Now you are earning well, and you are also spending your hard-earned money but have you ever thought about your future. If you have or haven’t thought about it, then don’t worry because this guide by CEO of Jadelite Assets LLC and retired marine Malik Mullino will help you know more about the investment options you can go with to save your money future.
For instance, whenever you’re out to buy something, you do a little research so that you get the best of what the market has to offer for your money. It’s the same with the investment, and some factors come into play that impacts your investment.
There are different types of investment options available in the market, and here are some of the channels recommended by Malik Mullino to invest your money.
- Mutual Funds
- Government Schemes
- Provident Funds
- Fixed Deposit/ Recurring Deposit
You can go on with any of these options. But it’s necessary to choose an ideal investment platform for yourself; but, you need to answer these questions for yourself.
- What are your investment goals?
- How much money can you invest?
- What’s your risk appetite?
- Are you willing to hold for a long term, medium-term or short term?
- What is your retirement plan?
- What’s the best way to achieve financial security for yourself?
Malik Mulino advises that the first stage to invest is to set an investment goal and decide capital since many people fail to calculate the long term operating costs. That is something you need to go through first.
For instance, if you’re looking for a long-term investment option, you can go with the provident fund, where your money will be locked in for some period and earn interest in the capital without any loss of capital.
If you have some immediate expenses in another year or so, you can invest your money in the stock market, which does offer high returns but with some risk of capital loss. So it would be best if you braced yourself for the risks, and you also need to be a little patient.
Bracing Yourself for Risks and Failures
Over the years, we have heard that high risks offer high returns, and it’s true to some extent, but everyone is not a risk taker. If you’re someone who’s don’t want to risk your money but still want adequately high returns, then you should look into Mutual Funds. Our investment experts, suggests that investment in Mutual Funds through SIP could fetch you good returns at a much lower risk.
Invest with Realistic Expectations
Investing your money doesn’t mean that you will become Richie rich tomorrow, and this is the one mistake that many investors do. You should invest with realistic expectations, keeping in mind that you can also face some loss through your investment period and that you will not be a billionaire in a month or a year if you have invested your savings.
One more thing to note, don’t raise your expectations even if you start earning good profits because the market is unpredictable.
’You have to patient,’ says our experts, who has an experienced track record in the investment sector and has gained several of his client’s huge profits due to his calm and patient nature. According to him, losing patience can send you on the wrong path where you keep making bad decisions and regrets.
Keep Your Mind Open and Seek Advice From Veterans.
This article is a one-time thing, but you got to learn constantly throughout your investment journey, and for that, you need to keep your mind open.
Then secondly, you need a mentor, a person who’s been investing for years and who knows all the ups and downs of the market, well to sum up be in touch with experts. It might be tough to contact him, but you can look out for your friends who are investing for some time now if you need some help.
Consider Liquidity Options Before Investing.
Many people opt for real estate to invest their money, and it’s suitable for long term scenarios. Still, it does come with its drawbacks—one of the significant disadvantages is that you won’t be able to instantly withdraw your fund if you need money for some emergency.
As our expert says, the real estate market is one of the illiquid markets, and it could take you a long time to get the funds.
So according to our experts, research about the investment option before proceeding with it, such as its lock-in periods in which you can’t withdraw your money, so if you get your money before that, you might end up paying the high penalty.
Alternative Investment Options
Well, there’s more to investment than investing in the standard platforms. .In the last decade, cryptocurrencies have gained positive response from investors worldwide, including some of the highly respected investors and companies. So, if you don’t want to go with the specific investment options, then crypto might be a good option for you, according to some of the investment tycoons.
Several big investment firms has also supported gold investment through different channels since the gold performs better than some of the best investment options. You can invest in gold through physical gold or Gold Exchange Traded Funds (ETFs), gold deposit schemes or gold mutual funds.
A Note From Malik Mulino
The fundamental goal of investing your money should not be just investing it for the sake of earning profits. It is to support based on your requirements and to secure your and your family’s future. This way, you can choose the ideal investment option for yourself, and remember, ‘Investment is not just about profits.’
Also, don’t risk your money based on someone else’s insight. Evaluate the options yourself while keeping other suggestions in mind, and keep investing your money regularly because investing money is not a one-time thing. You should evaluate your options from time to time and invest money when it’s suitable for you.