5 Important Investments to Make in an Unpredictable Market

Everyone is worried about the U.S. economy. Many houses are being foreclosed, and big businesses such as Shaper Image and CompUSA have filed for bankruptcy. With the economy in its current state, we should invest our money wisely because we cannot foresee what the future holds for all of us. I made a list of five important investments and added tips that should be considered before you indulge on your latest obsession.

5. Bed

The bed you sleep on every night is a very important and big investment. Think about it, you spend at least 1/4 of your day sleeping in your bed. Sleep gives your body a chance to recuperate itself to prepare you for tomorrow. I encourage you to splurge on a great quality bed, make sure it has a good price, great warranty, and awesome customer reviews. It is imperative to invest in a bed that will give you the best sleep experience every night so that you can make today the best experience everyday.

4. Automobile

People often make big mistakes when they purchase a car. The very first thing you should know when you sign that contract for a vehicle and drive it off the lot, your car goes down dramatically in price value. If you're lucky the resale value you could get from your car can be a 1/3 the retail price you paid depending on the condition, location, model, and year it was made. Remember that you don't need a $50,000 car to get your from point A to B and back there are alternative options. Various cars can be purchased for $25,000 or less. I recommend buying a used car, there are so many cars that are under a year old, certified with great quality, and can be as cheap as $9,000! Keep in mind how much gasoline costs each month because it can add up significantly, insurance for the car, and car maintenance costs are sky high, the pricier your car is, the more they might charge you. How many people do you know have been involved in car accidents? Dents, scratches, and cracked windows, the look and brand of your car means nothing compared to how safe your car drives and performs. Invest in a safer car because that could be the factor between life and death.

3. House

A shelter is probably one of the biggest investments everyone is going to make in their lifetime. There are so many steps that go into buying a house, but I won't get into them. Just make sure it's a house you can afford to pay monthly and that it is reasonable with the lifestyle you live, not that lifestyle you want to live. Take into account all of your expenses you currently pay monthly, add them all together, see how much you have left in your budget for a house, and then decide what type of house you can purchase. Be reasonable where you purchase your house; remember sometimes most of the cost isn't for the house itself but for the land because location can greatly affect the price tag of the house. Don't forget the time you decide to purchase a house because it can dramatically change the price you pay in the long run!

2. Money

Money is not the root of all evil, but the love of money is! Remember that money has as much value as you give it. If a penny is just as valuable as a dollar is to you then you have great insight on money because every little bit adds up. Whether you're investing your money into your portfolio like, trading, Wall Street, companies, the stock market, bonds, collectible items, or jewelry, make sure you're investing long term and not short term. The value of anything can shoot up and free-fall straight down every month. As long as you stay long term in whatever market you want to invest in, you will most likely get more out of your money. Honestly, don't spend money you don't have and save credit cards only for serious emergencies and such. Research and do your homework before you make any investment big or small, even with items like toilet paper. Figuring out how much you spend on small items will get you into the habit of reevaluating how much you spend on all the little things together and how big the chunk of change it takes out of your paycheck. It is very important for you to have emergency funds good enough to pay at least 6 months of bills and also start saving to finance your retirement! Remember Benjamin Franklin once said, "Certainty? In this world nothing is certain but death and taxes." Many things aren't certain like jobs, marriage, and even money, so make sure to be wise with your money and make wise decisions with your money.

1. Time

Where, when, and how you invest your time is so important, and in my opinion it is the most important. How much time do you spend watching TV, with your children, exercising, complaining, working, volunteering, playing video games, and surfing the web? The amount of time you spend doing something isn't nearly as important as the quality of that time you spent doing it. You can have a lot of money, a nice big house, the most expensive car, and the biggest bed in the whole world, but when your time on Earth runs out none of those things mean a thing to you anymore. Don't consume yourself in material things, store your true treasures in yourself and share them with the world. Invest quality time with those you love because memories made and lessons learned cannot be bought with all the money you'll make in your lifetime. I think one human life is worth more than all the money in the world, but money is worth the value you give it, don't sell yourself short...

What else do you think is another important investment we all make in life?