Where to invest in when you are in your 20s and just began to earn?
As much as it is liberating, it is equally important to save for the future. The future could be 10 years from today to build your own home, 2 years from today to get your own car or 5 years for your wedding.
Earning at a young age is so liberating. You finally begin to earn on your own and get to decide what to do with the money you earn. We are tempted to spend the money and enjoy our lives that we didn’t like children or when we lived on our parents’ expenses. As much as it is liberating, it is equally important to save for the future. The future could be 10 years from today to build your own home, 2 years from today to get your own car or 5 years for your wedding.
All the documents read a common line that suggests that mutual funds are subject to market risks, which is more or less true. While the other truth is that if you have an amazing agent, he will not only guide you through getting the best funds to invest in but will also educate you in which funds to rely on and how to go about them. Mutual funds are both on the extremes of high risk and low-risk funds. Depending on the span of the deposit and the amount of deposit, one may get returns.
One of the more upcoming and trendy places to invest is cryptocurrency; a currency that is on the web and with everybody but no one can touch or feel it. While it is intangible, one has seen more wealth through investing in cryptocurrency than other modes of investments. The market these days suggest high on earnings through cryptocurrencies and bitcoins.
Another undying platform to invest your idle money is to invest in diamonds or gold. Given the fluctuation of the crude oil, one can definitely say that the rates of gold are going to ever keep increasing and not decrease. It is a safe investment and with definite returns; especially when you go out and sell it in times of crisis. If you are not willing to directly invest in direct gold or diamond, consider buying something like diamond rings for girls or boys so that you are saving for the future engagement ring you might have to purchase or fancy gold necklace with designs in 30 grams or 60 grams that you might need at your wedding.
A more used old fashion way of investment is keeping your money with the bank or the post office at a fixed account. This enables a certain amount of profit that you will get along with your principal amount at the end of the period of the deposit. A lot of old-aged people prefer keeping their money in the banks in fixed deposits devoid of any understanding on the Cryptocurrency or mutual funds. One benefit is, there are no market risks in fixed deposits. One knows at the end of the period what he is going to receive.
Make a wise decision and channelize your income by investing in the right places.