Why You Should Invest
Posted on | December 12, 2008 | No Comments
Why you should invest
Investing has become increasingly important over the years, as the future of social security benefits becomes unknown.
People want to insure their futures, and they know that if they are depending on Social Security benefits, and in some cases retirement plans, that they might be in for a rude awakening when they no longer have the capability to acquire a steady income. Investing is the answer to the unknowns of the future.
You might have been saving money in a low interest savings statement over the years. Now, you want to see that money grow at a faster pace. Perhaps you’ve inherited money or realized some other type of windfall, and you need a way to make that money grow. Again, investing is the answer.
Investing is also a way of attaining the things that you want, such as a new home, a college education for your children, or costly ‘toys.’ Of course, your financial goals will determine what type of investing you do.
If you want or need to make a lot of money fast, you would be more interested in higher risk investing, which will give you a larger return in a shorter amount of time. If you are saving for something in the far off future, such as retirement, you would want to make safer investments that grow over a longer period of time.
The overall purpose in investing is to create wealth and security, over a period of time. It is important to remember that you will not always be healthy to acquire an income… you will eventually want to retire.
You also can't count on the social security system to do what you anticipate it to do. As we have seen with Enron, you also can't necessarily depend on your company’s retirement plan either. So, again, investing is the key to insuring your own financial future, but you must make smart investments!
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