Sometimes We Can All Agree That We Can Be Stuck In A Rut When It Comes To Investments And Thinking About Our Future Finances. However, there is no better time to be investment savvy.
A slack hand causes poverty, but the hand of the diligent makes the rich . He who gathers in summer is a prudent son, but he who sleeps in harvest is a son who brings shame (Proverbs 10:4-5)
There is a lot to be said about living in the here and now, but there are also times when you really need to make good financial decisions.
After all, once the wages stop, how will you fund a lifestyle that you have grown accustomed to?
Good investing now is key, but knowing where to do and where to invest can have you in a muddle.
There is no better time to invest in your future than now. It doesn’t matter how old you are.
The plans of the diligent lead to profit as surely as haste leads to poverty (Proverbs 21:5)
Here are some of the best options to think about to help you get started.
Hire a Financial Advisor
You may have several savings pots or investment saving accounts that you don’t know what to do with, and often the world of investing can be daunting for anyone who isn’t fully knowledgeable in the matter.
This is when speaking with investment experts can really help you become investment savvy.
Where there is no guidance, a person falls, but in an abundance of counselors there is safety. (Proverbs 11:14)
It could be that you look to someone professional for some guidance, or speak with a financial advisor face to face.
Getting different expert analyses on savings you already have and what options you could take advantage of could help you to make more future investments.
Don’t be afraid to seek help if you are not familiar with investing. It could make all the difference in your future.
Investments in Real Estate
One of the best ways to make a long lasting investment is to consider getting on the property ladder.
It is without a doubt going to be one of the biggest purchases and investments you will make, but they can give you long-term rewards.
There is a lot to think about when investing in real estate for the first time, or even considering buying another property purely as an investment option. However, its a great way to expand your portfolio and become investment savvy.
There are mortgages to think about, savings and deposits, but a property is likely to increase in value over time, especially if you add further investment but make changes, making it bigger or improving the property in some way.
I highly recommend the Real Estate Investing QuickStart Guide. It’s very easy to understand and has a wealth of information.
Saving small and often
Another thing to think about would be to consider saving small and often.
Dishonest money dwindles away, but whoever gathers money little by little makes it grow. (Proverbs 13:11)
It might be that you need to think about savings pots where you add to them with money you don’t miss.
For example, it could be that you round down your bank account each day. Small amounts can really add up over time and be a great way to make some savings.
Read Simple Money Management Tips for some great advice on how to save money.
There are a couple of apps that allow you to save small amounts of money automatically. Before you know it you will have a large lump sum of money.
Types of Retirement Plans
Last of all, investing for the future with any pensions and retirement plans could be very useful.
Sometimes your employer will have programs in place that could help you to be more fruitful with your investment options.
Other times looking at private policies to run alongside them could help to give you more options.
After all, we need to be in a position where we can fund the lifestyle we have grown accustomed to.
The more you save for the future, the better position you will be in.
If you do not take part in employer pension plans or 401K plans you are throwing money away. You don’t have to start with a lot especially if your employer is matching your investment.
If your employer does not have a retirement plan then I suggest you open an IRA. There are different types to choose from.
- Traditional IRA – this is a tax-deferred retirement account. Any contribution made throughout the year may be deducted from taxable income. If you make a withdrawal it is taxed as income.
- Roth IRA – contributions are made with after-tax dollars and are not deductible at the time that they’re made. When you make withdrawals you do not have to pay taxes on them.
- SEP IRA – Simplified Employee Pension if you are a small business owner, there is an option for you and your employees. Contributions are made with pretax dollars and withdrawals only come from an employer.
- SIMPLE IRA – Savings Incentive Match Plan for Employees. Plans are available for small businesses. Both employees and employers can contribute
- Nondeductible IRA – This IRA is for those who don’t meet the income requirements for the Roth IRA. Investors make after-tax contributions and must pay income tax on any investment gains.
- Spousal IRA – a working spouse can contribute on behalf of a non-working spouse.
- Self-directed IRA – means exactly what it’s called; self-directed. You manage the account instead of going through a broker. There is a lot of flexibility with this type of account but there is high risk as well.
Make sure you check with a financial advisor that can help you choose the right type of account for you.
Investing in the Kingdom of God
There is no better investment you can make than the Kingdom of God.
Every single type of investment comes with some type of risk; investing in the kingdom does not.
Give, and it will be given to you. A good measure, pressed down, shaken together and running over, will be poured into your lap. For with the measure you use, it will be measured to you.
Are you giving with a cheerful heart? Or do you give reluctantly and out of duty? The condition of our heart, when we give, makes all the difference.
The Lord does not need your money or anything else you have. However, it pleases Him to see someone happy to give to the Kingdom.
Bring the full tithe into the storehouse, so that there may be food in my house. And thereby put me to the test, says the Lord of hosts, if I will not open the windows of heaven for you and pour down for you a blessing until there is no more need. (Malachi 3:10)
Here are other Ways You can Invest in the Kingdom:
Invest your time – There is so much work that needs to be done. look for a need and give your time.
Let each of you look not only to his own interests, but also to the interests of others. (Philippians 2:4)
Invest Your Knowledge – We were called to spread the gospel. We have to let the people know what is coming.
All Scripture is breathed out by God and profitable for teaching, for reproof, for correction, and for training in righteousness, (2 Timothy 3:16)
Invest Your Love – So many people are dying inside. We can make a difference in someone’s life just by showing the love of god.
The second is this: ‘You shall love your neighbor as yourself.’ There is no other commandment greater than these. (Mark 12:31)
The World Needs Us Now Whether They Know It Or Not. Its Time For Us to get busy!
I wear many hats; Wife, Mom, Minister, Blogger and Entrepreneur.
It’s not easy juggling everything but with the Grace of God, I can do all things!
My plate is full but my cup runneth over!!
I appreciated the scriptural reminders on investing. I tend to forget there are so many verses about the positive aspect of money.
This is a great post on tips on investments and savings! We have been in our home for over 20 years and took advantage of refinancing recently. I like the idea of saving small and often. This way it makes it easier to put money aside. Thank you for sharing these wonderful tips!
Some good tips here, especially like the idea of saving from bank account each day.
Solid financial advice right here! God has really helped my hubby to save for our retirement and I’m so thankful! Thank you for sharing this valuable and priceless information, I know someone needs to hear this today to begin planning for their tomorrow! 🙏❤️
What a great topic! You have so much insight to share about the financial realm. Sharing!