NOTE: This is a part of a new series of articles about money and stress, which has been a big concern for readers here. For more help on the subject of bringing more money into your life, using the Law of Attraction and EFT, read 10-Day Money Makeover.
During a period of economic instability, it’s hard to know where you should keep your money. And when you lose your hard-earned dollars on unsafe investments, your stress levels can soar. But you can find ways to invest, even in today’s world, that will keep your money safe and still offer you the chance to grow your wealth.
The stock market can be stressful. It moves up and down – sometimes at an alarming rate. So the stock market isn’t the place to put money that you want to use in the next few years. If you’re close to retirement age, it’s not the best way to secure your future. Instead, you should only invest in the stock market if you’re in for the long haul.
In the stock market, there’s always going to be a rebound at some point. If you’re investing for 20 years, you can be sure that at some point the market will improve and you’ll get a return on your money. However, you’ll need to carefully manage your money in the stock market. You’ll also need to diversify your investments to that you don’t only invest in the stock market.
Money market accounts offer a way to diversify your involvement in the stock market. They’re managed by financial experts who know which stocks to keep and which ones to let go. You don’t have to invest as much money – you can invest as little as $25 a month – and you begin to build wealth. But even money market accounts will take a hit in a stock market crash.
More stable investments include bonds and CDs. They don’t yield as high of a rate of return. You may not make as much money from your principle investment as you would in a stock market trade. However, these can alleviate stress because you have a guaranteed interest rate and return on your investment.
They key to building wealth without creating stress is to put your money in a variety of investments. This will mean that you don’t count on one source of income to build wealth and that if the stock market tumbles, you haven’t lost everything. Some of the greatest stress comes from putting all your eggs in one basket and having nothing when one stock falls.
You’re never too young to invest. If you have a little extra to invest, now is the time. You can purchase stock at rock bottom prices. And if you can stick with it for the long haul, you have the potential of making a lot of money. However, if you’re close to retirement it’s time to put your money in a more stable investment. You want to make sure you keep your money safe for your future.