3. Identify Investment Vehicles Whether its businesses, regular savings accounts, time deposits, treasury bills, treasury bonds, corporate bonds, mutual funds, stocks, crypto currencies, or real estates, each has its own pros and cons and pretty much vary in the returns it yields. There are, in fact, a lot of options and it won't take much time to study and put into practice. At least get to know the fundamentals of each. Take your savings account as an example. It is considered as the lowest-yielding investment that could only max up to 1.25% annually - you'd even have to be really lucky to get that rate as most banks offer only less than 1%. This could be one of the best sources for emergencies. And it sure is risk-free, however, inflation beats you by a few percent. Only a few, yes, but point is you're losing money over time. As you see, it really pays to know more. If you are a risk taker, consider mutual funds, stocks, or perhaps, crypto currencies. Remember, the higher the risk, the better the rewards. You can take advantage of this while still in mid 20s or early 30s since there is still time to patch up some losses, if you happen to incur any. 4. Don't rush, but don't delay You might feel overwhelmed and confident that you have mastered investing after reading this article or a couple, but don't get too ahead of yourself. Continue to learn more. Remember, the world is constantly changing and we need to keep up with the times. When you've learned the basics, regardless if you only have enough or little, start immediately. There is no other way to get better at this than putting it into practice. Conservative? Start small. This is not a race but the earlier your start, the better. 5. Diversify High-yield investments are tempting and could materialize retirement sooner if you hit it bigtime. Unless you could stomach a possible huge loss, it is highly discouraged—especially when you just started building a portfolio. Mix up your basket in a way that risks are fairly distributed. It might be confusing and a bit frustrating at first but eventually, it'll get easier which brings me to say... 6. Keep it up A skill that requires constant honing and mastery, saving for retirement is a lifetime habit. Continue to educate yourself and if possible, get the latest updates on your investments. Almost every information you need is available on the Internet. So, make good use of it. In time, you will develop your own methods and eventually get better at saving and investing. There is always a risk in everything we do. But only with sufficient knowledge thus can be avoided. Do more, stay low, and most importantly—help others. Thank you for taking time to read my article. I strongly believe in the power of sharing, I hope you do too!
A Flight Ov e r the Sea Black Ihor Pavlyuk
ELISE LEACH
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9781970160611 $ 10.99 184 pages
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