3 Tips for Short Term Investments

Today’s marketplace is competitive, especially as the traditional system takes a backseat to the global economy. Practices such as international money exchange, offshore investments, and outsourcing opportunities are constantly changing the financial landscape- some for the better, and others for the worse. But there are still opportunities, right?

In the recent past, most of us have turned to financial institutions, such as banks and credit unions, to manage our money. However, conventional investment opportunities are becoming outdated as distrust for lending institutions has grown alongside interest rates and bankruptcy filings. So, how do you know who to trust and where to invest your hard-earned money?

While most financial advisors are still pushing long-term investments, short-term are undoubtedly the most sought after- and with good reason. Investing a small amount of money in a short-term investment can produce a high-yield in just a short time, but it can also be a quick “game over” for the unprepared investor. That’s why we’ve prepared a few tips for the short-term investor; a bit of due diligence to help you avoid common mistakes and save you from losing your shirt.

Do Your Homework

An effective investment requires thorough research, including the collection of data concerning the market, the company and/or project you’re investing with, and the feasibility of that company and/or project being successful. Before you dive into an investment opportunity that looks “too good to be true”, remember that sometimes those opportunities are too good to be true.

One way that you can protect your investment is to research the company or project that you’re supporting. Make sure it is a reputable and legal operation, check reviews, and look for fraud alerts on the internet. Once you are sure everything is legit, make sure the opportunity is one that has a high chance of success and you’re on the right track.

Don’t Be a Hero

The global marketplace is crawling with innovative ideas, especially when it comes to technology. Crowdfunding has changed the way people view, find, and support projects however not every innovative project is a success. History repeats itself for a reason and sometimes, trending investments are short-lived.

Be wary of investment opportunities that claim to have a high-return in a short-period of time. They may have the possibility of yielding a high-return, but they also have the possibility of instant bankruptcy for the entrepreneur who has nothing to lose. And, you don’t want your investment listed on the bankruptcy roster.

Follow the Money

Where there is already a steady cash-flow, there is bound to be more. Of course, this is not always true and businesses do occasionally take a turn for the worst, but for the most part, a business with revolving capital and assets is less likely to take a dive. So, if you see a good investment opportunity with a stable company, chances are they are running a short-term campaign for a special project using your investment. This is a win-win situation because they want to fund something that they know will make money while you benefit from their success.

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Can I Create My Own Cryptocurrency?

For you to be in a position to make your own cryptocurrency, here are some of the things for you to follow.

Build A Blockchain

The first step towards a creating the best cryptocurrency is building a blockchain. Blockchain technology is the background and of every cryptocurrency that you see in the world today. A blockchain has contained the details of each cryptocurrency.

It is a ledger that shows the background of every cryptocurrency that you have. It also shows more details of who owned the cryptocurrency coins previously before you.The best cryptocurrencies have a very effective blockchain technology.

Code

All the software’s that you see on the internet are made out of a code. This is the same case with cryptocurrency. Fortunately, a majority of the cryptocurrency is made using the same code. Mainly, cryptocurrencies are made using the C++ code. You can outsource all the codes you need from GitHub and use them to make your cryptocurrency. However, the code will vary from your specifics. If your blockchain is longer and faster you must add programs for that. Generally, programs can vary from one week to several months when making a blockchain.

In order to make the best cryptocurrency, one needs to ensure he has put the greatest level of security to be observed. There are hackers everywhere and it is always your role to alienate the hackers. One powerful tool that has been used to alienate hackers is the use of private and the public key. This is because every key is generated from the previous key. Through the use of cryptography, each key can be traced from the first transaction ever made.

You should also ensure that you create a pool of miners. For a stable cryptocurrency like bitcoin? anyone can be a miner. A miner does two things.

-Creates the crypto coin

-Authenticates the cryptocurrency.

You must form a standard way of creating and authenticating your cryptocurrency.

Access The Market Needs

Many cryptocurrency experts have said that the most important part is accessing the market needs. You should be keen and observe what other cryptocurrencies are not offering and offer them yourself. If we look at the biggest cryptocurrency in the market, today bitcoin.

It was formed to bring a faster transaction in the online world. Bitcoin also gained much recognition because it was able to hide the identity of the users. They remained anonymous but one could still make a legit transaction. These are the most important parts to keep into consideration when creating a cryptocurrency.

To make a very successful cryptocurrency, you need to ensure that you are able to do proper marketing of your cryptocurrency. This means going to merchants and requesting them to accept your cryptocurrency as their mode of payment. These are generally some of the best ways in creating the crypto coin.

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Top Ten Financial Mistakes Young People Make

Most young people dream of becoming financially independent and even rich by the time they are past middle age. However, most of the time, this depends on a host of factors, the most important of which is how financially responsible they are. The issue of financial responsibility is unfortunately very difficult for many young people to grasp, and this in turn means that they may not have a chance to put their financial life in order when they are young. There are a few mistakes that most of them make, and which often have a negative impact on their finances. Some of these include:

Not making full use of discounts

These days it’s very easy for one to use discounts to buy various goods and services. For instance, you could go online to get coupons and then use them to buy whatever you need at a much lower price. However, the problem is that most young people don’t think much of such discounts. The fact that the nominal value of each normally seems very small usually makes such individuals think that they won’t save much anyway if they used the discounts. However, this is essentially faulty reasoning, since regular use of such discounts has beneficial effects on long-term finances.

Improper use of credit cards

Most youngsters also have a difficult time using credit cards and other forms of credit. For instance, they might fall into habits of not paying off the bills on time, which could end up ruining their credit scores. This is not a good thing when you consider the fact that they do this from an early age, which means that when they reach middle age they usually have very bad credit scores. This in turn means that it would be difficult for them to get loans or other forms of credit at friendly rates.

Not getting a hang of budgeting

When you need to take control of your finances, one of the most basic yet important skills you can have is how to budget. However, most young people don’t do this right, and this means that they end up having a hard time later on. With the advent of Internet Technology and the use of apps, budgeting should be very easy to do today compared to the past. The fact that economic times are harder today compared to in the past also means that most young people have more to lose by not budgeting properly, so this is something they need to keep in mind.

Not assessing limits when getting credit

In life, it’s usually necessary to get a loan or mortgage to buy something of very high value such as a house or a car. In fact, it’s better to do this when you are young, since it means that you will have enough time to pay off the debt before you get too old to enjoy your investment. However, one problem that most young people make is not applying for such things in the right manner. For instance, they might not adequately figure out how much of a debt they can handle, and then end up chewing off more than they can swallow. This often leads to problems such as difficulty in paying back the debts.

Not keeping in mind the fact that little things do matter

Some habits count as little things, and these tend to add up over time. For instance, there are some people who make a habit of drinking coffee regularly, even if it’s evident that they would still be able to function without it. Most of the time, this is done with the idea that this habit is not very expensive. However, the costs of these little habits can add up, and with time you may end up spending a huge chunk of your income on them. It’s therefore best to take even the smallest of expenditures wisely, especially if they are regular.

Not having an emergency fund

Whenever problems that need urgent attention crop up, most people who don’t have emergency funds to handle them end up having a difficult time handling them. In some cases, they might have to borrow money at exorbitant rates in order to deal with them. Making sure that one has an emergency fund for such occurrences is wise, and ultimately cheap as well.

Using automatic payment systems

Using automatic payments seems like a good idea. The fact that they get deducted from your account automatically means that you need not focus on some of these recurring bills, which is a good thing for a busy young individual. However, some of these payment services cost money, and there are times when you may end up over drawing your account as such costs eat into your deposits. If you want to take control of your finances, it would be easier to set reminders to pay such bills manually.

Getting joint accounts

Most young people open joint accounts with their partners on a whim. However, this might turn out to be a source of trouble, since you may end up having trust issues and even having disagreements over how money is used. Before doing this, it’s wise to first iron out the fine details such as how you are going to operate the account, and who will be responsible for what expenditures.

Not understanding ATM fees

Most people draw money from ATM’s, and this might turn out to be a drain on resources if one does not understand how they work. It’s important for young people to minimize how much they spend on ATM fees, such as by always withdrawing from ATM’s of their banks, and also making sure that they minimize the number of withdrawals they make.

Having no long-term plans

In order to secure themselves, people need to have long-term plans, and also make a point of making such plans work. This is something that most young people don’t think of, mostly because they don’t find it necessary given how much time they have. However, this is an attitude that should not be used. Having long-term plans increases the chances of one being at a better place by the time they are at a more advanced age, at least in terms of finances.

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Savings Accounts VS Investing Accounts

Savings Accounts

Savings accounts do have great benefits. Savings should be allocations of cash put aside for short term goals. Savings should also be used for personal expenses like loan payments, utility bills, and insurance. Savings accounts should also be used for anything in life that will require a large amount of cash in five years or less. The stock market can fluctuate and losing value of money while trying to achieve a short term goal is counter productive.

Investment Accounts

There are numerous types of investment accounts. There are a plethora of services offered with both discount brokers and full service brokers. Most people go to full service brokers because they like face to face transactions and customer service while others prefer internet based discount brokers because they don’t value face to face interactions. Since Millennials are tech savvy and don’t have money to be throwing away for steep fees, most young investors go the discount route.

I own an account with a discount broker because I like to micro manage my investments and I firmly believe Millennials should go in this direction as well. Most accounts are free to open, and I highly recommend using TD Ameritrade because of their vast array of pointers and customer service that goes above and beyond most other companies.

Accounts

Once you’ve found yourself a brokerage firm that you find fit for your needs, its time to determine which account type fits your needs. Account types include a Roth IRA, Traditional IRA, Cash, and Trust. Brokers will offer more sophisticated accounts as well but most new, young investors won’t need to dabble in those right off the bat. Each account has its perks but to start out, a cash account is the most efficient. It’s essentially a bare bones trading account that allows for deposits and withdrawals along with trading abilities.

Commissions

Most brokerage firms charge commission fees. There’s no getting around these pests unless your account is through Robin Hood but there is a learning curve and TD’s customer service is worth the $9 per trade commission; at least in the beginning. These commission fees are, essentially, the cost of transferring your cash into a stock purchase which is then put in your account for you to monitor as it grows (or declines). Although some brokers may offer lower trade fees than others, they are often indicative of other aspects like customer service, technology, and trade speeds so it’s not always best to be cheap. On the flip side, full service brokers can charge up to $200 per trade which is far too steep for most Millennials just looking to put a couple hundred dollars away at a time.

Other Fees

The finance and banking industry is really good at hiding fees for unknowing victims. Brokerage firms can charge for inactivity, margin, mutual fund trading fees, and much more. This obviously is a deterrent however, once again, I’ve found TD Ameritrade is the most upfront about their fee structure and it usually doesn’t have any impact on novice traders. Another angle of attack is account minimums which is an obvious roadblock for most Millennials. That being said, TradeKing, USAA, and TD Ameritrade have no minimum.

Research

Brokerage companies provide clients with research technology to manage their assets with. Most have online platforms that are coupled with mobile apps along with a downloadable trading platform for computers. The more active you intend on being the more high tech you want your research platforms to be. The vast majority of brokers will provide streaming quotes which are real time stock prices and they fluctuate through the trading day. They will also provide databases and screeners to allow for stocks, bonds, preferred stocks, mutual funds, futures, and other positions to be discovered and purchased.

Bottom Line

Investing accounts are a necessity for long term wealth management and growth because they give money access to grow more than any other method of saving. It’s a good rule of thumb to be putting away at least a couple hundred dollars a month into one of these accounts so a retirement fund can start building early. Although it seems intimidating to most, it’s a necessary step into adulthood and will pay off drastically in the future.

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Benefits of Credit Card Machines for Business

Other than credit card machines, technology has produced many notable effects, including the credit card machine. In the 21st century, people open themselves up to technology from the very center of their being. It has the added benefit of leading to an increase in the use of credit and debit cards. Additionally, the coronavirus’ arrival has also contributed to the increased use of contactless transactions. EMV cards are replacing magistrate premium cards. EMV chip cards give you the ability to make contactless payments. The merchants must have advanced payment terminals to accept such payments.

Credit and debit cards are used almost exclusively in today’s business world. To take your business to the next level, you must associate it with a credit card machine. The processing and payment services you need for online sales include a merchant processor that provides you with an online payment gateway. There will always be online modes that people will prefer to use, regardless of the volume of transactions. As a result, you have to use an advanced piece of equipment, such as a credit card machine, in tandem with your business.

Advantages:

Just because we’re living in the 21st century, it’s impossible to conceive of life without modern technology. A large number of businessmen prefer to stick to established business models. However, sometimes you have to alter your plans according to the current situation. This means that you need to be one step ahead of everyone else in the business. You will lose customers otherwise. An establishment that gets access to a credit card machine will enjoy countless benefits. Listed the benefits; so, don’t miss the following:

Obtain Legal Recognition for Your Company:

Accepting card payments using digital payment terminals is a legitimate business practice, so it should help your company a lot. The card brand name will be printed on the POS, and thus the customers will have no problem noticing it. This logo will be featured on the same online marketplace as well. The greater the number of customers from outside the country, the more money you’ll make.

Increase Your Profitability:

To accept various forms of payment, like credit cards, Google Pay, Apple Pay, and more, use a credit card machine at your business. Creating a positive impression on your customers is quite simple, but it also keeps your customers loyal. A credit card machine, thus granting flexibility in the ecosystem of online payment, provides customers with many payment options, thus allowing them to pay bills in various ways.

How to stay ahead of the competition:

Many businessmen have not yet fully embraced digital equipment, making small-business models in the early stages of transition. To accept online payments, your business equipment must be upgraded. If customers are no longer carrying cash, you can outpace your competitors. Research has shown that when customers use their cards to make a purchase, they spend more. Additionally, because you will make a substantial profit from accepting card payments, it’s highly recommended that you do so.

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Super Visa Insurance Monthly Pay North York

Note: SV is Super Visa

What is a Canadian Super Visa?

It is a Visa for parents or grandparents. It is a temporary resident permit that allows parents and grandparents to stay for up to 2 years in Canada per visit. Issued for parents and grandparents of citizens or permanent residents in Canada. It has validity for up to 10 years. A regular multiple-entry visa is also valid for up to 10 years, but only allows stays of up to 6 months per visit.

What is the processing time of a Super Visa?

The approximate processing time of a SV is short and takes almost 8 weeks. There are also specific requirements that one must meet before applying for a SV.

What Are The Mandatory Requirements To Apply for This Visa?

The govt of Canada has laid down some mandatory rules for parents and grandparents to apply for a SV. Those rules are,
1) Proof of their relationship with the child or grandchild who must be a Canadian citizen or a permanent resident.
2) A copy of the child’s or grandchild’s birth certificate.
3) A proof of medical examination document.
4) An official document naming the applicant as the parent.
5) A satisfactory evidence of a private medical insurance from a Canadian insurance company valid for one year from the date of entry.

Can The Parents Or Grandparents Work With A Super Visa?

No, the parents or grandparents are not permitted to work as their visa has the same restrictions as a visit visa holder.

What is a SV Insurance?

With the above information provided, now we know to whom a SV is issued and who apply for a SV. Not only the parents and grandparents require a SV, but also a medical insurance before entering Canada. The medical insurance should be no less than CAD $100,000 in coverage for health care, hospitalization and repatriation. This step is mandatory for the SV applicants.

SV applicants have to submit a proof of purchasing a medical insurance from a private insurance company.

There are a lot of medical insurance companies in Canada and North York has also got the best ones. People can go for SV insurance monthly pay North York. This facility of monthly pay gives a convenience of paying insurance charges monthly. This facility of monthly pay gives a convenience of paying insurance charges monthly.

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Setrega – A Global Analytical Regulatory Platform

Setrega is the Global Regulatory Analytical Platform which provides a comprehensive solution to the financial institutions for complying with one or more Regulatory Authorities. Through highly customizable and end-to-end automation, Setrega helps clients to configure Reporting Data, Reporting API, Connecting/Integrating Settings, Report Generation Requirements, Report Validation Requirements, Report Submission Mode and Feedback Management. As a Global Regulatory Analytical Platform, Setrega is designed to integrate with any financial services firms to receive regulatory data and process them to regulatory reports in specific formats with minimum customization effort.

Currently, all financial institutions are facing problems with dynamic changes in regulatory requirements, implementation risks associated with regulatory reporting and managing regulatory report error handling. All financial institutions are forced to adapt to these challenges and continuously seek for solutions which are cost-effective and accurate, with real-time feedback management. Sensiple’s Setrega fits into this emerging environment by supporting multiple Regulatory Authorities with an end-to-end automated solution.

Regulation Complied Preconfigured – ESMA – MIFIR/MiFID II, Monetary Authority of Singapore (MAS), Superintendencia Financiera de Colombia (SFC) etc.,
Significant benefits of the Global Regulatory Analytical Platform are,

Automation Capability

Financial Institutions gets the advantage of preparing and submitting regulatory reports without manual effort.

Comply with new Regulations without risk

Setrega provides flexible data source configuration, API mapping and reporting format changes with minimum customization in product level which ensures relief from regulatory and compliance risks for the financial institutions working in various regions.

Scalability

Depending on the Institutions type like Buy Side/ Sell Side/venues, Setrega is scalable in terms of increasing number of connections, the humongous volume of data, more number of reports and formats, increased number of submission modes and regulatory authorities.

Transparency

Handling a large volume of data gives challenges in managing data to auditing; Setrega makes it more accessible by allowing the clients to have full control over data by powerful data transparency method.

Dashboard

Setrega act as a one-stop shop for all regulatory reporting for financial institutions. A vastly informative dashboard in Setrega provides all historical, current and scheduled regulatory reports and its internal & external statuses in graphical and tabular representations.

Regional Coverage

Financial firms who run their business across the globe get benefited from Setrega as one solution solves all the regulatory and compliance needs. It is successfully verified with major regulatory frameworks like MiFID II and NFA (National Futures Association) and regulatory authorities like SEC and SFC.

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Handle Your Finances With Care

It takes years to gather a handsome amount of money, and if it is not handled properly, your most prized possession would soon escape from your hands like sand. This is the reason why people go for financial planning. It gives you a great sense of satisfaction when you know that your money is in safe hands and is being handled with utmost care.

However, not many people are aware of the process involved in financial planning. Based on your financial position, it is very important to go ahead with personal planning because if you don’t start planning well in advance, then you might face several challenges in the future.

Financial advisors suggest all individuals follow these six basic key principles for financial planning.

• Analyse your current financial status: To be able to plan for future you should first be very confident about your current financial position. Make a checklist of all the assets and liabilities and your income and expenditure. Having this information at hand, you would be in a clear position to understand how you can achieve your financial goals. Your total financial worth would help you to determine the ways to accomplish your set goals, which include paying for your children’s education, buying a new property or being ready for any financial emergency like the loss of a job.

• Chalk out your financial goals: In order to accumulate wealth, a lot of planning has to be done in order to achieve the desired goals. Setting goals would give you an urge to go ahead to achieve it. Your list of financial goals should be very specific, which would show that they are crystal clear in your mind.

• Plan for alternatives: You cannot expect your planning to go as per your wish, so you should always have a plan B at hand. After listing down your goals you plan for alternatives as well.

• Analyse the alternative options: You should ponder upon the feasibility of the alternative ways taking into account your social, personal and economic condition at present. The liquidity of your assets also matters in this regard.

• Creation and execution of your financial plan of action: Once you have planned about your alternative options and have analysed its feasibility, it is time for you to put these plans into action.

• Review your plan: Since financial planning is very dynamic process it is subject to change at any moment. So, it is always advisable to keep reviewing your plans every now and then.

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The Security Intelligence in The Financial Services

Security intelligence is the data related to safeguarding an organization from any outside and inside threats along with the processes, and policies developed to accumulate and evaluate the information.

It can also be referred to as the actual collection, standardization, and analysis of the data created by users, applications, and structures that influence the IT security and risk position of a business.

On a daily basis, information flows in organizations for the senior management to make smart decisions. The various stakeholders (employees, customers, contractors) are interfaced through various technologies.

However, the technological infrastructure can also result in serious security issues. The probable areas of intrusion are unlimited. Security experts and business leaders are trying to find an answer to the question – Is it feasible to have a robust security in an increasingly interfaced environment?

Though the answer is yes, it needs a radical transformation in processes and practices encompassing the financial services sector. The focus is not only on IT. Robust security facilitates a positive customer experience.

Cybercrime and Profitability

Financial institutions are at great risk since they are perceived to be an easy target for cybercriminals. According to a survey by IBM, “Financial markets, insurance, computer and professional services together account for over 40% of all security incidents worldwide.”

The losses, pertaining to cybercrime in other sectors could be due to industrial intelligence and fraud related to intellectual property, but in banking, online fraud is a possibility.

Any fraud related to the intellectual property and industrial intelligence could lead to reduced shareholder value, shut down of the business and net financial losses. These are the issues impacting the global financial sector, not only because the main reasons are not identified or the disruption to the customer is immediate, but also because they can result in a significant loss of money.

As per Andrew Haldane, Financial Stability Director at the Bank of England, “Cyber-risk has become a more pressing concern than economic depression and the Eurozone crisis, as it is a rapidly rising area of risk with potentially systemic implications”.

Comprehending the seriousness of the security risk is only a beginning. Financial institutions must establish an in-depth security intelligence strategy that would enable the financial institutions to have an insight into the perceived threats.

Financial institutions leverage top-notch analytics to get an understanding of:

The types of attacks that are occurring.
The probable source of the attacks.
The technology used by the cyber criminals.
Weak spots that could be exploited in the future.

Michael Davison, Banking and Financial Markets, IBM, stated,” There’s not another single issue that unites the interests of so many people at senior levels of banks. It unites technology, the CFO, security and compliance functions. But cybersecurity is also mission critical for people running lines of business and who are running P&Ls. So quite rightly it sits on the Board agenda. But there’s still work to do to educate Boards about the urgency of an effective response to the rapidly changing environment.”

Financial institutions must implement the following practices to get the balance between the required innovation and the related risk:

Establish a risk-conscious culture

An organizational transformation with an emphasis on zero tolerance towards a security failure must be established.
An initiative encompassing the organizational hierarchy to execute smart analytics and automated response competencies is needed to identify and resolve issues.

Safeguard the Working Environment

The functions in distinct devices must be examined by a centralized authority and the wide array of information in an institution must be categorized, tagged with its risk profile and circulated to the concerned personnel.

Security Design

The greatest problem with the IT systems and the unnecessary costs is from executing services initially and looking at security afterwards. Security has to be a part of the application from the first phase of design.

Ensure A Safe Environment

If the system is secure, security personnel can monitor every program that’s functioning; ensure it is ongoing and operating at optimal level.

Manage the Network

Organizations that route approved data through controlled entry points will be in a better position to identify and separate the malware.

Cloud Based Security

To prosper in a cloud scenario, organizations should possess the technology to operate in a secluded environment and track probable issues.

Involve Vendors

An organization’s security strategy must also involve its vendors and efforts must be made to establish the best practices among the vendors.

Financial firms have been a major target for malware attacks. Several aspects are impacting the financial sector. The direct connection between the breach of several personally identifiable information (PII) to the profitability has not been lost on the global financial stakeholders. This has led to the implementation of several global security projects.

A hazardous type of malware for online financial transactions is “Man-in-the-Browser” intrusions. It happens when a malicious program affects an internet browser. The program adjusts activities conducted by the user and in some instances, can initiate actions independently. It could lead to online stealing.

Financial institutions that can transform radically at a fundamental level, the way they function would be safeguarded.

The aim of enterprise security could initially emphasis on IT structures, it must be extended from the technology personnel & their systems to each individual within the organization, and all the stakeholders conducting business with it.

Financial firms must comprehend the data that they have, which must be made available to the system, where they can compare and develop a real understanding of the actual threats and contingencies that may compromise the business.

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Tips On How To Spend Your Windfall Income

As individuals, especially workers we sometimes get windfall incomes in forms of bonuses, profit shares, etc. However, a lot of the time the temptation is to spend the money on acquiring a new car, new clothes, shoes, new phones, among other things. While acquiring these things in themselves is not a bad idea, it is wiser to use windfall incomes for things that will have long term positive impart on our lives especially because we do not have a full grabs of what tomorrow will bring.

For workers just starting off or in mid level careers, it is really important not to squander windfall incomes on non-essentials.

Many years ago during the mid 2000s, when the banking and telecommunication really became big industries, many banks and telecommunication companies paid bonuses and profit shares to their staff on a yearly basis. Most new staff and mid level staff squandered their money on buying cars, renting new apartments in high brow areas and changing their wardrobes almost every 3 months. Nite clubs were packed every Friday night with each person almost trying to out do the other in terms money spent.

Today, the story is different. The global economy is almost comatose. Banks are no longer giving huge bonuses, neither are telecommunication companies doing any better. The oil industry is in shambles. Every industry is operating lean.

Windfall incomes will not come all the time as the economic realities have now shown us. So if you are fortunate to get a bonus or profit share that amounts to something reasonable, here are a few tips on how to spend wisely:

1) Invest in real estate: As much as this sounds like really over flogged, it is a wise counsel. A businessman once said, “the only Estate that is Real is Real Estate”. Real estate is big business. There is a huge demand for rental apartments especially mini flats and 2 bedroom flats. There are several real estate companies offering instalments payment options for those interested in buying land. You can invest your windfall income in buying a half plot or full plot of land. I will advice you buy from a real estate company rather than directly from the community especially if you do not have funds for immediate development.

The simple reason is that the real estate company usually would have sorted out community settlement issues with the land owners and so you can be rest assured that you land is at least secure from land grabbers. Also, by buying from a real estate company, you will benefit from quick capital appreciation of your investment and rapid development of the locations since there will be several people also buying and developing their property in that location. Another advantage of investing in real estate is that after developing the property, you can put it up for rent if you do not wish to reside in that location and use the rental income to pay for your rent in your desired location.

2) Invest in a part-time business: If you already have a business that you can run part- time alongside your full-time job, you should invest your windfall income in that business. You can buy the needed equipments or register for a training programme that will increase your expertise in that business area. If you do not already have business idea, you may want to consider doing some research to see what part-time business to invest in.

3) Invest in education: You can invest your windfall income in further education that will boost your profile and give you a better chance at a higher paying role in your industry or another industry entirely. You an also invest in the education of your loved ones like your spouse, children or siblings (if you have this responsibility thrust on you)

4) Invest in Marriage: Yes! you read me right.

This is for those who believe in marriage. If you have a partner and your really desire to spend the rest of your life with the person, then invest your windfall income towards settling down. You can start making down payments for some critical items on your list. Marriage is an investment in your lifetime happiness.

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