3 Things Couple Needs to know on Investment
3 Things Couple Needs know Investment Couple Goals to save and to invest.
1. Open a Joint Account and links to a Brokerage Trading Account
Just head down to SCB and tell them both of you want to open a joint account and a trading account.
It is free anyway, just remember that the BonusSaver account requires a min balance of $3,000. The rest is free – trading account.
2. Trade as Couple
We share happiness, joy, tears, sadness as a couple. Went through ups and downs and what is our ultimate goal as a couple? Those to-be-achieved milestones? If yes, start making money to work for both of you. Lihai couple has yet to achieve all the milestones, thus we created this blog to start penning down this journey and we hope to share with you and your significant other.
We can take risks together as a couple. Just like going an overseas trip as a couple, we had already took implicit risks like plane crash, accidents, natural disasters, etc. These are unforeseen circumstances.
So investment risks are needless to say. We often hear people money is hard to earn, we need to save. Investment or even trading will cause you to lose more money. Gf believed this statement which is why she only put 5K after 10 months of working. Thanks to Bf who has been convincing her and putting investment actions so that Gf would start to take actions.
3. Set a Couple Target for a Money Milestone. Start Taking Actions.
Do both of you have a target of how much should we have at the end of 201x? This is as important as savings. Everyone has to save and we must have a saving goal.
For us, both of us decided to set an individual target to achieve our collective target as a couple. Gf is awesome in financial planning and told Bf that each of us ought to have $100,000 within/at the end 3 years. In another word, both of us must have $200,000 at the end of 2017.
To be honest, we are actually far from this target. This is why Bf decided to agree to open this joint account so that money can work harder for us. It comes with market research, stocks news and knowledge. We do not buy stocks blindly. Recently, he had started to do some trades and he gained about $2,500 till date. It is not a big big sum of money, but this is an effort and time that he took to study the market and took investment risks to reap returns. Returns come with risks, duh…
Come back to our target of $200,000, we are still far from this goal and thus we took actions so that we are nearer to our goal and ultimately to achieve many milestones we have in mind as a couple.