Youth as Coleridge puts it is a "beautiful conceit" with its promises of "friendship, love and liberty" but wise is the person who can foresee the bitter cold days of old age where you are going to need money the most.
It is very important to plan your future in such a way that retirement does not remain a dreaded entity. But try to transform it into the most anticipated time of your life where you can enjoy a life which is devoid of personal and professional responsibilities.
This article would discuss some ideas that will help you in a peaceful and worthwhile retirement.
Stock Exchange. Risky as it sounds but it definitely provides great opportunities for long term investment. The early you start the better it is. Start your retirement plan right now by setting up a separate account. Keep contributing slowly but steadily. Persistence is the key for retirement plans. Try to buy steady stocks with consistent history and stability and resist the temptation of cashing them. Taxable incomes yields more interest so try to target tax yielding investments be it stocks, bonds, etc. Try to build your portfolio in businesses generating life long persistence of income. It could be services or any other domain.Investment schemes. Banks offer long term investment schemes with diverse options and plans. You can get a portion of your income and get it fixed for a certain period of time. The longer it stays the greater benefits it will yield.
Insurance. Insurance is another great retirement plan. It offers the additional benefits of security in case of emergency. It is a proven and smooth method of investment.
Real estate. Real estate is also a viable option for your retirement plan. The best thing about real estate is its concrete and palpable nature in comparison to the elusive nature of stocks or other investment. You can always visit and have a view of your investment which will definitely give you a good boost.
Gold.The good old gold has survived the test of time and proved to be a good retirement plan. Gold has the attributes of stability and steadiness which is the most sought after investment qualities. You have the option of buying gold stocks or gold bars. Gold stocks are the preferred investment choice in the modern times. It has the great track record of resisting the bearish times.
Invest in the domain of your interest. For long term investment or retirement plans you should always target the areas of your interest. If it is something you are really interested in, then it would get easier for you to follow your investment vehemently without getting tired of it.
Finally to wrap it up I must advice you to chalk out retirement plan as early as possible. It is the best way of transforming your retirement into the best part of your life. This long term investment will definitely help you in actually enjoying the depressing time of retirement.
Angel Clark is a passionate writer who writes mainly on investment and personal finance related topics aiming to help others. His contents help people to decide which investment is the best and which is not.
Clark personally believes that Gold is the ultimate source for almost every investment. http://www.geopulseinc.com/contact.php
No comments:
Post a Comment