There are many was to invest that has nothing to do with stocks and bonds and financial products. In five part series the "Five Rings of Investing," I'll introduce you to a few of the most popular ways to invest. The first ring is investing in "yourself". The return on this investment can be endless and can develop over a lifetime of events.
Going to an established, accredited educational institution to obtain a degree is a great way to invest in learning new concepts and develop valuable skills. However, it is not the only way to expand your knowledge or skills. Many have already done the formal education and want to continue development. Others have found that formal education is not the road to travel for them. There are continuing education programs, online trainings via webinars (many are free!), local events in your town that are great resources. Obtaining training to become certified or licensed in various fields are other options in many fields. There may be some formal training to complete through self study or other requirements that may be met before sitting for the test.
For the even more casual learner, many will opt to follow certain platforms within social media, magazines or books for those who enjoy some popular titles, authors or publications.
Have you considered starting your own business? Those who have taken their experience and training to the next level are branching out on their own. This has become one of the most up rising trends with all the changes in corporate America. Many individuals are starting up their own services, product launches and even taking hobbies to share their talents with the world. So if you want to sell Avon, build websites, become an Affiliate marketer or even start a Warren Buffet company, the sky is the limit if you have the desire to take that leap!
Next time, I will share "Ring 2 - Investing in Real Estate"!
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Our growing economy and relative calm and stability has fueled the market’s advance.
US Economic Outlook: With the resurgence of manufacturing, economic growth is placing upward pressure on prices, interest rates are moving higher, and consumer confidence is pegged at multi-year highs. These are all indicators of a healthier economy. Even under new White House Leadership, rich market valuations, and global unrest, we believe that the economic outlook will stay positive.
There are three well-known, institutionalized ways of investing your money. With the Banking Industry, you can deposit money into Certificates of Deposit and Money Markets. With the Securities Industry, you can buy Stock, Bonds, and combinations of the two. In the Insurance Industry you can purchase life insurance and annuities.
Each way of investing has its own pros and cons. However, each system believes that it is the best solution. Amusingly, each method is eager to point out the others’ shortcomings. Navigating these waters requires reflection, evaluation and balance—and dare we say guidance from fiduciaries like us.