You’ve finally paid off your debt and you’re ready to do something great with the extra money you have Palm Beach architects in. Did you know that a hundred dollars a month, stuffed away for a few months, is all you need to get started making serious money? It is true! It is a common misunderstanding, but a misunderstanding nonetheless, that you need tens or hundreds of thousands of dollars in order to invest. All of these can be done with a little more than $100, but often less than a thousand:
#1 Get a savings account. Putting your money into a savings account at the bank won’t turn you into a millionaire, but it also doesn’t pose any risk at all. The best purpose for a savings account is to use them as a place to accumulate a larger amount of capital for higher risk/higher reward type investments later on.
#2 Look into a lending club. There are a number of online platforms that connect people who have money with people who need it. These are peer-to-peer (P2P) lending platforms in which borrowers come to get loans, while investors, the lenders, provide the cash for those loans. In exchange, investors are rewarded handsomely for their investment. Rates of return in double digits are hardly unknown within the industry. You can invest as little as $25 in a single loan (or note as they’re known). This means that with the $1,000 minimum initial investment, you can spread your portfolio among 40 different notes.
#3 Find a real estate investment trust. Real estate is a fantastic way to turn your money into much more. Yet, the prospect of knowing which houses to buy and how to flip them is daunting. If you can’t do it right, you’re out a lot of money and your credit is shot. A real estate investment trust allows you to invest in real estate without flipping houses or becoming a landlord. The premise is simple, your money is invested in real estate developments. Whenever they make money, you make money.
#4 Hire local patio pavers in Concord, CA to lay down a new driveway. Unlike buying a car, your home appreciates in value- meaning it goes up. Any improvements on your home are a great investment because they mean your house is worth more. When the time comes to sell, you’ll get more for it. That is exactly what you want! With the help of local patio pavers in Concord, CA, it could go up even further.
Investing in yourself and your future doesn’t require thousands of extra dollars, it just takes getting started. There are many things you can do to turn a small amount of money into a large amount of money, well beyond what is on this list. Whether you choose to hire patio pavers in Concord, CA or get into a real estate investment trust, don’t miss your opportunity to grow your nest egg!