Long term investments are required to support us at that crucial when we will not have the ability to work when we get old due to medical and health issues or any one of the million reasons due to which we will be dependent on social security or medical care cooperatives.
For some there will be an overall tendency not to work the rest of your way to life and pass time blissfully.
Moreover we can never rely on anybody at this stage.
Therefore we require long term investments to see ourselves completely settled in the future.
There is no need for being anxious if you haven't already started any type of long term investment.
It will be enough if you can deposit at least little by little every month starting from now onwards.
It is wise to do this type of investment rather than depositing a large amount at the end of every year.
This is for the reason that the dollar cost average progresses downwards, and you will be able to invest with the same stocks that have much cheaper share value.
A general advice for every person is to invest fifteen percent of your monthly salary.
It will be better if it automatically goes to the investment section before you even lay your eyes on them.
Prior to paying other unimportant bills and shopping work do this mantra of investing for taking care of all long term benefits and solve all doubts for your retirement plans.
First of all you should set certain targets.
You should decide on the amount with which you want to give up work.
If you want to retire soon in the next ten to twelve years you have to start investing a little more than just fifteen percent.
But if you have more than fifteen to twenty years before you can retire fifteen percent would do just fine.
Choose the right type of investment plan.
Nowadays banks and financial institutions are offering a wide range of investment plans to suit your needs and make sure the bank or firm you decide upon is a reputed and internationally standard.