Just Got a Job? The Time to Invest is Now!

Landing your first job is a life and career milestone. Make sure it doesn’t just go to waste on designer coffee and nights out clubbing. Start on an investment plan as soon as possible.

by Sam Bautista, 21 January 2018

Start saving and investing now!.

It is never too early to think about how to invest your hard-earned money. While some people would like to think that there’s more time to save down the road, the truth is that the most optimal time to start saving and investing is now.

Take Advantage of Your Youth

Applying for life and health insurance in your 20s is a very smart move.  As it is assumed that you are in better health, it is easier to get approved and the premiums are generally lower. Insurance policies double as investment plans these days, so besides being protected from life’s uncertainties, you’re investing your money in funds that are managed for you. An added bonus is the earlier you start, the more growth you’ll see in your investment. 

Hold on to that Bonus

As tempting as it may seem to splurge on the newest gadget in the market, or take a nice beach vacation as soon as you get your quarterly or semi-annual bonus, hold on to that extra cash and put it towards paying for insurance premiums or a long-term fund that’ll earn you more in the long run. You can always save up for the new phone using your monthly income—you just need to be more conscious of, and stick to a prescribed budget.

Use Sudden Windfalls Wisely

Did you just get a huge performance-based bonus? Did a relative leave you with a sizeable inheritance? Sudden windfalls feel great. They are gifts from the universe and shouldn’t be squandered on luxury weekends that you’ll soon forget. Put it to good use and invest in a one-time payment fund that’ll earn you dividends down the line. Have a chat with your wealth advisor and look at options available to you like FWD Life Philippines’s All Set plan. You’ll be surprised at what you can do with a reasonable amount of money these days.

Start Paying for Your Own Place

Another great investment is real estate. Whether you plan to use it as a home for yourself or rent out in the future, real estate is always a good, solid investment. Several developers have even tailor-made their plans to cater to young urban professionals. Low down payment and minimal monthly mortgage payments are now available for condominium units, all the way to single detached lots. 

It is never too early to start on an investment plan. It doesn’t have to be something that takes a huge chunk of your monthly paycheck and makes you end up resenting not having any spending money. Start small and slowly build your way up to a comfortable amount. Put up a system to automatically set this money aside so you don’t notice it as much. Make a game of it and pretend that you just have another bill to pay. At the end of 10 or 15 years, you’ll be happy you started playing this early on. 

Happy saving!