There’s a book called The Top 10 Distinctions between Millionaires and the Middle Class. In which, the author talks about how rich people plan-year-to year and the very reach plan decade-to-decade. Of course we want to  become very rich. So it’s time to plan for the long-term.
Now there is a major difference between investing and trading. Keep that in mind as you read this article.

Traders follow fads, investors are in it for the long haul. Investing is what we’re after. Trading usually involves a lot of screaming and yelling. No one needs that in their lives.

Investing is such a broad term. It can mean investing in market commodities such as gold, it can mean investing in real estate, it can mean investing in mutual funds and it can even mean investing in yourself. The options are near endless. There’s a great Kiplinger article about how to get started investing (link here). But this post can serve you well also.

Savings Bonds: Most of you probably know about these and if you have any spare income lying around, these are definitely worthwhile looking at investing in. Since these bonds are backed by the US Government, they can be considered a low-risk opportunity as you are able to withdraw your cash at any time so it can act as both a short term and a long term investment. But keep money in a bond for maximum benefits. When investing, it’s smart to have roughly your age in bonds. The rest can be in equities such as mutual funds or even individual stocks.

A 529 Plan: Are you a current or future parent? Are they already pestering you with their dreams to become the next MIT tech-genius or Harvard Medical graduate? College is expensive, no way else to slice it. But a 529 plan is a potential option that has been designed to assist you in saving tax-free for their futures. It can be applied to their costs whether for tuition, textbooks or dorm costs. You can also prepay for college in many states. It may not be the best investment (your money could probably earn more in the stock market that by prepaying college) but it offers great peace of mind. And isn’t that what having money is all about? Something to think upon.

Roth IRA: Considering your retirement plans. This is a method to save up to $5,500 per year per person for you and your partner, or up to $6500 if either of you are over the age of 50. You can contribute post-tax dollars which can be redeemed when you’re older tax-free. It’s quite an amazing product.

Although these are just a limited selection of the options available to you, please ensure that you plan your investments carefully and bear in mind when you are likely to want your cash back before you start. The last  thing that anyone wants to find is that they have invested their money in a 5-year scheme with early-withdrawal penalties should their circumstances change with a new arrival or medical issues. Invest carefully.

But please, don’t get too worried. With any investment above, you are nearly guaranteed to do better than by keeping the money under your bed collecting dust.

Good luck with your plans in 2016! May it be your most lucrative year yet!