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Wednesday, February 18, 2009

Is It Wise To Invest In This Economy?

By M Taylor

With the unclear financial outlook for our economy, investing makes sense like never before as a strategy to save for retirement.

Everyone wants to make sure that they will have financial security in their retirement; and social security and retirement plans may end up leaving them in the lurch ultimately. Investing is one way to insulate yourself from the unknown developments that the future may hold.

Perhaps you have been setting money aside for years in a low interest savings account. You'd like to see that money grow much faster. Maybe you've come into some money and would like to have that money grow too - in either case, investing is the way.

Investing lets you make the money you need to make your goals a reality. Whether it's a new home, a college education for your child or the good life for yourself, investing is the way to go - your individual investment strategy all depends on your goals.

You can go for high risk investments if you find yourself needing to make a lot of money quickly. There is a risk of course, but you can make a large amount of money in a short time frame. If you want to put aside money for your retirement, you need to instead make long term, safer investments.

Increasing your wealth and financial security over the long run is what investing is all about. Keep in mind that you'll have to retire eventually; and you'll need a good amount of money to make your retirement an enjoyable one.

The social security system may or may not be there for you when you retire, so it is best not to count on it. As we saw in the instance of Enron, you may not be able to depend on your company retirement plan either - this is why investing is the way to go to make sure that you will be provided for in your retirement. Good luck and invest wisely!

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