In today's world you can never have enough money put away if you need it. When was the last time you really took a close look at the investments you have and what they will be able to do for you in a worst case scenario?
What type of worst case scenario? Well there are a lot of things that can happen that have you looking for a little money to help you out:
Losing a Job – What would happen if you were to lose your job? Do you need that money to be able to pay the bills and keep a roof over your head? Well consider if you lost your job what you would do to be able to continue paying those bills. While you would hope to be able to get a new job immediately, you never know if there will be something out there. In today's very high unemployment environment, it could be very hard to get a job if you need one.
Health Problems – What if you were to become ill and unable to work. While there are some programs that will help you for a little while if you are unable to work because of health problems, those are not a permanent solution. Having money put away that can bail you out would be priceless in a time like this.
What if someone in your family were to become ill and needed full time care. It is possible you could be the person who needs to give that care to them, but that will also mean you can no longer work like you used to. Therefore you need a backup money plan to be able to take care of your financial obligations while still taking care of your loved one.
Now that you understand why you need to have a source of alternate income it's time to figure out what kind to have. First and foremost many people have retirement plans, Roth IRAs and 401Ks to work with. But after you have created those accounts, you may want to do more.
You could just sock money away in a savings account, but that is not going to grow at a rate that you would like to see. Instead, why not invest?
Investing may sound risky, especially in this economy, but the key is knowing where to invest.
One market that always stays stable is the real estate market. While it did see a bit of a dip during this last year's down economy, it did not take as massive of a hit as other sock market offerings. And at the end of the day, real estate always has value, while other stocks, bonds and Wall Street offerings could well lose all their value and disappear.
This is why many people choose real estate investment trusts (REITs) and real estate mutual funds to put their money into. These are investment portfolios that are more stable than other investments, yet have a good chance for much better returns than a bank account.
When you are ready to look into this investing, make sure to go with a brokerage that knows what they are doing. REITBuyer.com is such a company. Not only are they the first and only online brokerage firm that specializes in real estate investment trusts and real estate mutual funds, but they also offer you a world of resources that are geared specifically to your investment interest.
This article was written by Earl E. Bird, III, spokes person for the REITbuyer.com, a website designed to educate investors on REIT buying and investing in Real Estate Mutual Funds. Whether you are a savvy investment guru or a new investor looking for guidance, Reitbuyer.com has everything you need to be successful. Learn more about investing in Real Estate Stocks at http://realestateindustrial.blogspot.com