{"id":2166,"date":"2015-07-10T19:20:33","date_gmt":"2015-07-10T19:20:33","guid":{"rendered":"https:\/\/keblog.demoapp.xyz\/?p=2166"},"modified":"2022-11-15T12:01:33","modified_gmt":"2022-11-15T05:01:33","slug":"why-investing-in-your-early-20s-will-be-your-best-financial-decision-to-date","status":"publish","type":"post","link":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/why-investing-in-your-early-20s-will-be-your-best-financial-decision-to-date","title":{"rendered":"Why Investing in Your Early 20s will Be Your Best Financial Decision to Date"},"content":{"rendered":"<p>A person&#8217;s early 20s is the best time to abuse their bodies. We can still go to work at 9AM after a night of partying, we can stay late to finish a report without any drawbacks, and we can drink all the coffee we want without thinking about heart palpitations.<\/p>\n<p>Our bodies can take the occasional beating and recover if we change our ways early enough. Lucky for us, it&#8217;s the same way with our wallets.<\/p>\n<p>According to US-based financial think tank\u00a0Financial Industry Regulatory Authority (Finra), millennials display low levels of financial literacy. This means our generation know very little when it comes to money matters.<\/p>\n<p>Instead of wasting your moolah on transient things like the latest smartphones or a pair of trendy shoes, why not try long-term investments?\u00a0For people who are really terrible in financial matters, there are experts who churn out sound advice we can learn from.<\/p>\n<p><a href=\"http:\/\/www.wheninmanila.com\/money-in-20s-financial-advice-for-20-year-old\/\" target=\"_blank\" rel=\"noopener\">Heinz Buloz<\/a>, editor-in-chief or MoneySense Magazine, says that the best time to save is in your early twenties because a lot of yuppies still live with their parents.<\/p>\n<p>&#8220;Start investing early and more important do it regularly. You may not have a lot right now, but remember that time is on your side. Besides, you can afford to put in P1,000 or P2,000 a month. Hello! You\u2019re still living with your parents! Your only expenses are for gas, lunch, chips, and deodorant,&#8221; Buloz says.<\/p>\n<p>But where do you put your monthly savings? Do you let it sit in the bank or can you let other people manage it?\u00a0If you are a total noob when it comes to investing, there are two options that you can readily take advantage of without having to read much on it.\u00a0Most insurance companies offer a package of insurance plus mutual fund investments. A lot of people also swear by\u00a0Unit Investment Trust Funds or UITFs.<\/p>\n<p>There are also dedicated people who can educate you on these matters like insurance or bank agents.<\/p>\n<p>If you plan on taking the\u00a0insurance+mutual fund route, there a few things you should know.<\/p>\n<ul>\n<li>Getting insurance is easier while you are young since because premiums are lower. An insurance company\u00a0thinks that someone younger is less likely to develop medical complications.<\/li>\n<li>But investing in insurance is a gamble on &#8220;what ifs.&#8221; What if you get sick? What if you get into an accident?<\/li>\n<\/ul>\n<p>However, if you come from a well-off family that can cover medical expenses, then think about a better avenue to put your money.\u00a0You might be better off investing in a <a href=\"http:\/\/www.uitf.com.ph\/article_details.php?article_id=174#gsc.tab=0\" target=\"_blank\" rel=\"noopener\">UITF<\/a>.<\/p>\n<p>Why start early? Surely when you&#8217;re 30 you have more money to spare?<\/p>\n<p><img loading=\"lazy\" class=\"alignnone  wp-image-2167\" src=\"https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/09\/Early-investment-300x164.jpeg\" alt=\"Early-investment\" width=\"380\" height=\"208\" srcset=\"https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/09\/Early-investment-300x164.jpeg 300w, https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/09\/Early-investment-768x419.jpeg 768w, https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/09\/Early-investment.jpeg 970w\" sizes=\"(max-width: 380px) 100vw, 380px\" \/><\/p>\n<p>The graph shows how interest compounds over time. A person who start saving Php1,000 per month at 15% at the age of 18 will reap more benefits compared to a person at age 28 saving the same amount.<\/p>\n<p>We all have a choice to either invest now or invest later. With time on our side, don&#8217;t you think sooner is better than later?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A person&#8217;s early 20s is the best time to abuse their bodies. We can still go to work at 9AM after a night of partying, we can stay late to finish a report without any drawbacks, and we can drink all the coffee we want without thinking about heart palpitations. Our bodies can take the [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":2169,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[18],"tags":[126],"_links":{"self":[{"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/posts\/2166"}],"collection":[{"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/comments?post=2166"}],"version-history":[{"count":0,"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/posts\/2166\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/media\/2169"}],"wp:attachment":[{"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/media?parent=2166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/categories?post=2166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/tags?post=2166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}