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Investing and millennials! If you were born between the early 1980s and late 1990s, you’re Millennials.
Do you know you’re millennial?
If you were born between the early 1980s and late 1990s, you’re.
And I’m sure odds are you aren’t investing your money in the stock market.
According to a recent study, 79% of your generation isn’t handing over hard-earned cash to Wall Street, 76 % of millennial women found investing confusing, 60 % believe the typical investor is an old, white man, almost half of millennial men agreed.
As a member of this generation, you’ve seen investors losing their money during market crashes.
It can be unsettling. It can also be discouraging to start investing if you’re uninformed about how to get started.
Before you begin investing, you should arm yourself with knowledge of what you can do, how to get started, and how much money you could earn with a long-term investment.
There are some tips.
You need to pay off what you owe. Contrary, the interest you’re paying out will eat greedily the interest you make on your investments.
Pay the minimum on your lowest-interest cards and sink your money into the card with the highest interest and get it paid off, that is always a good plan. After that work down the line until they’re all cleared.
It’s a good idea to keep an emergency fund, but a savings account isn’t doing much for you. The profits you earn by keeping your money in a savings account is minimal, generally speaking.
The advantage of being a millennial is that you’re young and you can make a risky investment because if it all comes crashing down, you’ll have enough time to aim your financial goals.
Those big risks in stocks can also eventually make you a lot of money in dividends. And you can continue to invest and make more money. A beautiful thing indeed. When you get older, it will become harder to explain to yourselves a big risk, because you will need that money for your retirements.
One-third of millennials surveyed say that $1,000 is needed to start investing, which isn’t true.
You can start with only $5.
Of course, you won’t make a fortune with micro-investing! You have to choose the companies you invest in, I won’t suggest which one. It’s up to you!
Anyone who wants to start investing must learn everything possible about investment.
You can start with some websites that are chock-full of investment information. You will feel more comfortable with the ins and outs of trading, and you can download an app with stock news and read news related to your own investments. Or you can easily and free of charge open some demo account.
You have many options for investment and maybe it’s time to start investing in your future.
Don’t let your money sit in the bank while inflation rates rise. You have to make your money work for you. If you take the risks now, you’ll get the most return on your investment, so you can retire later.
With peace in your mind.