Where to invest money is something that people ask themselves every single day because they want to find the best investments for them. They want to put their money into an investment and watch it grow. But one thing to take into consideration is that age plays a role in where you put your money.
This is because, well, you simply have more time when you are young to pull in your riches than what you do when you are older and there is also this order to things that you need to consider.
For example, if you are a 23 year old, you may want to invest your money into equities. Basically, you can put your money into accounts that will gain interest and make you some money that will work for you later in life.
However, you may know that eventually the stock market will outpace a savings account. However, you may not want to enter into that risk. You may want to consider bonds and various other safe investments.
Also, you are probably working somewhere, so it is important that you take advantage of any employment plans that are available to you. These are plans such as your 401(k) and your IRA. They will match your contributions up to a certain percentage to help you prepare for retirement.
Even when you are older it is important to take advantage of these accounts. This is when you may also want to take advantage of 5 year investments and other shorter investments. You want to make sure that you're set when you retire, so you have to go with that investment that is appropriate for your age.
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