I have written about the importance of Savings a lot on the blog. You never know when a rainy day comes along. When it does, you gotta be ready to face it. Specially a pandemic like COVID 19 can really put a halt to our financial plans and life in general. Unpredictability and uncertainty seems to be looming in every corner and it isn’t a good feeling if you do not have a back up plan set up. So I think this is a good time to look into various investment options. In light of unprecedented times we live in recent months, I have taken the liberty to put together a list of 5 wise investments you can start anytime.
5 Wise Investments for Women
If you are looking to begin investing or find a way to make the money you have grow and stretch more than what it is now, then it’s a good idea to learn what you can about investing. But since there are so many different investing options out there, it can be overwhelming and confusing to know what will be best for you.
While no one can tell you what the best option is without knowing you and details about your finances, here are some general guidelines of wise investments for women.
The first and most important investment you could have is in your own life insurance and also life insurance in your spouse and children. It’s not something that most people want to think about but it is very important that you plan ahead for tragedies. Life insurance is an essential investment for your future security.
Another option that many women enjoy is investing in real estate. If you choose real estate, however, it’s important to know all the facts before going in and also to make a determination about the type of real estate investing you want to do. Some people like to do what is called “house flipping” where you buy low and sell quickly, without holding onto the property for very long. Many people do this by purchasing bank foreclosed homes. To invest in real estate comfortably, you’re going to want a pretty good sum of money that you can afford to play around with. You will also need to put the time into learning all that you can about real estate and getting help if you need it.
Another option of investments for women is mutual funds. Sometimes women worry that they won’t know how to invest correctly or that investing is a “man’s thing” but this isn’t the case. And mutual funds are actually a good option for even the inexperienced investor. But it’s important to learn about the types of funds and important terms.
If you want more of a hands-on or direct investment choice, you might choose to invest in a small business or franchise. You don’t have to work at it yourself but you would be in charge of everything that happens at and with the business. This will require more work than the other investment options unless you have the money to just invest in the business and hire someone to manage it for you. But this is a good option for a woman who is retired or a stay at home mom with empty nesters who wants something she can spend her time on as well.
It is always a good investment to hire an accountant or advisor to help you manage what money and assets you have, and also to help you with any future investments you are interested in. Hiring an expert you trust to help you along the way is really the best investment you can make.
I hope that you were able to take away some info or piece of advice by reading this post. One thing you have to remember is that there is no right time to start investing or saving. But it will be a shame if you never even begin the journey.
Good luck friends.