If you are young and have a
stable career, then you should look
at starting to save for your retirement (if you haven’t started already).
Remember, the sooner you start, the bigger your retirement fund will be. Heck!
You may even be able to retire much earlier too. Imagine playing golf or
relaxing by your beach house on a weekday by the time you are 45, or even 50.
No more Monday blues or rush hour traffic. Sounds great, doesn’t it? It is
possible, provided you start building up your retirement fund early, and build
it right.
We all know that the economy
doesn’t look good right now, but the depression isn’t going to last forever.
The stock
market’s volatility has eroded many a retirement funds, and don’t seem to
be recovering any time soon. But, there are other avenues where you can invest
to beat the volatility of the stock market or the low returns on cash deposits,
not to mention the ever growing inflation. For instance if we take the annual
inflation rate at 4% (an average of the last few decades), then a fund of $1
million after 30 years will be roughly equivalent to $300,000 in today’s value.
So do the math and figure out how fat your retirement fund should be to live on
comfortably after you stop working.
Adam Ginsberg, a highly successful
entrepreneur and wealth-building coach, recommends two key areas to invest inthat can boost up your retirement fund beyond the cost of inflation.
1. Gold
That’s right! The good ol’ shiny,
yellow metal. Gold prices have beaten the economic downturn, the crashing stock
markets, the economic depression, and have risen the most in the past decade.
Gold has always been a practical investment for the pragmatic citizen. The
rising inflation and the eroding value of paper money have had little effect on
the value of this precious metal. Adam Ginsberg strongly recommends including
this commodity in your retirement nest egg. Now, you could buy gold in a variety
of ways too. The most common is to buy this metal in the physical form of
bullion bars or coins. But remember when buying physical gold that while
bullion bars are available at prevailing market prices, coins, on the other
hand, are priced at perceived collector value. The second option is to invest
in Gold ETFs (exchange traded funds), which too are traded at the prevailing
market rates. This way you do not have to take physical possession of gold but
instead get fund certificates, which are easy to store and faster to liquidate.
2. Real Estate
If “are you kidding me?” is the
thought in your mind right now, read on and you’ll know why Adam Ginsberg
recommends investing in real estate. Sure, real estate has probably felt the
worst brunt of the economic crash in the last few years, which is exactly why
it makes such a lucrative investment option. Home prices are probably at their
lowest right now and so are mortgage interest rates. So, go ahead and buy
yourself a home. Take out a mortgage on it and pay it off. Over years the
demand for real estate will grow, because the population will grow and the
economy must grow, so the prices will grow. Secondly, once you’ve paid off your
mortgage, redirect your mortgage installments to more traditional retirement
savings. Third, once you retire you can consider selling off your current home
and buy yourself something smaller, which could possibly get you some extra
cash to spend in your retirement years.
While these investment options come highly
recommended by Adam Ginsberg, you should do your own research before you decide
to put your money into them. And, if you come across some more lucrative areas
to put your retirement money into, we’d love to hear about them.
Adam Ginsberg helps people to become financially independent
with his resources like eBay auction templates, eBay software and other eBay
tools. If you want to know more about his resources you can visit Secrets of an
Auction Millionaire, Success with Adam or even Adam’s main website. You can also listen to some
testimonials from his satisfied customers.
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