Afraid of your children’s future? 6 steps to take now
It turns out that more and more people are afraid for the future of their children these days.
Of course, that makes sense, with the COVID-19 pandemic and a faltering economy. So if you’re concerned about your financial future and the future of your children, here are six concrete, practical steps you can take to make things better:
1. Maximize your retirement savings
If your employer offers a PER plan, contributing to it is a no-brainer. This lowers your taxable income, allowing you to keep more money in your pocket and not your employer. Ultimately, this means a better financial future for your children if you can support yourself in retirement.
Benefit from the full contribution of your company. If it’s 3%, contribute 3%. If they pay 6%, try to get to 6%. It’s free money. There is no other place where you can get free money.
If you’re self-employed or don’t have access to a PER plan through your employer, try having some of your savings automatically deducted from your paycheck and transferred to a tax-exempt or tax-deferred retirement fund. It works the same way.
2. Start investing today – Yes, today
If you want to build wealth for your family’s future, now is the time to get started. not in general. Get started today, even if you have to start small!
Take a look at this list of the richest people, and you’ll notice that all billionaires have one thing in common: they all own companies, or parts of a business. But if you work for to earn a livingit may seem completely inaccessible.
This is why many people use the app IQ Option. It allows you to engage in an activity normally reserved for the wealthy: buying shares in companies.
In fact, you can invest in stocks of well-known companies such as AmazonAnd Google or Apple. Registration takes only a few minutes.
3. Leave your family up to 1 million euros
When you talk about your family’s future, have you thought about how you would manage it without your income after your death? Chances are, your checking account balance won’t last forever.
But if you want to give your family up to €1m if the worst happens, you’ll need to Life insurance.
You’re probably thinking to yourself: I don’t have the time or money for this. But it will only take a few minutes if you go to one of the online insurance comparisons such as Comparison insurance.
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It’s very easy to get a free quote and see how much life insurance you can leave your loved ones – even if you don’t have seven figures in your bank account.
4. Manage your credit like a boss
Your credit rating matters. And the higher the amount, the more likely you are to get a mortgage, car loan or credit card. And the ability to do things like to buy a house Your family will have a huge impact on your children’s long-term financial future.
Even if you don’t plan to buy a home anytime soon, Bad credit score It means that you will have to pay a huge security deposit when renting a car or moving to a new apartment.
5. Stop paying your credit card company
credit card debt A big factor in how we think positively or negatively about the future. If you have credit card debt, you know the anxiety, the interest rates, and the fear of never getting out of it. Additionally, your credit card company gets rich by ripping you off high interest rates.
6. Grow your money 16 times faster – without risking a single piece of it
You may have heard that the best way to grow your money is to put it in a savings account and leave it there forever. This is bad advice.
But maybe you’re just looking for a safe place to put your money, while still making money. Under your mattress or in a safe, you won’t get anything. And a regular savings account won’t do you much good.
But an investment platform called my small investment It allows you to grow your money.
Enter your email address to get a Mon Petit Placement account. After confirming your email address, securely connect your bank account so they can start helping you Get extra money.
Your funds are secured, and they use military-grade encryption, which means it’s completely safe.
It is understandable that more and more people are afraid for the future of their children these days.
Don’t let nightmares win! By taking concrete action, you will feel better.