Investing is becoming a popular way for people to either save up money for their future or make money as part of a career. When investing money, it is a gamble as markets can go up and down, so you can either make good money, not much money, or, in some instances, lose money.
It is always a good idea to evaluate affordability when investing, if you can not afford to lose then money, then it is probably best to reassess what you are doing; however, if you can afford it and want to start investing, then it can be a bit of a minefield to navigate.
There are lots of different things you can invest in to so it can be hard to know where to start; if you are struggling to think of what you want to invest into then here are three things you can look to invest in.
Cryptocurrency has become a hugely popular investment option, it is more accessible and easier to understand for a newer generation to follow. The ability to invest in crypto has now been made so much easier that anyone can invest in crypto; before, you would need to be somewhat tech-savvy to be able to invest in cryptocurrency; however, now it has been made so much more accessible due to apps and online trading platforms that make it easy to deposit and withdraw your money and crypto.
Cryptocurrency, like most investments, is a long-term investment, so don’t think you can buy into it and make instant gains like any other investment opportunity it can be a volatile market, and prices can go up and down. When investing in crypto, it is best to do your research on the crypto that you like the look of most; this makes sure you know whether what you are investing in looks to be a gainer and if it is a sensible investment.
The main popular crypto to invest in at the moment is Bitcoin, Ethereum, and Ripple; these have become the most popular since cryptocurrency came to the forefront. Bitcoin is the leader in the market, being worth the most with Ethereum coming in behind it; Ripple is a lot cheaper to invest in but could go either way in terms of growth.
Property is a great investment opportunity as it can be short and long term investment. If you are looking for a short term option, then you can buy properties and renovate them and make sure they are then worth more than purchased; you would then sell this property, also known as property flipping; the aim is to put the house for sale for more than it was purchased for and with the costs of renovation added on.
This can be a long-term investment as well, in some cases, depending on how much work needs to be done. Like most investments, there is still a risk of losing money on the property should the property market crash, or you overestimate the worth of the property.
If you want to go into the property market for a long term investment, then your best choice would be to purchase property and then rent it out with the rent you take being more than your mortgage if you have one, or more than what it would be to pay a mortgage should you not have one.
The great thing about this depending on how many properties you rent out is it is a great monthly income; the downside is if you need to put work into a house after a tenant moves out as this will incur costs and sometimes is more than the deposit they pay.
The stock market is probably the most popular investment platform that people use but would most likely be classed as the more volatile market. Investing in stocks has become a lot easier in recent years, with online investment sites seeing investment being made much easier and increasing the popularity.
Along with this, some investment sites allow you to copy other investors. You can see their profile and what percentage growth they have seen over 12 months; this is great for new investors who may just be finding their feet; it will give you an idea of what to do and what successful investors are doing. Then once you feel confident, you can look to invest yourself either on it own or alongside the copy.
If you are looking to invest for the first time and are unsure what you would like to do, then hopefully, these three options have given you a little insight so you can make that decision for your future. Remember investing is long-term and volatile, so do not invest if you can not afford it.