Turning 30 is considered a major milestone in the life of women. It is that point of life, where women undergo the transition from their youthful and nonchalant 20s to mature and confident 30s. It is the age where women have almost figured out their life goals and aspirations and start planning for the same. Single women might be considering marriage, and married women may be thinking of having a baby. You must have read many articles telling women to do so and so things in their 30s, take care of their happiness, etc.
Among other things, it is the perfect time for women to start planning their financial future and invest to secure the same. Either you take the advice of a professional or download personal investment management software, it’s important you invest some part of your income. Here are five investment tips for women above 30:
- Research and educate yourself about the investment options:
There are many investment plans and options available in the market. This often causes confusion and insecurity in the mind of first-time investors. Therefore, you should research about various plans and schemes available in the market and how they would benefit you and help in achieving your financial goals. Educating yourself before your first investment will not only make you more confident in investing, but also help you in taking an informed decision.
- Plan your investment to beat inflation
It is very necessary to plan your investment keeping in mind the inflation. Due to inflation, an amount which may look quite substantial today, may become a meager sum in future. Inflation can make your accumulated wealth seem like nothing. Therefore, to plan for future, you should always invest in instruments which are flexible and capable enough to beat inflation. In this way, your money won’t lose its value in future.
- Start planning your retirement
Many women delay their retirement planning as they think they have time. This is not a correct step. The fact is no age is too early for planning retirement. So if you haven’t planned your retirement yet, you should start doing it as soon as possible. Retirement plans will help you in maintaining steady cash flow even after retirement, and you don’t have to financially depend on anyone in future. Join the retirement plans available at work, but don’t limit yourself to it only. For a steady and substantial income after retirement, you should invest in retirement plans available in the market too.
- Invest in child plans
Even if you are not married or if married but not planning a baby yet, you should start investing in child plans. The cost of education is spiraling skywards, and so are the costs of other essential items like food, clothing, etc. Hence, you should start investing to meet their needs and give them a good lifestyle. Plan your investment also keeping in mind the cost of extracurricular activities and their future marriage.
- Diversify your portfolio
Remember the old saying, “never put all your eggs in the same basket”. That works for the investment. Never invest in a single instrument, but allocate your asset in such a way that you will maximize your returns while minimizing the market risks. Personal investment management software can prove essential in diversifying your portfolio.
Gone are those days when the 30s are considered old and the end of life, but nowadays it is taken as the start of a new phase. Do away with your anxiety and insecurity and take confident steps towards the new beginning. Plan your future well so that you can reach your targeted life goals. Follow the rules of investment and keep learning from your past mistakes and you will be soon boasting of a successful investment portfolio.