• Business
  • Careers
  • Tech
  • Investments
  • Leisure
MisterStocks Secure Your Kids’ Future With These Simple to Follow Investment Tips!
0Shares
0 0 0 0 0
MisterStocks
  • Business
  • Careers
  • Tech
  • Investments
  • Leisure
Investments

Secure Your Kids’ Future With These Simple to Follow Investment Tips!

admin May 25, 2021
0Shares
0 0 0 0 0

As a parent, you want to give your kids nothing but the best – whether it be food, clothing, education, or entertainment. Sure, priorities may look different for every other set of parents but, the want of securing your child’s future and making it better remains constant.

Apart from instilling the idea of financial independence from a young age, here are a couple of finance-related tips to help grant your child a brighter future!

Pexels | Remember that you’re your kids’ role model – act accordingly

1. Prioritize Your Goals

The first step is to identify and differentiate between your long and short-term goals. For instance, higher education or wedding fund could be your long-term goals, while a nice vacation, a milestone party, or an expensive gadget could be a short-term goal.

You need to start practicing financial disciple for each of these goals. Long-term plans could use a Systematic Investment Plan through an investment company, and short-term plans could be fulfilled by investing in a Mutual Fund.

2. Saving In A Piggy Bank

Teaching your kid how to be money smart is your job. The idea of financial independence and a saver’s attitude, if fostered from a young age, can be extra helpful in the long run. Start by giving your child pocket money and ask to save a portion of it for the future.

At the 6 or 12-month interval, open the piggy bank together and calculate the money saved. As a reward, let your child decide what they want to do with the money. Let them know that the occasional splurge can be good, as long as it doesn’t affect any important goals.

Pexels | Always instill healthy habits in your kids, especially when it comes to money

3. Invest Today for a Better Tomorrow

You should never dismiss the fragility of human beings and the unpredictability of life. As such, there should always be arrangements in place to support your child when you’re not around.

Insurance policies are great for such instances. Consider it your last gift to your kids. Your insurance amount will depend on your income, as well as the financial requirements of your family. Also, remember to take covers for loans so that your heirs aren’t burdened after your passing.

Pexels | Be active in the market today to reap the profits tomorrow

Bottom Line

Before signing off, here are a few more tips:

  • keep your long-term and short-term savings strictly separate
  • always put at least 10% (20% is more preferable) of your income into savings
  • diversify your savings into different assets
  • do not touch long-term funds unless for its intended purpose
  • don’t let market crashes affect you as the market always recovers

As long as you’re smart with your money, there’s no reason to worry. Keep following these tried and tested tips to bless your kids with the best!

Share This
0Shares
0 0 0 0 0
Previous Article
Economy Soars With Longest Bull Market in American History
Next Article
Growth Stocks: Here’s a List of The Best Ones to Invest In
Comments (0)

Leave a Reply Cancel reply

You must be logged in to post a comment.

Related News

Investments
What Every Investor Needs To Know About Direct Indexing?
Sven Kramer Jul 23, 2022
Investments
Best Investment Portfolios For 2022 & Beyond
Sven Kramer Jun 22, 2022
Investments
Looking to Fix Your Broken Portfolio? Follow These Money & Investment Tips
Sven Kramer Jun 12, 2022
Investments
The Best Piece of Money Advice From Financial Advisor
James Wiley May 20, 2022
MisterStocks
  • Privacy Policy
  • About Us
  • Contact Us
  • Home
  • Terms Of Use

Copyright . All RIGHTS RESERVED.

  • Lost Password Back ⟶
  • Login
  • Register
Lost Password?
Registration is disabled.