Good news: There are a lot of investment opportunities out there.
Bad Another Good news: Although it can be a little overwhelming, it’s really not that scary to invest regardless of your age, career, status, etc. and yes! We’re also talking to the youngsters who just began “Adulting.”
Contrary to popular belief, investing is actually easier than you think! Here are a few things we learned from last week’s Eureka Series: A Closer Look into Your Investment Choices about starting your road to financial success:
1. Know Why You’re Investing in the First Place
Your motivations for investing is crucial because it determines your investment choices: the duration of it, the speed, where it goes, etc., so it’s better to take some time to consider the pros and cons of investing before getting into all these investment trends in the market. It’s practical to narrow down your objectives to know how you can benefit from your investment choices.
2. Study Your Options
The investment opportunities in the market are countless, and not all can guarantee a fruitful return, but you might want to consider investing in real estate, stocks, and cryptocurrency (ever heard of bitcoins?) as these are some of the more profitable investments in the market today offering substantial return in the long run. After all, investing should have the long term in mind, not just for the immediate future.
3. The Earlier You Start, the Better!
Getting started on your investment journey need not be costly. It should only take a small portion of your monthly salary to get you started. According to Eden Dayrit, president and broker-owner of RE/MAX TRP Realty, a leader in real estate investment in the country, it should only take 30% of your monthly income to get you started in investing in real estate.
Marc Santarina, a stock broker from UTrade, suggests that investing in stocks, for example, has to be done in the early stages of a company to see it mature should the company become successful in the future. The return of investment will be bigger in the long run, especially if you’re investing to prepare for your retirement. So the earlier you start, the better!
4. Know Where Your Strengths Lie
As much as it is important to know where your strengths lie when investing, it’s also as important to know the strengths and weaknesses of the investment options that you are considering. Do your individual research and read up on what each investment opportunity offers and how it’s different from others. Of course each investment has its strengths and weakness, now it’s up to you to determine which one works best for you.
5. Don’t be Afraid to Ask the Experts
It’s important to ask for help from experts who know the ins-and-outs of all these investment choices to give you a better understanding of the industry, and probably give you some tips on your first investment choice, so don’t be afraid to approach one! And you definitely can! RE/MAX, the number one real estate franchise and home of some of the best real estate agents in the country, is here to guide you in every step of your investment journey!
If you’ve made up your mind after reading this, you better tune in because we’ll be inviting RE/MAX to join us on our next Eureka Series on September 2018.