6 Investment Suggestions For Traders In Their Early 20s

Traders in their early 20s find themselves in the unique position to set themselves up for financial success in their 30s. The 20s are the best time to prepare to set up funds for the future such as real estate funds, college funds for future children and significant events such as marriage. These are things easily accomplished and saving in 20s can be easier than 30s, especially in the independent years when one doesn’t have to worry about feeding a family or paying off mortgages. Long-term pay-offs are important strategies in Trading 101, so taking the same approach to your personal life is a great idea.

Here are 10 things to invest in during your early 20s to keep your trading lifestyle going as long and comfortably as possible:

1) Getting in shape

Medical expenses are the most common reasons for people going into debt in the United States. The United States is the leader in global medical spending so if you hail from there, getting a gym membership is a great idea. Investing in one’s health is one of the few years to reduce future medical expenses and extend your lifespan.

2) High quality wine

What comes a surprise to many is that wine is considered a rather stable investment, which isn’t exactly covered in Trading 101 class. There’s a Wine Stock Exchange and everything. Most wine auctions sell wines in sets of 3 bottles each, which can be a great investment. Wine needs at least 5 years before its mature enough to be sold on the Wine Stock Exchange as well as wine auctions. Wine needs to be stored properly but their price appreciates quickly over time, especially if it’s a good year from a good vineyard. And of course, should you get unlucky and can’t sell your bottles of wine, you can always drink it and have a nice dinner.

3) Kiva investments

Kiva is a micro-finance organization that has a unique take on micro investing. Using Kiva you can use spare cash to loan it to tiny entrepreneurs located in third-world countries. Investments start as low as $25 per loan which could enable someone abroad to start their own business. Kiva is a great way to combine investing and charity and can even provide some returns once you receive repayments on your loans.

4) Building your personal brand

Social media has become one of the most important players in building brands – for both companies and individuals. On average, millennials spend 4 to 5 hours browsing social media per day, which is time that could be spent building a brand on the same platforms to profit from in the future. Social media is a great way to find new business connections and opportunities.

5) Insurance

Your 20s are the best time to get started in buying insurance since your premiums will be lowest they’ll be for the rest of your life. Since you won’t have many items that need insurance, this is a great time to get into the habit of buying insurance every year. Many insurance providers offer discounts on consecutive years that you had no claims in, making these a great investment to get into early.

6) Starting your retirement fund

In your 20s, retirement seems like such a long and unimaginably far thing on the horizon but saving up for it starts as early as your 20s. If you’re working in a company that offers a retirement plan scheme where your contributions to that fund are matched or incentivized, it’s highly recommend for you to take that deal. Self-employed traders can also open their own retirement funds already – the earlier, the better.