Investing For The Future

In life it is wise to have multiple streams of income. This is a way to ensure that you have a source of income throughout your lifetime to meet your needs. We must prepare for our tomorrow today if we hope to retire comfortably. The idea is to make our money work for us making money rather than sitting idle and losing value.


Saving money is ideal, but if the money is sitting somewhere not earning interest, it is just losing value. There comes a time to take risks with our money and invest in the highest returns we can receive. At the very least, money should be invested in as high interest as possible saving, checking, CD and money market accounts. Find the highest returns and read the terms before you commit.


Lately I have been looking for greater returns since I will retire in about 5-7 years and am looking for greater returns. The most banks give is 1-1.5% return on money market and CDs, so I am looking at stocks, mutual funds, ETFs, etc.


I really don't like to talk about investments because they involve risk and I don't want to be wrong or right about your decisions. I made enough investments where I made money. lost money, and broke out even. It's a matter of learning from experience and what works for A doesn't work for B.


The earlier you start investing  for your retirement the better your earning potential because you are able to take more risk. But the closer to retirement, the more of a conservative portfolio you want. Consult a professional financial advisor for all your investment needs.


Online investing and beyond I like Charles Schwab and Fidelity. These sites are novice friendly and will guide you to your investing needs. Granted that it involves mostly their products, but these are top names in the investing business.


A great way to start investing if retirement is not far away is to go with target funds. These are funds that have a target date to make money. One the best is the Vanguard Target Fund.


The stock market is a funny thing because most of us are clueless just what a money making tool it actually is. We also delay seeking advice from a financial advisor. Stocks I own or am watching:
EWI, GE, ODP and others There are winners and losers that is why diversification is recommended.


Any way you look at it everyone needs multiple sources of income to live comfortably. Simple ideas to build multiple streams of money can be found here, here, here, and even here.