things like shopping centers, schools, and parks, as their proximity is important to buyers. Owning real estate lets you enjoy rental income now and a nice nest egg in your retirement.
The Safe Bet
Perhaps you’re not much of a gambler. You prefer to make sound investments for the long-term that come with a small risk. United States treasury and savings bonds are two examples of a safe place to invest money.
However, just keep in mind that the lower the risk, the lower the return. While you won’t make huge profits, if you purchase one yearly, you’re self-imposing savings for your retirement that will offer a small amount of compounded interest.
Through Your Employer
Chances are you received an offer to put a percentage of your salary into a 401K. Hopefully, you signed up quickly. A 401K does come with risks as it goes up and down based on the stocks in your portfolio.
However, for the long-term, it can provide a sizable nest egg. Most employers also offer to match your deposit up to a certain percentage, which in general is 3 percent. So now you’re doubling your savings efforts at half the cost to you.
A 401K provides other benefits. Once fully invested, you are able to make withdrawals up to a certain amount in the form of a loan repaid to you with interest. You can use the money for a down payment on a home, pay off student loans or buy a car.
Before you know it, you’ll be retiring.
If you want to ensure that you enjoy a good quality of life once you stop working, you need to make monetary investments now that will pay dividends.
Keeping several papers and tangible investments in play, such as long-term stocks, real estate, and jewelry and rare and discontinued coins, will offer the best chance for profits.
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