No matter your age at this moment, you are an architect of tomorrows economic prosperity. Shaping and planning it for yourself and for the country. One of several blueprints to achieving financial well-being is through making investments. The journey of investing starts with acquiring knowledge about investing.
How long you intend to invest and what the goal is. Several published articles by Old Mutual and direct links to First National Bank (FNB) can provide some insights on how to make yourself knowledgeable. While you are young and starting your journey to receiving an income, start thinking about where you want to be in a few years’ time.
Investing Time
Does the place you see yourself in require money and planning? If so, get to it! According to an Old Mutual article titled Understanding Investments as a Young Professional, Mignon du Preez says, “There are many things to consider when investing, but one of the most important is your time horizon.
This refers to how long you are willing to invest. If you are young and just starting out in your career, you have a longer time horizon than someone who is closer to retirement. This is important to keep in mind because it will have an impact on the types of investments you make,” she says.
Types of Investments
With different Invesment options ranging from Unit trusts to Max investments comes different risk and rewards. “For example, stocks and shares can offer the potential for high returns, but they are also subject to market fluctuation. Property can be a more stable investment, but it is also more expensive. The key is to find the right balance of risk and reward for you.” says du Preez.
Take Action
“It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.”
Robert Kiyosaki
It’s simple to start taking action once you decide to invest and grow your money. Various banks, including FNB, provide easy to follow steps for your journey.
Whether it’s saving for short-term goals or investing for the future, the key lies in making informed decisions aligned with one’s financial goal and risk tolerance. By embracing a culture of financial literacy and prudence, we, as the Namibian youth, can unlock a future of prosperity and abundance.
