It’s Not To Late To Start Saving!

August 13, 2020

 

Article written by:  Bontle Moroka

We all dream of a better life, one where there is financial freedom and we can live out our dreams. The reality is that in order to secure a successful future, one needs to start putting in the groundwork now.

Fortunately, there are now a wide range of options available that can assist you in securing a brighter tomorrow.

Buying Bitcoin and other cryptocurrencies can be a great way to explore an experimental new method of investing. As with any investment, there are always risks present, it is often said that one should be careful and never gamble with more than what you are ready to lose.

The value of Bitcoin has risen from recent lows, but it’s still trading below the highs we saw in 2017. The market has been taking a more active interest on Bitcoin so we can expect to see the numbers soar again.

Where to Buy Bitcoin

You can purchase Bitcoin from several cryptocurrency exchanges. Many institutions will charge a percentage of the purchase price.

In some countries, it is possible to buy Bitcoin directly through ATM’s. There are almost 3000 Bitcoin ATM’s around the United States currently.

Mirror Trading International (see below to learn more) makes it easy to join the ranks of those who have started earning from the rise of Bitcoin. A small initial investment for one to set up an account and start earning. In addition to this, any profit you make is 100% yours, allowing you to plough this back into saving for a brighter tomorrow.

Outside of Bitcoin, numerous investment decisions need to be made that will help you live a prosperous financial life.

Here are some tips that can guide you in your quest to securing your future:

1. Start Investing as Soon as You Begin Earning.

One of the most important factors in how much wealth you can accumulate depends on when you start investing. There’s no better example of how the proverbial early bird gets the worm than with investing.

Starting early allows your money to compound and grow exponentially over time – even if the amount you have to invest seems small or insignificant. It’s a huge mistake to believe you don’t earn enough to invest now and will catch up later. If you wait for a someday raise, bonus or windfall, you’re burning precious time.

Mirror Trading International gives you the option to start seeing compounding returns on your initial investment amount from as little as a $100 initial investment.

2. Use Automation to Stay Disciplined

For most people, saving and investing is a luxury. It is easy for us to put these important aspects of wealth creation on the back-burner.

As it is so easy to procrastinate on saving and investing – the best strategy is to automate the process. Automation works because it anticipates that you could easily go off the financial rails and be tempted to spend money that you shouldn’t. In order to be successful, you must be realistic about ways you could slip up and then create solutions that force you to maintain good habits.

There are various systems that can be used to ensure that a certain portion of you spending is attributed to savings.

3. Build Savings for Short Term Goals & Emergencies

Though we tend to use the term savings and investments interchangeably, they’re not the same thing. Savings is cash you keep on hand for short-term planned purchases and unexpected emergencies.

Unless you have a huge amount of cash reserves, your savings should not be invested because the value could drop at the exact moment you need to spend it.

3. Choose Investments Based on Your ‘Horizon’

Your investment horizon refers to the amount of time you need to keep your investment portfolio before spending it. For instance, if you are 50 years old and plan to quit working and living solely off your investments from the age of 65, your horizon is 15 years away. This is important to consider because the longer your horizon, the more aggressive or risky you can afford to be.

If you have at least 10 years to go before needing to tap into your investments for regular income, you have plenty of time to recover from a temporary market downturn along the way. But as you edge closer to retirement, it is wise to shift to less risky investments, so you preserve your wealth.

Bitcoin is an investment option that can be used either as a smaller percentage of your portfolio as you near your investment horizon, but ideally the ebbs and flows of the market are generally more well suited to someone whose horizon is slightly further away. We have seen plenty of cases where people have used Bitcoin to accelerate their earning potential.

The key to building wealth is to start saving and investing as much as you can as early as possible. However, there is no shame in starting small. And if you’re starting late, don’t stress, just get motivated about it right now.

Setting up accounts and automating contributions is a powerful step in the right direction. Years from now when you have savings to fall back on and fund the lifestyle of your dreams, you’ll be so happy that you took control of your financial future.

Want to learn more about getting started with Mirror Trading International go to https://bit.ly/mtiadvantage