Whether you have a little money saved or a lot, investing it in a smart way could mean you multiply your cash without too much hard work involved. Even high-interest bank accounts don’t pay that much back, so if you’re looking for a way to grow your money then this is a good way to go about it.
Be aware though, with any type of investment, there’s always some risk involved and so you should only use money that’s not already accounted for. You don’t want to lose your home or not be able to pay your mortgage or bills if things don’t go your way. Here are some ideas.
Bitcoin
Bitcoin is a hot topic at the moment, you can’t read a guide to investing without it coming up! But that’s because it’s so exciting, while it’s very volatile and could quite easily collapse there’s also the chance that you could make a lot of cash with it too.
Cryptocurrencies, in general, are becoming some of the most eagerly invested in commodities, and we’re on the brink of changing times. Some people have poured their life savings into this digital currency, others who got in there early have already become millionaires. It could go either way with this one so invest at your own risk, but there is definitely a chance to do very well with it.
The Stock Market
It is possible to make your fortune in the stock market, and over the years many have done so. With commodities such as oil and gas and precious metals amongst others all doing well, it’s a chance to get involved and make yourself some money. The only trouble is, in terms of investing the stock market is one of the riskier places to put your money.
If you’re new to the game, consider using sandbox style stock market investing software first which will allow you to get used to the way things work. Because you’re not putting any money down you don’t need to risk losing right away until you’re confident. There are lots of professional brokers out there can guide you too if this is something you’re looking to get involved in.
Property
If you want to invest but put your money somewhere a little less risky, then property is one way to go. As it appreciates in value each year and is always in high demand, there’s great earning potential whether you flip houses or rent them out.
If you take out a buy to let mortgage, your tenants essentially buy the house for you over the years by paying rent, and once it’s paid you can sell it or keep renting for a profit. Having property puts you in a great position financially and is usually always a good investment. If you want a safer bet then this is the direction to go in.
Are you planning on investing any money in 2018? Which direction are you likely to go in?
Awesome article. I definitely love buy and hold real estate! Bitcoin is an interesting topic. Bitcoin itself may not be the crypto to own, but it opened a door to a whole host of technology and coins they have a lot of potential. That’s where to keep and eye out.