Investments to make after the wedding
When you first get engaged, planning your wedding is the most important thing to do. Most of your time, energy and money no doubt is going into planning a wedding day that is perfect.
However, one of the most important pieces of wedding preparation you can do is to think about planning towards your financial future. Boring I know, right?!
As a couple, you have the potential to put your money together so that you can future-proof your investments for later on in your marriage. If you’re not sure where to start, here’s a breakdown of some of the investments you could consider making with your new spouse after you say ‘I do’.
Investing in property
Everybody needs somewhere to live, and if you and your spouse are in a position to, property is probably one of the most future-proof investments you can make. The good news is that you get to make the most of your investment while living there. House prices are pretty much always guaranteed to rise, which means your investment can mean getting the chance to make more money on your property long-term. As your family expands you will be able to afford a larger property and when the kids fly the nest, you get to use the money to retire somewhere smaller and enjoy the profits!
Stocks and Shares
Learning how to invest in stocks can be complicated, but it doesn’t have to be. In fact, it’s one of the most popular ways that people start out investing. The longer people trade, the better the idea of what to look out for they have.
One of the most important things to know is that the stock market can fluctuate depending on what is going on in the world and which industry your stocks are in. To be certain about what’s in store for your investments, It’s always best to speak with an advisor about how to manage your stocks and shares if you’re unsure.
Your own enterprise
Having your own business is an excellent investment. Not only can it be a great way of making money using the skills you have, but there’s also the potential to grow your own enterprise at a later date.
You’ve likely picked up a skill or two by planning your wedding. Why not put that all to good use and start your own event planning business, for example? There’s much to be said about people who run small businesses and make a success of it.
Get Onto Saving
Weddings can be very expensive, and you may have used quite a chunk, if not all, of your savings on your wedding. However, all is not lost. Open up a long-term savings account that can only be accessed after a certain amount of time or once a goal has been met.
Certain savings accounts can be very high interest which means the more you put in, the more you get out of it – great news for a forward-thinking couple!
*This is a collaborative post.