4 Best Investments for Millennials
Those born between the 1980's and early 2000's are millennials. Baby boomers and Generation X'ers may think of them as lazy and entitled. But this couldn't be further from the truth.
It actually turns out that millennials are really good with money. Perhaps crippling student loan debt or fears of another recession have made way for this.
Whatever the reason, millennials are the future linchpins of society. So, what they choose to invest in today will make for better and brighter futures in years to come.
Which are the 5 best investments for millennials? If you're a millennial, read on to find out!
There are many reasons why 66% of millennials haven't invested in retirement yet.
Many find themselves forced into paying off their student debt well into their 30's. Others weren't able to afford college until years after high school. Some want to venture with their money elsewhere, while others have families to take care of first.
At any rate, every millennial should think about retirement. With the right planning, it's not hard to start saving for retirement.
2. Real Estate
Each year, rent prices keep creeping up in cities all across the United States. Because of this, younger people are choosing to buy houses.
Why does this matter, and why is real estate one of the best investments for millennials?
Aside from being able to say, "I'm a homeowner", there are several reasons why you should invest in real estate. For one thing, you can build equity and save more for retirement.
Plus, if your home increases in value, you can profit if you decide to sell someday.
Millennials were young adults, teenagers, or children when the housing market crashed in 2008. As a result of this, this demographic is widely skeptical of the stock market a decade on.
But technology has led to a surge in new and innovative companies. Not to mention, we're living in the age of startup companies (which are in abundance all over the world).
What are the advantages of investing in stocks?
Of course, the most obvious are monetary gains. When you invest in stocks, you can watch that money grow.
Some stocks come in the form of dividends, which investors can receive annually. Plus, by investing in stocks, you can build your financial portfolio.
4. Side Business
For most millennials, the field they study in college is what they'll pursue early on in their career. A 40-hour work week doesn't leave much room to pursue other passions. But millennials can - and are already - investing in small businesses.
In the beginning, it may seem time-consuming and not so lucrative. It is, however, a sure way to broaden your portfolio and gain valuable business experience.
Who knows? A side business could eventually turn into full-blown entrepreneurship someday!
Know the Best Investments for Millennials
Millennials get a bad rap all across the United States. Contrary to popular belief, however, their future has never looked so promising!
If you're a millennial, now is the time to start thinking towards the future. By investing your money where it counts, you can be a part of your generation's prominence.
Here at OK Calculator, we have the resources to help you make smarter decisions with your money.