6 Tips for Building Your Retirement Funds
When creating your ideal property portfolio, it is very important to start with your long-term goals and work backwards from there. In this CrowdfundUP blog post, we help you discover more about these strategies.
1.Write a plan and set your long term goals
A suitable plan and set goals provide the necessary context to make investment decisions with purpose. A written plan with goals provides the road map and is a necessary first step to building your investment portfolio. Financial success results from the many small decisions you make so once investment goals have been established, you can begin to look for the asset classes that will allow you to reach your end goals.
2.Get Professional Help
Asking for the opinion of a professional is helpful whilst building your ideal property portfolio, as you have several options at your disposal and it might be quite confusing to make your decision. One of the best things is to opt for the assistance of experienced professionals, such as a finance broker, financial planner, or an accountant.
3.Start Investing Young
Especially if you're just beginning to put money away for retirement or building your investment portfolio, start saving and investing as much as you can early. Let the ability of your assets to generate earnings have an opportunity to work in your favour.
4.Start Saving Early and Estimate Future Income
As you save and invest early, the more likely it is that you may accumulate sufficient assets to fund a long retirement. Try setting a goal of saving 10% of your annual income for retirement and projecting future income requirements by taking a look at current spending and how much of your income you should aim to place in retirement.
5.Try to Invest with Bitcoin
Bitcoin has become popular in 2017, up more than 200% year-to-date. Even more significantly, the digital currency is becoming more widely accepted around the world. So, it may seem like a good idea to buy some bitcoin while it's still in the early stages as part of your retirement.
6.Commercial Real Estate Crowdfunding Platform
Real estate crowdfunding allows for strategic investment without the heavy lifting of maintaining a property.The money goes directly into the hands of the individual borrower to purchase, renovate, or refinance a real estate project. Investors reap the benefits through monthly dividends or interest earned.
Thanks to new technology in FinTech like real estate crowdfunding and digital currency, the days of workers being forced to passively accept costly, conflict-ridden, investment schemes that undermine their retirement goals may be coming to an end.
Oct 31. 2017
"Any advice provided on this blog is general in nature. Readers are urged to seek their own professional advice before making decisions."