During the dawn of the 21st century, millennials are the first to be born in the digital world. Also born are the great potentials of success. In everyday life of a millennial, technology has always been a part of it. Millennials have an easy access to the internet which make them check their phones from time to time, everyday – calling them more appropriately as this world’s digital natives. Headstrong, fearless, and independent – these are just some of the characteristics millennials are possessing that make a strong force to be reckoned with. But, there’s one thing that stops every millennial from reaching his full potential: declining possible opportunities. If you want to achieve more in your chosen career and personal growth, take time and effort in learning how to start investing for the future. This page will help you understand why millennials should start investing not tomorrow, but now!
Why Millennials Should Start Investing Now?
ONE | MILLENNIALS ARE BROKE
As much as possible, many will avoid risk and would have second thoughts when it comes to investing. That is the reason why they put their hard-earned money into their savings account. That is tradition, and it is quite understandable. However, let us face the fact: Millennials are broke. Very low awareness about savings and investments translates to a generation of millennials with almost empty bank accounts. In today’s generation, we are living in a time where there is an overload of information vs. lack of financial literacy. But of course, does it need to stay that way? It doesn’t have to, right?
TWO | EASY ACCESS TO RESOURCES
Do you know what’s the good news? Millennials have everything they need to make the right preparations in establishing a secured future. A wide variety of resources are within your reach and some are available for free! There is a light at the end of this if you will take the time now to become financially responsible. Stop living a life of instant gratification and save for the future so you aren’t always living from paycheck to paycheck.
THREE | TIME IS YOUR GREATEST ASSET
As much as possible, another reason why millennials should start investing earlier is to give your investments more time to grow. Time is the greatest best friend of every millennial. The stock market will have its ups and down, but historically, it has been one of the best wealth generating tools when we talk about long term investments. Compound interest will work for you and by the time you retire, you will be amazed of what it can do.
FOUR | WORKING 40 HOURS A WEEK SUCKS
This post is not a rant against those who work full time and doing something they love. In fact, doing what you love as much as possible is the ultimate end behind this. The idea of job security is an old model. Millennials have great potentials with an emerging high entrepreneural spirit. Working more hours doesn’t mean you’re being more productive. Actually, time is no longer the currency for productivity. The new currencies are focus, energy and skills. If you start investing and developing your good financial habits, working 40 hours a week is no longer necessary. You will be your own CEO.
FIVE | A WAY TO FUND YOUR TRAVELS
Admit it or not but do you love travelling, right? Easier access to travel makes more and more millennials travel. Whether it’d be getting out of routine, social confirmation, escape or experiencing new things, many millennials are in the worst financial position to travel.
A lot of people do not start investing until later in their lives, usually when they are already closer to their retirement. Yet, those who start investing at an earlier stage do have a tremendous advantage. This makes us, millennials, unstoppable if we only prioritize the right things in life. While we may not have a lot of extra cash to invest, we do have another valuable asset, and that is time. Let compound interest do the work! I hope these reasons why millennials should start investing are enough to get you moving.
Now, you have all the reasons to invest.
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Cha of littlemisadvencha is a Filipino Civil Engineer, a graduate student at a local university and a fur mom of four-legged babies. She came from General Santos City and finds traveling makes her an awesome person. She writes about her experiences to inspire and educate.