Investing – practical solution to most of your financial woes!
Why should I invest? This is definitely a question that has crossed your mind several times. This is especially true during this difficult financial time when one is required to think outside the box to increase their income. You’ve probably heard of firms like Questrade and Wealthsimple(which by the way, here is a outstanding Wealthsimple review) but what exactly do they offer? They may in fact be the answer to your current financial woes.
Today’s expenses are definitely problematic and range from bills, fuel costs, college fees, clothing, food, owning your own home and even the taxes we pay to the government. The solution for this difficult period is investing but prior to going ahead and starting an investment, understanding the reasons for investing and possible gains that one may accrue due to their investment is very critical.
When it comes to investing two critical components have to be seriously kept in mind. The two are risk and reward. You risk your capital when you invest and the risk should pay off by getting you worthwhile returns.
Everyone can invest be it someone unemployed or even those who are employed. However, the trick is usually to find an investment that works for you. There are many reasons why one should invest and here are some of the leading reasons.
1) Grow your money.
Growth is something that most people use to measure success and financial growth should be no different. The right investments offer an excellent opportunity for one to grow their net worth. Investments offer returns in form of profits which increase your net worth. Financial growth help you pay down bills, decrease credit card debt, or even work towards an early retirement.
2. Meet your financial goals.
Quite the majority of people have goals in life and these goals require money so that we can achieve them. These goals may be owning a home, buying your own car, going on that family vacation or even starting a certain business venture. We may lack enough funds to meet these objectives and investing can be an excellent way of meeting your financial goals and achieving your dream.
3. Utilize your time constructively.
The prospect of not doing anything in life definitely scares the majority of us. You may be sitting at home on your days off and get bored! Investing offers a potentially satisfactory alternative for these times. Investing will take quite a considerable chunk of your time hence it will keep you busy. Unlike a lot of other activities one may engage in, investing will have an excellent result in the form of gains. Your boredom could pay you money! After all an idle mind is the devil’s workshop!
4. Helping others.
It is an intrinsic need for human beings to help other people. Investing offers such an excellent opportunity for you to help other people. People may benefit through employment or through the goods and services offered by your investment.
5. Secure your future.
Sadly in life anything can happen and your tomorrow can change in a split second. Retrenchment is something that happens quite frequently and you never know when the axe will fall on you. Retirement may also come leaving you in financial turmoil. Similarly, a tragedy that you had not even accounted for is possible and can leave you in trouble. Therefore, there is a need to get ahead of any eventuality and prepare yourself today so that you can have a bright tomorrow. Investing is one such necessity. You need to invest today so that you can secure your tomorrow. Investment ensures fixed, regular returns which can form a basis of having a bright tomorrow.
Investing is something that anyone looking to progress in life should really take part in. The returns one may gain is immeasurable and the benefits that you can accrue are definitely worthwhile. For a better life today and tomorrow you ought to invest now!