When you’re living life in the fast lane, keeping up with the latest trends is important. You want to stay on top of the latest technological advances. You want to look good, and you want to feel good. Trending fashion styles and the latest fitness plan are all part of your outlook on life. So how can you secure this way of life, for the rest of your life?
Single life makes life easier. With no commitments or dependents to worry about, you can live your life to the max. You can do what you want when you want. And you don’t need to be concerned with anyone else’s future but your own. How you live your life is entirely up to you, and there is no need to justify it to anyone else. But are you really going to stay single forever?
Most of us know we are on a path to family life. It may not be in sight yet, but it’s something that is at least sitting on the back burner of priorities. It’s there, somewhere, in our unseen future. Having a family means taking on a lot of responsibility. Your wife and kids will be dependents, relying on you to bring home a steady income and provide for them no matter what.
Living your life surrounded by those little luxuries you enjoy may actually have been a good investment for your future. There are plenty of things we lavish on ourselves when we only have ourselves to spend it on. It’s possible you’ve bought some jewelry. Precious metals can be a good investment for the future. Gold bullions can be an extravagant purchase for some, but security for retirement for others.
You might have bought yourself a trendy loft apartment or an upmarket property near the city. There is every chance that property is now worth more money than you originally paid for it. Investing in property can be a great way to make money for your future. Property portfolios provide you with a steady rental income too. As a long term investment, the home you live in could prove valuable when you’re ready to sell up and buy your first family home.
Many young men like good quality, fast cars. Most cars bought from new immediately lose value once you’ve driven them off the sales lot. However, there are some vehicles that hold their value well. If you’ve treated yourself to good sports car recently, you might have made a good investment for your future. It may not be the right vehicle to install a baby car seat, but any trade-in could provide you with a lot of leftover cash.
Have you ever bought stocks and shares? Perhaps you invested in a friend’s start-up some time ago, and they are now turning a profit. These kinds of investments may be risky, but good timing can reap rewards. What you might have seen as a bit of a game or a gamble when you did it, could easily become a valuable investment in the future.
Some of those spur-of-the-moment purchases we make in life could turn out to be wise investments later in life. We all know our lives will change over time. What we do now will impact on our future. Next time you fancy living life in the fast lane, it might be worth thinking about where that money could be better invested for your future. After all, one day there may be other people in that future with you.
So what can you do to make sure you’re on track for a dream life, no matter who you share it with? It’s important to decide what is important. While many women have careers and good incomes of their own, there may be times when family life takes over. One or both of you may decide to take some time off from working. You’ll still need a good income to live comfortably though. Your savings and investments could afford you that comfort you’re looking for.
Perhaps you’ve always dreamt of a comfortable house in The Hamptons or a luxury Penthouse in New York? Planning now how you can achieve that financially gives you a greater chance of living the dream. Think about how your finances will be affected if you lose your job. Have you figured out how much it costs to look after a family? Some people spend the money they have today as if they won’t have any tomorrow.
Luxury items can be good investments. But there are always other places to stash your cash that could turn a profit for you. Have you achieved all you wanted to academically? Education is expensive. But a good degree or MBA could earn you a much higher salary. It could offer you opportunities for promotion and even open doors to more lucrative firms. How’s your health? Do you have any potential health conditions that are expensive to treat? Why not invest in diet, fitness and health programmes to improve your prognosis.
Many people rely on one or two pensions to provide an income when they retire. Investments can offer further streams of income to boost your wealth later in life. Of course, there will be many expenses to cover before you give up your job for good. What about all those ‘bucket list’ things you’ve wanted to do forever? What will it cost you to tick them all off? Do you want to spend your cash now, or see it grow in an investment opportunity?
Nothing in life is risk-free. But it takes money to make money. The more you invest, the more potential you have to grow that cash into a tidy pot for the future. Make a list of what you want. This will help motivate you to make your cash work harder. Whether you envision family life, or you want to hold onto bachelorhood for all time, your money is the key to giving you the lifestyle you desire. Give your financial advisor a call today to see how far your cash can take you.