When is the best time to start your investment portfolio? You would normally say certainly not now, I can’t afford to. The answer is that you can’t afford not to try. When you decide to start an investment portfolio, remember that slow and steady wins the race. Put a small percentage in individual stocks until you learn more about the market and when you see how quickly your returns will grow.
As you learn to become more proficient as an investor, you will begin to see how your financial investments will yield greater returns. Naturally, this means that you should invest in mutual funds, bonds, exchange-traded funds, and stocks like bank stocks. Bank stocks pay some of the best dividends on the market. The banking industry is a great way to build up your equity and to stabilize your future retirement portfolio.
You must do your research before you begin to invest in the market, just as you would research in buying a car. This includes understanding the lingo of the stock market, like phrases about margins, options, shorts, market/limit orders and more. Don’t worry, you will soon learn what works best for you because it is easier to see your results when you actively delve into the market. Researching stocks and investments is all about learning how to read financial statements of the businesses that you are investing in.
You can also invest in yourself. Turn a hobby or an inventive idea into an enterprising business. A good first step is to connect with a mentor. You should connect with someone who has been successful in your field of interest. You can learn from these individuals who have been there where you are beginning and who have made their business successful. Below are seven careers for 2020 that should yield and help build better wealth for your future.
1. Smart Technician
Automated technology for smart buildings is on the rise. Automatic control of systems involving lighting, heating, air conditioning, and security will need trained individuals to install, maintain, and repair smart systems.
2. Tele-Healthcare Providers
Robotic communication technologies are here to stay and evolve. Healthcare specialists are currently using technology to allows physicians, nurses, and surgeons to remotely advise, diagnose, and perform remote operations with the assistance of robots.
3. Software Developer
Apps are used in every aspect of our lives. Software programs are used in every industry and they will require developing, maintaining, designing, and creating future software programs.
There will always be data and statistical strategies that will drive all types of businesses. People are needed who can take that data information and turn it into meaningful and valuable predictions. Statisticians research and develop the required numbers that will be applied mathematically to create a needed technique for companies to develop sound decisions, guide them in research, and help make succinct production decisions.
5. Home Health Aides
Home health nurses, certified nursing assistants, and personal care assistants will continue to rise as the elderly continue to rely on care in their own homes. The senior population has been doubling over the last 40 years. The CDC reports that this exponential expansion is due to the retirement of the baby boom generation and their longer life span.
6. Blockchain Developers
Blockchain developers trained in cryptocurrency will require a huge investment in development of talent and oversight. It is projected that blockchain developers will be in great demand in 2020. Though not fully understood, Bitcoin mining and infrastructure are still being used. For instance, Facebook is looking into instituting cryptocurrency spending and trading.
7. Drone Pilot
Drone technology is being used currently by nearly every industry. But to fly a legalized drone, you must obtain a “remote pilot certificate” from the FAA. Drone pilots are trained on flying specifications, operating requirements, regulations, and safety procedures.
Whether your investment portfolio is through the stock market or your investment growth is due to your own entrepreneurial business, it is time to make your hard-earned money work for you. When you are ready to start investing, factor this money into your existing budget so that investing just like budgeting for your needs will automatically be a part of your daily life.
As a future investor, remember that you can invest in products that will grow your returns. The standard investments include mutual funds, ETFs, bonds, and stocks. Additional investment earnings growth can include annuities, CDs, money market accounts, precious metals, real estate, and other investment tools.