Investing can be a scary concept. For young college students with
bright futures, like Dylan Bednarz, investing in the future from an
early age can be a smart move. Despite the natural inclination to simply
save money or spend when there is a little latitude with the budget,
investing extra income now can lead to more financial freedom in the
future and higher quality of life and security. As with any form of
spending, it's okay and encouraged to be cautious. This caution is
especially useful when initially investing and having a lack of
experience or funds to make big moves.
Investments allow a person
to take advantage of compounding interest. Rather than simply storing
money away for the future and never actively growing your savings, a
person would be left with significantly less upon retirement than if
they had invested in sound, long-term plans. The difference can be
striking, since compound interest is when money is continuously earned
on the principal sum of money invested as well as the interest
previously earned, a person can earn a significant amount more than
someone who chooses to store money away in a bank account.
Dylan Bednarz is a chemical engineering student at the New Jersey Institute of technology with seemingly endless possibilities in his future. As he continues his education and seeks higher paying positions, it would serve him well to look into investments in the stock market in order to grow his wealth long term and be financially comfortable later in life.
Sources: http://einvestingforbeginners.com/2013/04/03/investing-for-beginners/
Investments allow a person
to take advantage of compounding interest. Rather than simply storing
money away for the future and never actively growing your savings, a
person would be left with significantly less upon retirement than if
they had invested in sound, long-term plans. The difference can be
striking, since compound interest is when money is continuously earned
on the principal sum of money invested as well as the interest
previously earned, a person can earn a significant amount more than
someone who chooses to store money away in a bank account.Dylan Bednarz is a chemical engineering student at the New Jersey Institute of technology with seemingly endless possibilities in his future. As he continues his education and seeks higher paying positions, it would serve him well to look into investments in the stock market in order to grow his wealth long term and be financially comfortable later in life.
Sources: http://einvestingforbeginners.com/2013/04/03/investing-for-beginners/
