For many early 20-somethings that are freshly graduated and are now facing credit card and loan bills, the last thing on their mind is investments. Your new job can just about cover rent and groceries but the limitless pocket money of your youth is now a distant memory. Granted, saving for retirement may be a far fetched idea with the mountain of immediate payments piling up; however this does not mean that young Canadians should ditch investing entirely!
Instead, millennials must take a different approach to investments than older generations. But what exactly can you do without jeopardizing your immediate future?
The most important advice is the simplest: begin now. Excess cash you have been sitting on is begging to be spent on a new pair of shoes or a fancy dinner, instead investments as small as $50 will reap rewards years down the road.