This is a guest post by Nancy Evans.
Saving for the future is very important at any stage of your life. The younger you are when you start the more time you have to explore options and earn income. Some may think that in this economy it is just better to hide your money away but that's not true. Put your money to work for you by making smart investments in your future. Start today by checking out options that will help you provide a safe and secure future for every member of your family.
There are several great ways to get started. First take a look at how much you have to invest right now. That will give you a great place to begin looking at your options. Some like to go with stocks or bonds. While the stock market fluctuates, there are different types of investments you can try. Some are riskier than others. Depending on your age at the time of investing and how much you are investing, you can choose those riskier options. Those are typically good if you have time to recover your losses should you have any.
Money markets are also great ways to invest your money. You can have access to your money but still earn interest while it is sitting there. By making the choice to invest in a money market you are making the wise choice to put your money to work for you. Instead of it sitting under your mattress gathering dust, it can be sitting in an interest bearing account collecting money. These are not as risky as choosing something like stocks but they can make you some money with a little time and patience. These also offer the nice bonus of being able to access your money if needed with little hassle. Some investments do not offer that to you.
One of those type of investments would be a Certificate of Deposit or "CD." These are typically tied up for a certain length of time and earn interest for that time period. They can be 30 days up to five years. This is a nice option if you can get a good interest rate and you do not need the money. These will charge penalties for withdrawing early so it is not a wise choice if you will need access before the time period is up.
There are many other wonderful investment ideas out there and someone like Aozora Bank CEO, Brian F. Prince can steer you in the right direction. Talk with a trusted adviser or investment officer to find out the best options for your family and start saving today.
See my disclaimer.