Smart Investments Everyone Can Make in 2019 may intrigue you and help you to finally make a difference to your financial future. You have wisely decided that 2019 is the year you get serious about investing money to safeguard your financial future and maybe even build a little wealth. But here it is, almost halfway through the year and well… you haven’t quite got around to doing much yet.
The good news is that it’s not too late and getting started does not even have to be that hard. Here is a look at some of the best – and smartest – investment moves you can still consider making in 2019.
Smart Investments Everyone Can Make in 2019
Make Sure Your Rainy Day Fund is Sufficient
Do you have a rainy day fund? A stack of cash that every financial expert IN THE WORLD will tell you that you need to see you through a short-term emergency and help you avoid taking out high-interest loans – or maxing out high-interest credit cards – in an attempt to stay afloat.
If you answered no, then unfortunately you are not alone. It is estimated that almost 40% of South African adults are in the same boat. But to secure your financial future before you invest a penny you need to ensure that you have such a fund and that it is enough to cover, for example, three months of lost income.
This money is cash you should keep as far ‘out of sight’ as possible. Squirrel it away in an interest-bearing savings account and then pretend it does not exist.
The biggest reason people don’t have such a fund is that they don’t quite see how they can afford to create one. However, most find that if they sit down and make a realistic accounting of the ways they are currently spending their hard earned cash there are plenty of corners that can be cut relatively painlessly.
Not good at budgeting? Try the 50/20/30 rule. It’s a concept the American Senator Elizabeth Warren – who is also an investment expert popularized – and it revolves around dividing your income into three amounts; 50% for living expenses, 20% for saving and investing and 30% for personal expenses (AKA fun stuff) It’s a system that has worked for a lot of people – especially younger ones – as it is not as harsh as some other budgeting plans.
Smart Investments Everyone Can Make in 2019
Invest in a Tax-Advantaged Retirement Plan
If you end up only making one real investment move in 2019, this is the one you should make. No matter how old you are.
Doing so is easier than ever. The government is more than aware of the fact that far too many South Africans are currently very poorly prepared for retirement, and so over the last few years they have made it possible for people of all income levels and of all ages to take advantage of some great tax-advantaged retirement plans that can help them enjoy a financially secure retirement we all want.
Smart Investments Everyone Can Make in 2019
Try the Stock Market
That 20% figure in Senator Warren’s budget plan is not set in stone. Why not swap things around a little and take as little as 4-5% from your 30% personal expense category and try your hand at real stock market investing?
Contrary to what you might think, you do not need to be a high flier or a James Bond type to invest in stocks. Yes, investing in the stock market is somewhat riskier than bonds and traditional retirement savings, but they offer a higher potential ROI and if you are only making use of money that you might have otherwise used to go to dinner, or on a second holiday, if you lose some of it it won’t be the end of the world.Should you need further help with investing simply fill in the form and one of our professional financial advisors will set your financial future onto a healthy and rewarding path.
Contact a Sweidan and Co Broker
If this is something that sounds interesting – and maybe even a bit exciting – to you the best advice we can offer is to make an appointment to speak with a financial advisor. They are just the right people to help you understand the basics of investing and get you started in the best way possible.
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