5 Things You Should Start Investing in While You're Young
Everything within reach.
Reaching your prime before turning 40 is attainable. Think about it: you’re successful, career-wise; financially stable; and you’ve got all the time in the world to do whatever you want. Making sound investments while you’re still young should help you succeed a bit faster, and here are a few that you can start with.
Your wardrobe might not seem like a serious investment option, but what some people don’t realize is that investing in a handful of carefully chosen pieces can save you money in the long run. Basics allow to you stretch your wardrobe, and with a few accents here and there, you can completely transform your outfit.
You end up buying fewer clothes as a result, and if you buy durable pieces, you won’t have to replace them for some time.
Self-improvement and personal growth
The early days of financial independence should be the best time to invest in self-improvement. If you’ve ever wanted to take a class for something, do it now.
How much do we value our physical and mental health? Do we ever wonder how personal fulfilment, happiness, and peace of mind contributes to our overall well-being? Perhaps now would be a good time to reflect on and evaluate these these matters. And if there are certain measures we should take and activities—enrichment classes, a soul-searching trip, self-help seminars or even therapy sessions—that you feel the need to invest in, don’t hesitate. Let yourself grow.
Your retirement fund
The more time you put into growing your retirement fund, the more money you’ll get to spend during your golden years. Try looking into long-term investment options like stocks and real estate that’ll help your money grow faster than it would, sitting in your savings account.
Passive income sources
If you had an opportunity to earn more money with minimal effort, you’d take it, wouldn’t you? There are various ways to generate passive income. If you’re a prolific writer, you could earn royalties from your book. If you consider yourself worthy of being an influencer, try setting up a blog, social media accounts, and a YouTube channel and see if you can earn from affiliate marketing links and sponsors. You could even sell merchandise online on the side, or invest in mutual funds.
Your own place
If you’re thinking of investing in real estate anyway, you might as well look into buying your own place. Saving enough to make a downpayment on your own property and not having to pay rent for the rest of your life saves you money in the long run.
Property investment boils down to three things: developer, quality, and location. Park McKinley West has all three down pat. A project of trusted real estate developer Megaworld, Park McKinley West is being developed specifically for the urban dweller who wants a place to call his own even while enjoying the pleasures of cosmopolitan living. Residents will have convenient access to a variety of dining and shopping choices, a slew of options for entertainment and leisure, as well as the opportunity to invest in a fulfilling lifestyle in the future. The property is located in McKinley West, in close proximity to McKinley Hill.
To learn about investing in Park McKinley West, follow this link or visit the Uptown Bonifacio Information Center on 11th Ave., Uptown Bonifacio, Taguig.