When you start looking at investments of all sorts, you are going to find that there are a lot of opinions about how it should work and what it’s going to do to benefit you in the long run. That being said, whether the lululemon share price is up or down, you want to make sure that you have a few goals in mind when it comes to investing in everything. Here are some things you may consider investing in.
– Retirement funds: IRA’s and 401k’s are the best plan for this. CD’s are also a safe option. Why? Because this is something you really don’t want to take a lot of risk on. You can put some money in the stock market toward this, but overall, the best plan is to stick with safer investments.
– College education. CD’s and bonds are two of the most common ways that people invest for a child’s college. But, you can afford to take a little more of a risk than you would for retirement funds. Why? Because for college, loans and grants are available. You don’t quite have that flexibility with retirement.
– Just to learn how/Because you like to take risks: Now, this is the place you can afford to take the most risk. Why? Usually, you’ll want to set aside a certain amount of money (say, $1,000) that you want to put into the stock market. If you’re using it as a learning experience, you can lose some of it and it’s not as big of a deal as it would be for actually saving up for something.
– Vacation or holiday money: Many financial institutions have what’s called a vacation club or Christmas club account. Basically, you pop money in there, it accrues interest, and you can’t touch it without a penalty.