Monday , 1 May 2017
How to be Smart About Investments

How to be Smart About Investments

Whether retirement is on the horizon or in the distant future, you should be looking forward to it with delight rather than dread. Some of that dread likely comes from not knowing if you’ll have enough money for a comfortable retirement. It’s important to be smart about making investments that will see you through your golden years. After all, it’s never too late to start making money and have a plan.

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Maximum 401(k) Contributions

A 401(k) is a tried and true method of building up your retirement fund. When you boost your contributions to the maximum limit and couple that with employer matches, you’re even better off. You should look to save about 10 percent of your salary, but if you can’t afford that, anything is better than nothing. If you sock away just $300 a month from the age of 25 at a rate of eight percent, you could theoretically have $1 million at retirement, according to US News and World Report. If you wait just 10 years to save that same amount, you’ll only have less than half that, $440,000 by age 65.

Rake in Money on the Side

Sure, you may have a regular 9 to 5 job, but no one’s saying you can’t make money on the side to put into a nest egg. Putting what you make into a retirement account is a great way to pad your income and save for a rainy day.Monetize your ads on YouTube by posting them with your video to highlight an ideal revenue opportunity. This is basically passive income. Check how it works here. Similarly, you could start up a blog and join an affiliate program to earn monthly residual income. Companies like http://www.cj.com/&http://www.avangate.com/affiliates/ have 10,000+ programs you can resell for. Or, check out UserTesting to make about $10 for 20 minutes of work. Not bad! Drive an Uber or Lyft car, sell crafts in Etsy or become a consultant.

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Allocate your Assets

Asset allocation is a good part of any investment portfolio. You’ll need to have a healthy balance of the three main investment markets: stocks, bonds, and cash. Allocating your assets means you can cut your downside risk while earning portfolio growth you need to make a profit later, points out The Motely Fool. Look to your stock broker or financial planner to help you achieve just the right balance, contributing a certain percentage to each depending on what you plan to do with the money and how far away you are from retirement.Revisit your investments on a regular basis to ensure they’re still meeting your needs. Change as needed. Keep the name of an investment securities lawyer around who can help you if your broker mishandles your accounts.

To ensure the most profitable result possible, be smart in your investments. Thomas Law Group has experience in recovering losses for investors, helping thousands of people recover on stock fraud cases.

About Paul Petersen

jess@robingupta.com'
Paul Petersen is an author, blogger and writer. He has worked with many publications and writes across a number of niches for many websites and blogs.

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