Other generations have a bad notion on millenials when it comes to investing because they have observed that we’d rather trade long-term profit for expensive coffee, but who can blame us when we live in such a fast-paced world with perpetual demands?
As financial institutions notice the shift in the demand for people’s time, they have created greater investing opportunities which will require less effort to monitor. In fact, the US Bureau of Labor Statistics indicated that there will be an increase of demand for financial advisors by 15% until 2026. One detrimental factor could be millennials’ coming of age, and their realization of the importance of financial stability. As we all have different goals, it is still best to hire a financial advisor to help you determine the best type of investment for your goals and answer any finance-related questions.
What is the best low maintenance investment, you say? It is none other than the…
The stock market is where people buy and sell shares of a corporation. It is the majority’s go-to investment because your initial capital can instantly grow, as long as you invest early and regularly.
If you’re looking for investment opportunities in Asia, a stock market investment in the Philippines may be best for you. According to a local source, the top performing corporations with their gained percentage in 2018 are: Golden Bria Holdings (1,377%), Greenergy Holdings, Inc. (446%), and ISM Communications Corp. (339%).
Having your own online business or small business can be a step further once you’ve mastered the stock market because it requires more attention to detail since you’ll be dealing with customers and needing to come up with fresh ideas all the time. Unlike the stock market which will be monitored not just by you, but also by an expert. With the help of an advisor, you can guarantee a swift and hassle-free process flow.
Therefore, the stock market is not just for everyone, but also for burnt out millennials who just want their coffee in peace.
Tips for the Young Investor
Be financially literate
If this is your first foray into investing, you should read up on the basics on investing. There are online classes like those on Khan Academy which you can watch (for free) so you can get better educated with investing and stocks. Remember that investing is mostly knowing where to put your money in and when to take it out, not the amount of money you have on hand.
Don’t be afraid of risks
As cliche as it may sounds, investing really isn’t for the faint of heart. Anyone who wants to earn significantly from investing must be in it for the long-term. Just make sure to study the market and make sure you’ve done research on your investment prospects.
Control your fees
Every transaction you make incurs administrative fees. This is because there are people who look at and analyse the trends to ensure that the money you’ve put in gets significant returns. You can reduce these costs by limiting unnecessary transactions. Diversify your portfolio, yes, but make sure you’re not making non-essential trades.]
The millennial generation need to have a steady of flow of income and a means to grow their savings. Investing in stocks is one of the best ways to do it, all that is needed is a good stock broker to partner with you and a good investing know-how.