At the end of the year, we purchase a lot of gifts for people, but what if you looked at investing as another type of gift? Investments aren’t just savings accounts; they can be an investment of time, energy, planning, or finances into a dream for the future and a vision for your life.
If you own a business…
The end of the year is a great time to look at anything you want to purchase before the clock turns to 2024 because (depending on the item) you can write it off on your taxes. If you have the amount to do so, changing from a monthly subscription to an annual subscription can save you hundreds to thousands of dollars a year.
Another great thing to look at is how you are investing in your growth and what that looks like for you. Growth investments could be hiring a coach, taking classes, finding a virtual assistant, or renting space to sell your goods or services. Investing now can help make the next year run much more smoothly.
If you have kids…
Investing in kids may feel like it’s only for college funds. Although teens may choose not to go to college, cultivating a portfolio for them is always a good idea so they can use those funds as needed. Perhaps they use it for a trade school or college, or that is savings to pave the path when they turn 18. You can look into an annuity, CDs, or even setting up a brokerage account for your child. Teaching them what it looks like to save wisely will take time, energy, and money, but it will have a return on investment in multiple ways in their life. They will have the language and the ability to know what they need to look for when it comes to being financially wise.
If you love to travel…
If you want to save money for traveling but find that you aren’t, there are a few options for investing, like a short-term bond or even a time-share, where you own part of where you will be traveling. The end of the year is also a great time to look at where you are investing your time when refilling your tank, not just
your RV tank but time away with your family or friends to refuel. Perhaps an investment looks like buying a flight, and committing to a trip with friends, so it doesn’t get pushed off another year. To leverage your purchase, sign up for the airline’s reward system and pay with a card that gives you cash back or more travel points. We often think about investments as just saving for the future, but investing can also mean putting money towards memories that will have an impact.
If you want to save…
If you’re doing the budget and looking ahead for 5, 10, and 50 years or looking at retirement funds to discover the best use of your money right now, this is a fantastic time to sit down with a broker. Talk to Navy Mutual about what you want to put that money into. Annuities are game-changing; life insurance is excellent and can be a parachute in hard times if you pass away unexpectedly. It’s the most wonderful time of the year to ask yourself: Do you have a high-yield savings account? Are
you putting money away into a Roth IRA? Is your money going to the places you desire? Having your money in the right areas can allow you to move towards different goals simultaneously. In whatever way investing looks like for you this year, Navy Mutual is here for you to make financial choices that feel supportive of the life you envision. Whether you have kids, love to travel, are thinking about getting out of the military, or dream about being on a boat on the ocean, investing can help make
your dreams come true in 2024 and beyond.
If you have questions or want to learn more about creating an annuity for your family, head to Navy Mutual to talk to an agent. Remember that your choices today can create ease in the future, both for you and your loved ones. An annuity is simply one tool you can use to do just that.
This article is sponsored by Navy Mutual. Protect your family and your future. Navy Mutual provides affordable life insurance and annuities to those who have answered our nation’s call. If you are active duty, in the reserve or guard, or retired from any branch of the United States military or uniformed services, we’d be honored to serve you. Click here for a quote today!
About the Author:
Aj Smit is the author of the book Red Thread: Weaving an Embodied Life of Joy, speaker, glitter enthusiast, and professional weaver of Joy. She is a military spouse in S. Korea with a pup and houseplants galore. Aj has led various Red Tents, retreats, and workshops internationally over the last ten years to help others discover how to weave creativity and curiosity into their lives. You can find her on Facebook and Instagram at @TheJoyWeaver and TheJoyWeaver.com