Building a sizable estate is a difficult task, and an accomplishment that you can be proud of. Unfortunately, if you have significant assets, you're also at greater risk for a lawsuit or other action that can decimate those assets. It's easy to be so focused on acquiring wealth and assets that you forget to think about strategies that you can use to protect those assets. This is especially true if you come into wealth suddenly – for example, if you inherit property or a windfall, or if your business or investments take off overnight.
When you first start working, it's often difficult to think about long-term investments, especially when you don't feel as though you earn that much money. Nonetheless, some investments are more profitable if you set them up as soon as you start work, so it's a good idea to set up long-term investments as early as you can. Find out how Roth IRAs work, and learn more about the reasons why working teens should consider this type of investment.
Whether you no longer trust the safety (or veracity) of the funds available in the U.S. stock market, or are simply looking for a way to parlay a modest initial investment into an early retirement, you may be searching alternative investments, particularly those in foreign markets. Investing on the foreign exchange market (forex) -- that is, trading one type of currency for another country's currency projected to increase in value over the short or long term horizon -- can often yield higher returns than more conservative bonds or mutual funds, although these investments also carry higher risks.
