The cost of living in Australia is rising fast, consumer debt from credit cards to student loans is at an all-time high, whilst the level of income inequality has plateaued since the GFC, wealth inequality has continued to grow and today's millennials are feeling the pressure.
If you're a millennial, you can better alleviate your financial fears and balance the competing priorities of your current needs and your future financial goals.
Learn to control what you can with these simple steps toward investing:
Keep costs low.
Maximize the power of regular micro- investing.
Diversify your investments
1. Keep Costs Low
You can't control the market's ups and downs. But you can control the costs of investing in the market. Fees and expenses matter. Every dollar that you pay for transaction fees and commissions, is a dollar that reduces your returns. So invest through a provider that has transparent and low cost fees.
2. Maximize the power of Micro-investing:
For millennials facing a retirement that could last 30 years or more, it is never too early to start saving. Micro-investing is the modern day answer to the piggy bank. As the name implies, micro investing allows you to invest money in small amounts, often automatically.
With the power of micro-investing and time on your side, you could start earlier, and invest less money, regularly – but in the end have more to spend.
One of the most important principles of investing is to ensure that you have a diversified portfolio. This means ensuring that you spread your capital amongst different investments so that you’re not reliant upon a single investment for all of your returns. The key benefit of diversification is that it helps to minimise risk of capital loss to your investment portfolio.
How can we help?
Launching in 2019, taurex.io is an Australian based digital asset investment platform with zero trading fees. This means that you can invest as little or as much as you like, as often as you like. You’re in control. Start building for your future today. Simple.
But we're not just about trading, we're passionate about education and research, to help you be the best educated investor that you can be.
If you haven't registered to receive our updates yet, just head over to www.taurex.io and join us.
The information contained on this website is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.