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It's all about the money

Start saving and investing as soon as you can.
By Joyce Roque |
<>It also makes sense that the older you get the less you should invest in the volatile stock market. How long can you wait for your money to grow?  For example, Biolena said he invested money for his one year old baby in the stock market because it can grow over time. In contrast, an employee planning to retire from the corporate life in three years cannot afford to risk his money losing its value in the stock market.

 

 

3.) Diversify

There is a saying that goes: don't let life teach you the lesson. Investing is not without its pitfalls but it is all part of the learning process. Biolena says when he was younger he made the mistake of aggresively investing all his money in the stock market because of the high returns during the bull market of 2006. Fortunately, it was a lesson that he learned and recovered from.  Spreading your risk by putting your money in different kinds of investment products can help you avoid those sleepless nights. 

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Most of all, the best thing you can do for your finances is to educate yourself. Read. Ask experts. Attend events. Make saving a portion of your salary per payday automatic - at least 10  percent is recommended- and investing won't be far behind.

It also makes sense that the older you get the less you should invest in the volatile stock market. How long can you wait for your money to grow?  For example, Biolena said he invested money for his one year old baby in the stock market because it can grow over time. In contrast, an employee planning to retire from the corporate life in three years cannot afford to risk his money losing its value in the stock market.

 

 

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