Investment Ideas For Novices (like me)
Are your Side Hustles or Main Hustle starting to pay off?
Ready to start investing some of your hard-earned cash?
Then you’ll enjoy the contributed post below weighing up the pros and cons of 3 different kinds of Investment Opportunities. I gave my opinions at the end. Use them, don’t use them.
Modern Investment Ideas For Novices In 2018
Modern investments can be overwhelming. From cryptocurrency to the stock market, to developing a side hustle for yourself, it seems that there’s a lot more you have to do these days in order to earn a basic crust.
Investments are one of the best ways to earn extra money for yourself now.
It seems that we can’t get by with just our jobs. Both parents in a household are working, and the cost of living is rising, but the wage packets aren’t meeting them.
So, if you have concerns about the cost of the modern world, here are some of the most essential investments you should dip your toe into.
The stock market
It can be very complex, but it’s one of the best investments you can ever make.
While you might hear so much about people losing money on the stocks, it’s not about putting every last penny into it, a method called dollar cost averaging, where you invest small sums of money over time, can pay off. But to begin with, the best entryway is via mutual funds or EFTs.
Or if you aren’t ready to invest your own money, there are so many apps out there where you can use practice accounts, but the stock market is all about playing the long game, remember this!
Wherever you look, cryptocurrency appears to be the big thing with regards to investments. Now, this can mean that you are jumping on the bandwagon and become what is known as a “sheep investor”, but there are other methods in which to invest in cryptocurrency.
Using your IRA is one of those options, and you can look at a review of Bitcoin IRA to give you a better idea or whether it’s something worth your while. Because cryptocurrency is something everyone is talking about as a hot commodity, you might want to sit back for a while. But if you have the funds spare, getting set up is certainly a good start.
Very simply, real estate is one of those things that will never go away.
Yes, everybody has been hypnotized by the buy to let approach, and not everyone is cut out to be a landlord, but there are other ways to invest in real estate.
If you have friends who are offering an entryway to invest in their properties, this is a great way for you to earn some good money without the stress. But there are other companies that do the same thing, and allow you to invest small sums of money. But of course, with any investment like this, there is a lot of risk.
With any investment ideas you might have, you need to know exactly what you are getting into. It means, of course, undertaking the relevant research, and knowing your options 110%.
Now, the modern world is supremely unforgiving when it comes to finances.
You begin by saving up gradually, so you have enough funds behind you to invest, meaning you will make a better return. But also, you need to remember that it’s a long game you need to play. It can take a while to see any return. Which is why you need to start as soon as possible.
I agree, investing is all about weighing up risk versus reward, isn’t it?
I’ve tried the Real Estate thing and yup, I discovered I wasn’t cut out to be a landlord.
I’m not keen on investing in Bitcoin, not sure why… just don’t get a good feeling about it.
So I have relatively low-risk investments in the stock market via a really good broker. And I’m trying out a really cool app at the moment, that stashes away money every time I swipe my card into some kind of investment policy. Will blog about it when I really get a thorough understanding of it. I really am just a novice at these things.
Over to You
How about you?
Which investment ideas seem most attractive to you? Or do you already have an investment portfolio in place?