There’s no shortage of good reasons to invest your money, and most of these revolve around the simple idea that it lets you earn even more. That could be through immediate returns or long-term benefits like retirement plans. While most people know they should invest some money, deciding how to go about it can be overwhelming, especially for the inexperienced.
Options range from 401k plans to the stock market and plenty more, and it’s no surprise that would-be investors are nervous about making mistakes. That fear of starting is often the biggest hurdle you’ll need to overcome, however. Here are some good investment ideas to get started with. Once that initial fear is gone, you’ll be ready to move on to more and bigger investments with confidence.
The stock market is a great way for new investors to start earning capital, and you don’t need a great deal of knowledge about the market nor thousands of dollars to begin. You can start by saving small amounts of money each month (set aside a few dollars you would use on a beer or fast food meal) and putting that money towards index funds. These are professionally monitored mutual funds that pool money from investors, and they’re great options for early market exposure with relatively little risk.
Index funds are generally made up of small-cap stocks and bonds, and they’re a safer option for new investors than picking individual stocks to invest in. Index funds are easier and cheaper to manage, and they’re great for investors who want to build gains over time. Their greatest cons are the lack of flexibility and smaller gains vs. riskier investments.
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If you’ve followed cryptocurrencies like Bitcoin in the news, you may be intimidated by them. You may fear that they’re overly complex or that you need a lot of money to invest in them, but neither of these is necessarily true. It’s relatively easy to find an exchange platform online and set up a digital wallet. You’ll generally just need a valid ID and some basic personal information to get started. You can obtain cryptocurrency by buying it, earning it for services, or exchanging for it, but what if there was an easier way?
If you’re just trying to dip your toes into the world of cryptocurrency, there are some great games that can teach you the basics and let you earn spendable assets. These games allow players to earn token through playing, and as they progress, they can build more valuable crypto assets to cash out.
This may not seem like a beginner’s option, especially considering all the added responsibilities that come along with being a landlord. While this kind of investment certainly could mean buying up Ashe County Real Estate and building a business or flipping properties, it doesn’t have to be that complicated, or at least not at first.
You can start getting into real estate investments by purchasing trusts. Real estate investment trusts (REITs) are similar to mutual funds and allow you to invest in companies that own real estate without having to actually purchase land or properties yourself. Once you become more comfortable with the market, you may decide to take bigger steps such as renting out a room or even purchasing a rental property.
Once you have more knowledge and money to invest, it could be a good idea to look into a franchise opportunity. Franchise businesses have already done the work of getting started and have proven systems in place, so if you have the ability to manage an existing business, they can be an excellent investment. It tends to be easier to get financing for a franchise if you need it, and they’ll train you on how to effectively run the business. There’s no such thing as an easy business to run, but a franchise company can be an exceptional opportunity for an entrepreneur looking to branch into new areas.