4 Low Risk Investments You Did Not Know
If you are looking for ways to find investments that yield high returns and yet do not cost as much, this article is right for your reading. Many people do not realize the importance of these principles that will be discussed. The common misconception is that you need to buy what other people are investing. At the same time, following-the-herd mentality will not help much. This is especially true in a world where we live in today, where times are changing fast.
Clear your debts once and for all
Why is this considered an investment? This is because if you are paying as high as 10 to 30 percent of interest annually for an outstanding balance (credit card or loans), you are simply shooting yourself in the foot. Make sure to settle them before even thinking of other investments forms.
What if you are left with a certain amount of money in your bank? Worse, you could be relying only on this supply of money for your daily living expenses. This amount of money is called your emergency funds. You should only use this emergency fund if and only if you have another source of cash you can use. An example of this extra source of money is “loans” that you get from friends and family. Another method is to borrow against your retirement account balance.
You should exercise and eat healthily
Again, this is an investment for yourself. Taking appropriate rests is important to recharge the body for more productive work. You might think this is a small and trivial effort, but think again. Aren’t health, wealth and relationship are considered the 3 pillars of happiness? If one falls, the happiness structure will fail.
Friends and family are your investments, too
Why is that? At times of peril, they are the ones that will turn out to be your greatest support. For example, you could always borrow a quick cash (which is not too much) to save yourself from a short-term financial problem. Do not they say success come with the connection you make in life?
You should also invest into yourself and your career
You can read up on self-help books. Take speech and writing classes. Do whatever it takes to make you a better-skilled individual. Your net worth will increase greatly along the years. In this case, you will be earning higher salaries, given your qualifications that you possess.