There are thousands of ways to invest and I encourage you to consider looking at each one and maybe even invest in most of them. The reason is that most of the time you can’t go wrong with investing. This is an overview of the three biggest investments that most people will make in their lifetime.
1. Mortgage – This is more than likely to be the most significant investment you will ever make! We are talking about an investment of 30,000 plus. That being said, slow down! Once you are ready to buy your first home, I understand that the excitement is very real. However, nothing is less exciting than being kicked out and going back to your parents. So, take notes carefully and pick up your ducks in a row before making this investment. As many financial gurus have stated over and over again, when you invest in a home, be the turtle, not the rabbit! You will thank yourself later!
2. Education – With student loans, which abruptly leave the controlled environment, this may be the number one investment in a few years. Colleges want every penny and your soul in exchange for a “remarkable” education. Unfortunately, most people are not able to argue. We need this education to find a decent job and we will take care of what we need to support ourselves. Once again be the turtle! Do research, seminars, work with your feet and all this to make the loan as low as possible and then do the math. If you can’t pay off your loan after 10 years of working for the career you went to college for, I’d say go ahead and get on.
3. Income – Let’s be honest, your daily work will probably never pay you for your satisfaction. I’ve seen business entrepreneurs and middle class members choose part-time work just because they wanted to get this new boat or new car a little faster. Even fast food work requires some investment. You don’t even have the right to turn burgers in the back room unless you’ve invested $ 100 in new skinny pants and slip-resistant shoes. Find an investment that will significantly increase your income! I personally would not waste my time on the minimum wage. Generally speaking, the higher the investment, the higher the return on your investment!
In the long run of investing, fear will cost you more money than anything else! Make sure you are properly informed and take your ducks in a row, then go get this mortgage, this education and this income increase with confidence!