Investing in my future is a critical aspect that I should look into to ensure financial security. The money that will be generated from my investments will ensure that I continue receiving income in the foreseeable future. The increased financial literacy in class will play a vital role in coming up with the three various ways of investing for my future. Information is critical in coming up with financial sound decisions (Chang et al., 2018). The three ways that I find ideal in investing for my future includes setting an investment retirement account, investment bonds and via the stock market.
Three Ways I will invest in My Future
The set three financial ways will be vital in financing for the future. With the set ways, then it will become easier for one to be financially stable. In using the investment retirement account, one gets to gain cash that would have compounded over time. This means that the saved money would have accrued income over time, and this being an asset in the future. The investments earned annually by the investment plan, thus assures one of financial security.
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By investing in bonds, one is assured of returns over a long period. The security that is associated with bonds also makes it less risky as the money comes from the government in most of the cases. Investing in bonds is a financially sound decision that will ensure one cash as income for a while. Lastly, investing in the stock market is another option that can be explored. Investing in stock markets generally ensure that one gets a proportion of a company and be part of the shareholders (Thapa, 2018). As a shareholder one accrues dividends yearly depending on the revenues of the company. It is thus critical to have an adequate market study before choosing a company that one can buy its shares from.
My Confidence Concerning Investing in My Future-80
The most certain way of investing for my future is via the stock market. With the ever-rising number of companies in the stock market, with the right investment, then one is in a better position to be financially sound. With investments in companies such the artificial intelligence with rational analysis, then I believe that my future will be better placed. Thus, investing in the stock market is the option that I feel most confident with and the best option that I should explore.
Challenges with Investing in My Future
The method that seems most challenging is that of using the investment retirement account. With no certainty on the future in aspects such as inflation, the true worth of cash cannot be calculated (Ivashina & Lerner, 2019). Saving for a long time also seems a tiresome task compared to the other two measures of investments that seem to have an immediate impact on income. Setting up the right amount of savings may also be a big challenge. The solutions from the problems of investing in the future are getting a financial adviser. With the business professional, it will become easier to set a plan and understand the various amounts of cash deposits that will make the plan a success.
Conclusion
In conclusion, investing in the future is a critical aspect of financing. Without proper measures, then one will be in apposition of not being financially sound. It is thus essential for every individual to invest in the future to ensure that one is financially stable. Without financial sound measures, then one will find himself in a compromising situation. Investing in the future is thus key to preventing unforeseeable financial disasters.
References
Chang, E., Nauss, N., Rui, E., Sutter, S., & Yao, L. (2018). Investing in the Future: Improving Financial Literacy among Students in UBC.
Ivashina, V., & Lerner, J. (2019). Patient Capital: The Challenges and Promises of Long-Term Investing . Princeton University Press.
Thapa, B. (2018). The Importance of Basic Education about Stock Investment and Trading for Undergraduate Students.
