Budgeting For Beginners

You've graduated from college and are finally ready to enjoy the financial success and freedom that comes with securing your first real job. Unfortunately, while you were dreaming about weekend getaways and a luxury apartment, you didn't factor in your lower than expected wages and the monthly student loan payments. If you want to achieve your dream of wealth, or at least financial comfort, it's never too young to start investing. Here are a few of the best investments available for young adults:

Saving for Retirement?

Chances are you'd rather spend your money on a new car, clothes to impress your new boss or just about anything else your friends have. The last thing on your mind is probably saving for retirement, but if you want to actually stop working at some point during your golden years, it's best to start putting money aside now.

A Roth IRA (Individual Retirement Account) allows you to easily set aside money from each of your paychecks. If you're still not convinced and aren't willing to part with your money in-the-now to secure your distant future, here are a few of the benefits of starting an IRA:

• I Need My Money Earlier – According to U.S. News and World Report, if you suffer an unexpected expense later in life, such as your future child's college costs or medical bills, it might be possible to withdraw money from your account without any penalties. This allows you to enjoy this safe investment without being penalized for accessing your money.

• Enjoy Your Tax-Free Income – Once you retire, you can have access to your retirement fund without having to worry about the burden of taxes.

• Are You Planning to Have Kids? – Finally, if kids are in the plan, securing a Roth IRA allows your heirs access to your money without having to worry about the IRS breathing down their necks.

Consider Real Estate

Whether you're already married, or that is the last thing on your mind, you might be considering purchasing a home. Buying a house can be a great investment, but it can also be a colossal mistake.

When it comes to purchasing a home to live in and as an investment, it's vital to ask yourself a few questions first:

• Am I Sticking Around? – According to CNN Money, it's not a good idea to purchase a home, as an investment or simply a place to keep your stuff, if you're not planning to stay there for at least five to seven years. It will take at least this long to recoup the costs of your initial investment. If there's a chance you could relocate or your financial situation isn't stable, renting is the better option.

• What's the Market Like? – The real estate market is in a constant state of change, and if it's a "buyer's market," investing in real estate is a wise option. However, if home values are plummeting and every on-air pundit is telling you to stay away, it's best to put off this option.

Is Gold Right for You?

Investing in gold can be another way to slowly increase your personal wealth, but you might be clueless about how this process works and if it's truly a stable option. Basically, while the economic and political world has changed dramatically over the centuries, gold has remained a constant. Gold traditionally holds its value better than paper currency, stands its ground during times of inflation and deflation and most importantly, is always in demand. As a matter of fact, the demand for gold has only increased, making it one of the safest and most profitable investments out there! If you're interested in buying gold, go to http://www.rmcoin.com.

Investing your hard earned money can be very intimidating and downright scary, so if you don't feel comfortable gambling in the stock market or not having easy access to your cash, opening a high-yield savings account is a great option. This type of savings account is probably available through your current bank and allows you to keep a more watchful eye over your money!