Do you invest your money? If not, it's a move you should strongly consider to bolster your future financial security or to realize some profits. There's no need to wait until the middle of your life, either. You can and should invest as early as possible.
You'll want to begin investing because it's a surefire way to secure your future. You may not have a job forever — but you can always increase your money through stocks, bonds, futures and more.
It's critical to start sooner rather than later so your assets have time to grow. If you're financially stable with access to an emergency fund, you should start investing. This way, you can continue living life as usual even when you've tied up your cash.
Here are eight facts that demonstrate why you should invest your money.
1. 41 percent of Gen Z feel anxious about their financial situation.
Many college students feel concerned or worried about their financial situation. A person who invests their money can be more confident. That's because they know they have assets secured elsewhere. In 10 or 20 years, they could reap those benefits.
2. 37 percent of affluent Millennials are knowledgeable about investing.
Did you know that only 37 percent of affluent millennials know something about investing? Your financial situation doesn't reflect your knowledge level. In other words, you can invest as successfully as anyone else. The time you take to educate yourself today will only help you later.
3. Nearly half of Millennials use over 30 percent of their credit limit.
The COVID-19 pandemic has created numerous financial problems for Americans. Millennials have resorted to overusing their credit cards to make ends meet. Investing your money into a fund sooner rather than later can help you navigate unprecedented situations.An exchange-traded fund (ETF) can be an easy way to start. You can use an online tool to manage your ETFs so you can get the most out of mutual funds and stock trades. As a result, you'll take steps to be more financially responsible.
4. One-third of Millennials and Gen Z say COVID-19 negatively impacted their finances.
Millennials and Gen Z have seen an extreme impact on their finances due to COVID-19. If you spend time learning how to invest, you can avoid similar situations when you're older. You always want to be prepared.
5. 28 percent of Gen Z has contributed to a retirement fund.
This number may seem big, but it could be larger. As of 2020, 28 percent of Gen Z have put money into a savings account intended for retirement. That's an excellent start for young adults. If they continue periodically, they'll be well on their way to an easy and early retirement.
6. 27 percent of Millennials don’t have any savings.
Today, 27 percent of Millennial Americans don't have a savings account. It's essential to have that backup fund for your future. If you have a secure emergency fund, you should think about investing in ways to boost your savings.
7. Over half of Gen Z worry about their financial future.
About 51 percent of Gen Z feel anxious about not having enough money later in life. What if you don't have the money to do what you want when you're older? Investing will ensure you have the funds to reach your goals.
8. 24 million Americans have provided financial support to their adult children amid COVID-19.
This COVID-19 financial statistic sticks out among others. The pandemic has urged 24 million older Americans to give or lend money to their adult children. That's because they're having financial difficulties that need immediate attention. COVID-19 won't last forever, but you should set yourself up for future financial success.