10 tips on how to invest for millenials 2019

Millennials are now finding out that “adulting” can sometimes be difficult. Although there would be some millennials, as in any generation that would be flung into their family businesses, not everyone would be lucky enough to be born with a silver spoon in their mouths. This is why investing would be an important tool to use in the quest to getting richer.

Investments that millennials can consider

The millennials generation is a very adventurous one. They would be brave to travel to new places, sometimes alone. They would eat at every new restaurant, trying new fare and not be afraid to spend their money on those gastronomic adventures.

However, when it comes to investing, millennials are sometimes hesitant because they would not know where to put their money. After all, eating at the newest restaurant in town is not so much a financial gamble when it is compared with investing in a business. Here are a few ideas for where millennials to invest their money in.

Take out an insurance policy

It would be wise to get a life insurance policy. This would give you peace of mind to face any kind of emergency that life would throw at you. Your money would be invested well with life insurance because there would be some policies that would include an investment side to them. These would be good investments that would not require any effort from you once you start paying. It would be a good idea to list down the needs of your family before investing in this, so you can customize your policy based on those needs.

Bank Products

Bank products would be savings accounts, checking accounts and time deposit accounts. Even if you have a payroll account with your employer, it would still be wise to open a personal bank account for you to put savings in. Little by little, you will see your account accumulate an amount that will grow over the years if you religiously put money in without taking any out.

Small businesses

If you would be particularly brave about investing your money, a small business would be the right choice for you. Choose something that you like doing and start small. Maybe sell baked goods to friends and family, and then watch as your business will grow. Word of mouth will be the key to having this kind of business grow. More people will hear about your products and buy them if you keep the quality high without raising prices too much at first.

Stocks

Investing in stocks is a good idea, but this would require that you have a little knowledge about this first. It would be a good idea to consult a financial adviser before getting started with this. However, once you get the hang of it, the gains can be substantial, if you are lucky.

Bonds

Bonds would be similar to stocks but would have fewer risks. If you are not ready to invest in stocks, you can choose to invest in bonds instead. 

Real estate

You can also choose to invest in real estate if you have the extra cash to shell out. Buy a property and use it to earn extra cash for you. Rent it out so it can become self-liquidating.

Retirement fund

It would be wise to invest in a retirement fund, no matter how young you are. This fund will provide security for you when you eventually stop working. You can have this added to your insurance policy if you invest in one.

Seminars

It would be a good idea to attend seminars that would be relevant in what type of investment you plan to have. There would be seminars about stocks, bonds, and other types of investments.

Invest in yourself

Go back to school, better your knowledge in your craft, to gain higher chances of getting promoted. Whatever you do, make it worth your time and money.

It does not take so much to invest, it would only require that you know where to put your money, the time to devote to study what you will invest in and also the capital to start. If you have all of these three, consider starting an investment today to earn extra income. You will thank yourself later.