Double-up your benefits by looking for low-premium investment-linked insurance products. Insurance can prove to be an advantage to cover your financial crisis in times of adversity and unforeseen circumstances.
Hold true to the phrase “avoid putting all your eggs in one basket”. Depending on your risk profile, you can invest in low to high-yielding instruments with a calculated risk approach. A sound and minimally risky investment for your 20s is buying a home – property assets tend to appreciate over time.
If you are still unsure of where to start, a professional financial advisor can help you assess risks and strategise an investment portfolio for the best returns.
There is no magic bullet to get rich quick but it is not an unachievable mystery either. With these basics, you can start your wealth creation journey in your 20s no matter how small your actions or abilities and enjoy abundant wealth in your 40s.
This article is brought to you by CIMB as part of our ongoing efforts to raise the level of financial literacy among Malaysians. Financial knowledge and understanding are key to making well-informed and meaningful financial decisions towards positively improving welfare and well-being of communities. This is one of our many efforts to achieve CIMB’s purpose of advancing customers and society.
sources:
*https://www.theedgemarkets.com/article/longterm-challenges-retirement-planning
