Investing has become increasingly important
over the years, as the future of social security benefits becomes unknown.
People want to insure their futures, and they
know that if they are depending on Social Security benefits, and in some cases
retirement plans, that they may be in for a rude awakening when they no longer
have the ability to earn a steady income. Investing is the answer to the
unknowns of the future.
You may have been saving money in a low
interest savings account over the years. Now, you want to see that money grow
at a faster pace. Perhaps you’ve inherited money or realized some other type of
windfall, and you need a way to make that money grow. Again, investing is the
answer.
Investing is also a way of attaining the
things that you want, such as a new home, a college education for your
children, or expensive ‘toys.’ Of course, your financial goals will determine
what type of investing you do.
If you want or need to make a lot of money
fast, you would be more interested in higher risk investing, which will give
you a larger return in a shorter amount of time. If you are saving for
something in the far off future, such as retirement, you would want to make
safer investments that grow over a longer period of time.
The overall purpose in investing is to create
wealth and security, over a period of time. It is important to remember that
you will not always be able to earn an income… you will eventually want to
retire.
You also cannot count on the social security
system to do what you expect it to do. As we have seen with Enron, you also
cannot necessarily depend on your company’s retirement plan either. So, again,
investing is the key to insuring your own financial future, but you must make
smart investments!
Labels: Campus Business
