Millennials are wishful thinkers and passionate about what they do, which is why they work hard to meet their goals.
Today, many millennials are enjoying the fruits of their hard work– exploring the world, rewarding themselves with the latest gadgets, and living the life they want to lead. .
But while they deserve to splurge on luxuries (they’ve definitely earned it!), they must also never forget to plan and set aside money for investments that will ensure that they continue to live a comfortable life in the future.
Here are several ways to grow your money and secure a future that you can be proud of. As they say, the life you want in the future depends on how well you prepare for it.
1. Health Care
No matter how rich you are or how many assets you have, your greatest wealth is still your health. Health insurance is a necessity for every individual, and it’s important that you start getting one now as hospitalization fees and medical costs are expected to rise in the future.
2. Life Insurance
In addition to health care, ensure that you and your family are protected with the right insurance plans. There are numerous plans available, which can be tailored fit to your needs and budget, so your loved ones can be provided for even when you’re gone.
3. Emergency Fund
It is also necessary to build a fund that you can use for emergencies. According to many financial advisors, having an emergency fund that can cover your living expenses up to six months is ideal.
Investing in stocks is highly recommended to help meet your long-term financial goals as this can possibly offer bigger returns. If you play it right, stocks can outperform inflation, ensuring that your money does not lose value. The key to investing in stocks and enjoying greater earnings in the future is by building a diversified portfolio.
5. Property and Real Estate
Whether you’re buying a home for yourself and family, or buying property as a means to earn passive income, real estate is a great investment. Unlike in previous decades, you can now find numerous types of properties, which require less money down. From condos to town houses, house and lots, and more, many of these developments come at competitive prices and flexible plans so you can easily save up for them.
In addition to more flexible and affordable payment schemes, numerous institutions like BDO help make the process of acquiring property easier for you.
BDO Home Loan offers financing package options with flexible payment terms, as well as low interest rates, giving you more reason to finally purchase the home/ property you’ve always wanted.
Apply online via www.bdo.com.ph (which is easy and hassle-free!) and you can get waived fees up to P100,000! This is inclusive of registration fee, DST, notarial fee, handling fee and appraisal fee. So, why wait when you can start building your future now.
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