We can all find ourselves focusing on what is happening from day to day. There isn’t anything wrong with that approach, after all, you may have a goal in mind for quitting the rat race of your job, wanting to start your business from home, or pay for something like a holiday or house deposit.
Short term goals are absolutely fantastic for keeping your inspiration and motivation levels high and buzzing. But what about the future? Do we really stop to wonder how are situation will be in our golden years, or even ten years from now? With that in mind, here are some of the future investments worth considering.
Investing in a Small Regular Savings Account
We know saving is good, and we know that we need to do it more regularly. But yet our small and short term savings can often be put towards other things such as holidays and items we need for our home. There is nothing wrong with that. Having short term goals is great for this as while you work hard you also need to enjoy your life. However, with the future in mind, setting up a regular saver that saves only a small amount each month will soon add up in years to come. Think about it differently, say you have a take out coffee everyday. Taking the cost of one of them, and multiplying it by four is technically four coffees in the month, putting that away each month is hardly going to be noticeable, but in ten and twenty years down the line you would have saved a fair bit.
Investing in Property
Property is always going to be a huge investment that you can make for the future, and so you may be wondering what it is you can do to ensure this will work for you. Getting on the property ladder, buying in the right location, and taking into account how you want to live your life, such as sustainability and energy efficient is the way forward. There will be considerations such as whether you can deal with limited access the middle of winter because you want to live off the grid, this is when websites like https://northernmat.ca/services/winter-road-construction/ could prove useful, or whether or not your new home is close to work and other aspects of life. However, it can be the one solid investment you make that befits you now and for the future.
Investments in Stocks and Shares
Maybe you like the idea of a long term investment, then stock and shares could be something you should consider. However, there is an element of risk to it, so I suggest that you do plenty of research ahead of actually investing money to ensure that you feel comfortable with your choices. Stocks and shares rise and fall, so it is important for you to understand that this could be a game that you sit on for a while until you start to see a healthy return on your investment.
Have You Got Pensions or a Sustainable Income for the Future?
Finally, have you thought about an income for your future? These days employers will already have you paying into pensions, which is a good thing, but it might be work seeing advice from an independent financial advisor to ensure that you invest properly and consider the lifestyle for your future. Knowing what you want will help determine what moneysource you will need to sustain it.
Let’s hope that this has given you food for thought to consider your future situation.