5 Things which Millennials Should Invest In
Updated: Dec 10, 2020
The world is your oyster. Whatever does this mean exclaims a friend. This old phrase came from Shakespeare and is often said to young people as they embark on in life. It simply means that you are in the position to take opportunities of what life has to offer. In many ways, this is true as the internet has given knowledge and opportunities which the previous generations did not have.
There is only 9 weeks left to the end of 2020. There is no better time than to position yourself in a way to take advantage of your opportunities. Here are 5 things which millennials should invest in.
1) Investing itself: Millennials spend quite a bit. It makes complete sense (or cents) to then invest in funds which has companies that produces goods or services for millennials. An example could be sporting goods companies such as Adidas or Li Ning. A focus on technology is important because the young people grew up with mobile phones and computer thus making Apple important to be in the fund chosen too. Other companies such as Nvidia which designs graphics processing units for gaming and entertainment as well as Netflix, which gives great entertainment especially during the difficult pandemic should form the top 10 holdings of the millennial fund.
2) Focus on long term: It is wise to focus on investing for long term because investments are not normally a straight line up. To get a profitable gain, a longer term focus works in your favour as companies and funds takes time to grow.
3) A good advisor: Investing can be daunting and if you have neither the time nor the inclination to do the weeks and months of research to decide on what to invest in, consider talking to a financial advisor. A good one can help you invest your money safely and securely. He or she can be a great guide to personal finance which is the secret to how people make and keep money over the long term.
4) An emergency fund: You are the most important person there is in your life. No one will take care of you better than yourself. Start by creating an emergency fund so that you have a safety net should you lose your job or have to quit your job to take care of a loved one. This is so crucial to a prudent financial life. Build that emergency fund right away. Start saving and begin a lifetime of savings so that being financially free becomes a walk in the park instead of a distant dream.
5) Yourself: You are the captain of your own ship, never mind you will likely never get to steer a real ship, but you get my meaning. Invest in yourself, your physical health, financial health, mental health, your skillsets, your relationships. All these will yield much fruit in the later years.
We at FinAIMS would be glad to work alongside your financial journey. Whether it is in investing or creating an emergency fund or your financial health, we aim to be good advisors to you.
Contact us for a 30 mins chat.
Talk to us at +60 13-325 7653.
ACT NOW OWN TOMORROW!