Connect with us

INVESTING

How millennials can get ahead with their money

How millennials can get ahead with their money 29

By Granville Turner, Turner Little

Millennials are often painted as globe-trotting creatures that spend more money on avocadoes than their future. But that can’t be further from the truth. Millennials tend to be good savers, at least compared to other generations. Industry data shows that more than 70% of millennials have started putting money away for retirement and beyond.

“Millennials still struggle with investing. Often because they feel they don’t know enough about the market, but it’s never too late to invest in your understanding. It’s a great way to make your finances work harder for you,” says Granville Turner, Director at company formation specialists, Turner Little.

Here are some things you can start doing now, or preparing for, to set yourself up for a future of learning and investing:

Start early

The most apparent advantage millennials have over older generations is the luxury of time. Whilst everyone can weigh up the risks and rewards of investing, you’re particularly well-placed to see a solid return on your investments.

Granville Turner

Granville Turner

Challenge risk

When you invest money for longer, you can become less phased by the ups and downs and be able to view inevitable declines as opportunity instead. It’s better to look at yearly or even longer figures for a more accurate reflection of performance.

Put your money to work

Money that sits in a savings account, uninvested, is almost certain to lose value over time due to inflation, or a creeping higher cost of goods and services. If your money is growing or earning you a return, it’s going to help you reach your financial goals faster.

Start small

Many millennials believe you need to have a serious amount of money to start investing. But in reality, even small contributions can build over time. The important thing is to start early, and make it a habit.

If you’re ready to start having the right conversations about the future of your finances, get in touch with us today. With years of knowledge and expertise, we’ll be able to assist with any enquiries, no matter how complex.

Continue Reading

Recent Posts

The lockdown money revolution 30 The lockdown money revolution 31
FINANCE2 days ago

The lockdown money revolution

By Granville Turner, Director at Turner Little. Many Brits have found that lockdown has been beneficial for their money, having...

Self-employed taxpayers and Making Tax Digital 32 Self-employed taxpayers and Making Tax Digital 33
BUSINESS2 days ago

Self-employed taxpayers and Making Tax Digital

By John Hemming, CEO of Cirrostratus Exedra, the company that runs the VAT Direct Making Tax Digital Service The HMRC’s ambition...

Auditor regulation and litigation - down to the Wire(card)? 34 Auditor regulation and litigation - down to the Wire(card)? 35
BANKING2 days ago

Auditor regulation and litigation – down to the Wire(card)?

By Tom Snelling, partner at Signature Litigation and David Entwistle, a regulatory lawyer and legal risk specialist Introduction The collapse...

Why it’s time to adapt to the virtual world: how to master online negotiations 36 Why it’s time to adapt to the virtual world: how to master online negotiations 37
TECHNOLOGY2 days ago

Why it’s time to adapt to the virtual world: how to master online negotiations

By Tony Hughes, CEO at Huthwaite International, a leading global provider of sales, negotiation and communication skills development Virtual negotiations...

Protecting against man in the middle attacks with dynamic linking 38 Protecting against man in the middle attacks with dynamic linking 39
FINANCE1 week ago

Protecting against man in the middle attacks with dynamic linking

By David Vergara, Senior Director of Product Marketing at OneSpan In recent years, the booming growth of mobile applications has...

The Case for Banks to Digitally Transform: Iterating out of lockdown 40 The Case for Banks to Digitally Transform: Iterating out of lockdown 41
BANKING1 week ago

The Case for Banks to Digitally Transform: Iterating out of lockdown

By Sudeepto Mukherjee, Senior VP, Banking EMEA & APAC, Publicis Sapient. Before COVID-19 disrupted every imaginable part of society, banks...

Difficulties of Getting on the Property Ladder Post-Pandemic 42 Difficulties of Getting on the Property Ladder Post-Pandemic 43
LIFESTYLE1 week ago

Difficulties of Getting on the Property Ladder Post-Pandemic

There is a lot of talk about what’s going to happen to the housing market over the next few months....

Russian Doll: Building digital capabilities into a bank’s core 44 Russian Doll: Building digital capabilities into a bank’s core 45
BANKING1 week ago

Russian Doll: Building digital capabilities into a bank’s core

By Ian Johnson, Managing Director of Europe, Marqeta COVID-19 has left its mark on every industry, and banking is no...

How the US and Europe's COVID-19 Responses Have Affected Exchange Rates 46 How the US and Europe's COVID-19 Responses Have Affected Exchange Rates 47
TRADING1 week ago

How the US and Europe’s COVID-19 Responses Have Affected Exchange Rates

In living memory, few events have thrown the reputations of different countries and regions under such intense scrutiny as the...

Recognising the surprise PE investment potential in southern Africa 48 Recognising the surprise PE investment potential in southern Africa 49
INVESTING2 weeks ago

Recognising the surprise PE investment potential in southern Africa

By Martin Soderberg, partner at SPEAR Capital. An event of historic significance passed largely unnoticed in the world’s media recently,...

Why Banking is experiencing a second wave of transformation 50 Why Banking is experiencing a second wave of transformation 51
BANKING2 weeks ago

Why Banking is experiencing a second wave of transformation

By Keith Pearson, Head of Financial Services EMEA, ServiceNow The financial landscape has seen significant changes in the last six...

Making your mark: an introduction to trademarks 52 Making your mark: an introduction to trademarks 53
TRADING2 weeks ago

Making your mark: an introduction to trademarks

By James Turner, Director at  Turner Little  Are you looking to protect your brand? The chances are, you are –...