Now that you\u2019re years away from hitting the big 3-0, you should start taking responsibility for your finances. Unfortunately, most of you didn\u2019t get the memo. A recent study revealed that only 21 percent of Filipino millennials are actively investing their money, 28 percent invest \u201cwhen they feel like it,\u201d and ten percent don\u2019t even save a single peso. There\u2019s no better time than now to start investing. To help you get started, here are some suggestions for investments young professionals can easily start today. \u00a0\u00a0<\/p>\n
There\u2019s a reason why mutual funds recently became a trend among young professionals. A mutual fund involves adding your investment to a unified fund, which will then be invested in stocks, market funds, and bonds. You can start investing at P5,000 and the mutual fund company regulated by the Securities and Exchange Commission will be in charge of growing your money for you. This makes mutual funds the ideal investment for beginners. Just be ready to lose some of your investments due to unpredictable market trends. \u00a0<\/p>\n
Similar to a mutual fund, a UITF also pools your investments into a huge fund. The only difference is that banks regulated by the Bangko Sentral ng Pilipinas are the ones in charge of managing your investments. Don\u2019t worry, professional fund managers will still take care of your money and if you wish to withdraw money from your fund, you\u2019ll easily get it in your bank account. Plus, you can even start with an initial investment of P1,000<\/a>. But just like mutual funds, prepare to take the risk of losing some of your investment.<\/p>\n If you don\u2019t mind spending time learning it, get yourself started with stock investments. Joining the stock market means you\u2019re buying stocks from a corporation, effectively making you one of its shareholders. You\u2019ll earn more when the corporation performs well but alternatively, you\u2019ll lose when they don\u2019t. This makes it a high-risk, high-reward investment since stock market prices are notoriously unpredictable. But don\u2019t get discouraged because you can easily start with a P5,000 investment and a basic knowledge of the stock market. \u00a0 \u00a0<\/p>\n Hit two birds with one stone when you invest in a variable universal life insurance plan. For as low as P2,000, you can insure yourself and your loved ones while also earning profits every month. What\u2019s great about a VUL insurance is its liquidity, in that you can access your funds after a specified amount of time. This can be helpful in surviving financial setbacks in the near future. Because of this, VULs are popular among millennials who are starting to take charge of their financial lives. \u00a0 \u00a0<\/p>\n If you\u2019re looking for an affordable investment and you don\u2019t like taking risks, you could try investing your money in government-regulated programs like the SSS PESO Fund and the Pag-IBIG MP2 Savings Program. For just under P500, you can have your own investment fund that doesn\u2019t require you to pay monthly and to pay on time. You can save at your own pace and there\u2019s an even a lower chance of losing all of your investment. Your dividends rely on the financial performance of SSS and Pag-IBIG, so expect inconsistent earnings. \u00a0 \u00a0\u00a0<\/p>\n Gone are the days when having a business requires huge capital. For as low as P1,000, you can invest in your own small business<\/a>. You can start small with a buy-and-sell business, or maybe spend a couple of bucks to buy a small franchise. You can even bet on your passion like baking pastries, sewing neat pillowcases, or making souvenirs, among others. It doesn\u2019t have to be grand, as long as it generates enough to add to your overall income. It\u2019s a great safety net in case you suddenly enter the unemployment pool; having your own small business would enable you to support yourself while you look for new job opportunities<\/a>.<\/p>\n No, this is not a joke entry. Think about it: what\u2019s the most important asset that you can invest in right here, right now? It\u2019s yourself, of course! It\u2019s time to improve the existing skills you have and learn new ones to help you grow professionally. Here are some great ways to invest in yourself.\u00a0<\/p>\n There\u2019s no such thing as being overprepared when it comes to planning for the future. Don\u2019t let your age hinder you from starting an investment right now. To increase your chances of high returns, don\u2019t put all your eggs in one basket. Diversify your investments so you can grow your money in multiple ways. Making smart investments, combined with simple steps to control your spending habits<\/a>, can reap rewards in the future. Once you hit 30 and you start contemplating about settling down, you\u2019d be glad you started investing and caring care of your finances in your early 20s.\u00a0<\/p>\n Author bio:\u00a0<\/p>\n Ricky Publico is a content writer at Moneymax<\/a>. Visit the website www.moneymax,ph<\/a> to know more about saving money on car insurance, credit cards, and loans.<\/p>\n<\/blockquote>\n Photo by rawpixel.com <\/strong><\/a>from Pexels<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Now that you\u2019re years away from hitting the big 3-0, you should start taking responsibility for your finances.…\n","protected":false},"author":11,"featured_media":525,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[],"class_list":{"0":"post-524","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-growth"},"yoast_head":"\n3. Stocks \u00a0 \u00a0<\/h2>\n
4. Variable Universal Life Insurance \u00a0 \u00a0<\/h2>\n
5. Pag-IBIG\/SSS Investment \u00a0 \u00a0<\/h2>\n
6. Small Business<\/h2>\n
7. Invest in Yourself!<\/h2>\n
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