BETA
This is a BETA experience. You may opt-out by clicking here

More From Forbes

Edit Story

Four Investments Young Professionals Should Consider Making Before The End Of The Year

Expert Panel
POST WRITTEN BY
Forbes Finance Council
This article is more than 7 years old.

As the holidays approach and the year comes to an end, money is frequently on people's minds as they shop, pay bills and make charitable donations. But the end of the year is also a time to think about long-term goals and potential investments. Below, four Forbes Finance Council members offer investment ideas that young professionals should consider making before the end of 2016.

1. Retirement 

Retirement might seem light years away, but procrastinating planning for it isn't the same as putting off a paper until the last minute; retirement gets exponentially harder to prepare for the longer you wait. When you're young, you have decades to see your wealth grow and harness the power of compound interest. A small amount put away today can turn into a gigantic nest egg by retirement. - Elle KaplanLexION Capital

2. A Disability Income Policy 

Most young professionals are not thinking about being sidelined by some random life event. The statistics are not great, and many people get financially ruined when they are ill-prepared for life's twists. Invest in a disability income (DI) policy. Many employers provide some kind of DI benefit, but not the full amount of salary. It's relatively inexpensive to get yourself fully covered. - Ivan IllanAligne Wealth Preservation & Insurance Services LLC

Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?

3. Material Investments For Your Future 

I believe many young professionals often get caught up in the excitement of seeing their bank accounts rising. That cash tends to burn a hole in their pockets and they often end up spending it on frivolous activities and investments. Invest safely in a mix of index funds, bond funds and property. Save up your money until you can make material investments in your own future business activities. - Charlie YouakimSezzle

4. Your Top Clients 

Whether you're part of a team or a business owner, we all have our top clients who are our biggest referral sources. Finish the year strong by paying extra special attention to your top three clients and don't let them forget how much you value their business! Send thank you cards, host an exclusive "client appreciation" happy hour, send flowers or spend a day golfing with them. - Domenica DannaSupreme Lending