If you want to have a secured and comfortable life once you reach the age where all that you need to do is rest, then you need to have investments and savings. This guide will help you learn about short term investment especially if you are a veteran.”
Your youth and strength is not forever. While you are still capable of doing the things that you can still do, you should know what your priorities are and you should know how to get them straight. For starters, you need to save up for your future. If you want to have a secured and comfortable life once you reach the age where all that you need to do is rest, then you need to have investments and savings. This still applies when you are already a veteran. You do not have to rely or depend on your monthly pressure just for you to get by. You also need to place some of your life savings on a business so you also have a stable source of income. If you are planning to invest on stocks, then you should have a list of trading strategies so you have options to choose from for investment.
To prepare yourself for the impending future, we have listed down some of the things that you can invest in when you have decided to retire. We certainly hope that this list will help you decide on what short term investment you can go for.
- Gold and Silver.
This is a good investment especially that almost everyone is interested with owning gold or silver. Owning gold or silver is considered a good venture for both short term and long term. Having gold or silver is sure to give big return of money since their value increases from time to time and the luster of these metals will not easily fade away.
- Short term money lending
Since you already have a steady source of money, why not use it to start a money lending business? You can use the excess from your regular pension for this type of business. You can let people borrow your money over a certain period of time with interest. With this, you are assured that you will not spend your hard-earned pension over some materialistic things that you may not need in the near future, you are also sure that you have profited from what you did. You just need to be careful and choose trusted people who will definitely pay what they have borrowed from you. There are still people who would take advantage of your kindness and you should be aware of it.
- Get Online Checking Accounts
This is very similar with online savings accounts that can also be one of your options for short term investment. They have small interest rates compared to other online accounts offered but what is important is that you are still earning while you are saving up your money. Having or owning several online checking accounts also saves your time and you do not have to endure so much bother. Opening one online checking account is an extremely easy process that will not take too much of your time or stress you out.
- Certificates of Deposit
This is a time deposit account distributed by credit unions and banks which has the same function as a promissory note. Certificates of deposits are available online or you can get them at investment brokerage companies or at brick-and-mortar banks. For you to avail and keep a highly competitive and fixed interest rate, you need to keep your money on the account on a definite period of time. They have term length ranging from a few months to a few years and you are not allowed to withdraw anything from your account until your specified maturity date. If decided to withdraw from your account prematurely, then you are subjected to a substantial penalty fee. This is a good short term investment since you are keeping your money to an institution which will qualify you for a much better interest rate in the long run. The only downside to this is that you cannot withdraw you money until you reach the maturity date.
- Money Market Accounts
Money market accounts have 2 types: the first one is similar with a savings account and the second one is the money market mutual fund. The first type needs to have a higher balance in an account while money market mutual fund invests on short term bank instruments. Money market mutual fund will not lose your money but instead help you earn a bit more interest compared to a normal savings account.
- Keep Your Cash and Open a Savings Account.
Once you are getting you pension and if keeping your stash of cash under the mattress is too old school for you, you can start with opening a savings account and keep your money in a refutable bank. Interests may vary but you can still find decent banks that can give you better offers with better services. You can also try to look for internet banks if you are really interested on a higher yield. Internet banks offers your interest rates close to one percent. There are banks that would offer promotions for you to maximize their service and get what your money is worth.
There a lot of options that you can choose from when it comes to short term investments. You can try Peer-to-Peer lending, Cash Back Rewards Offers, Short-Term Bond Fund and ETFs. You just need to choose wisely because you are putting your future life on the line. Once these short term investments blossomed, you and your loved ones are the first ones who will directly benefit from your success. If you are still young and you still have the chance to save up and put them on good investments, then it is a good thing to do. It is hard to imagine a future when you are not strong enough to work and you can barely make ends meet. Make your dream of living comfortable your goal when you start investing. Remember to save and invest while you still can.
For anything that we may have missed on this list, please do comment them below.