When it comes to investing, many people believe it requires millions of dollars, but that simply isn’t true. Every investment has to start somewhere, even if it’s as little as $100 a month. The key to building a successful investment portfolio is good spending habits, diligence, and plenty of careful planning.
Different Ways to Invest and Earn Money
Investing in Foreign Currency
You could also diversify your assets by investing in foreign currency, which is one of the safest, most secure investments you can make. The Iraqi Dinar has been proven to be a solid investment. Investors have seen its value rise substantially in recent years, which is similar to the German Deutsche or the Kuwaiti dinar, which both greatly increased following wartime. For the past decade, Iraq has experienced substantial changes and growth which is continually improving. Most investors understand their economic potential. If you invest correctly, you can make over 1000% on your initial investment in a matter of years.
Investing in real estate can, at times, seem a bit risky, but the pros definitely outweigh the cons. It’s a great way to build your wealth and expand your portfolio; it also has amazing tax advantages. Many people will argue that investing in real estate has a greater return than the stock market. It has much less volatility and a minimized risk. As the stock market tends to improve, so will the value of your property. As a result, you build equity. Investing in real estate is something tangible; unlike stocks, which can come with unpredictable risks and dip to zero overnight. The real estate market always ends up recovering and its values will usually increase over time.
Invest in Metals
You could invest money in precious metals with companies like Lear Capital. Most people don’t need to be told that gold and silver are a great investment, but there are also a variety of other metals that are just as valuable. Silver and gold remain an extremely stable investment which is why Dow Jones Industrial skyrocketed in 2018, surging 23,000 points. These precious metals are continuously in high demand. They are used in a variety of products, including batteries, solar panels, medical applications, and many electronics. Many people do not realize how often silver is actually used; an average Smartphone uses slightly less than half a gram of silver. There are an estimated 1 billion Smartphones manufactured annually, which will require more than 30 million ounces of silver. Silver is also used to build photovoltaic cells that are used in solar panels. Copper is a metal that is often overlooked but is continually in high demand. Copper has been used for thousands of years. Its demand isn’t going to lighten up any time soon. Investing in copper is a great way to diversify your portfolio. Copper prices tend to differ from other precious metals which is why many investors find it so appealing. China and Russia use more than 1 billion tons of copper annually which is a material the automotive manufacturers depend on.
If you’re not the most skilled investor, you might want to consider using a Robo-advisor. Robo-advisors are automated software designed to manage your portfolio based on your criteria. The investment company will usually have you take a questionnaire to determine your risk tolerance level and figure out which investment goals will work best for you. The sophisticated software uses a user-friendly interface, which will keep you up to date on the performance and holdings of your investments. Robo-advisors are designed to save you money and provide a convenient way for the investor to track their investments. Here are the top 3 Robo-advisors:
- M1 Finance: This is one of the top Robo-advisors out there. You do not need thousands of dollars in order to start investing, and the company also doesn’t charge management or commission fees. You have the ability to customize your own portfolio or choose from a pre-made diversified portfolio that has an easy-to-navigate user interface.
- Wealthfront: This is a great Robo-advisor which I highly recommend for first-time investors. The company will manage your first $5,000 for free, after that they’ll charge a reasonable 0.25%. but the company does require a minimum of $500 in order to invest.
- Betterment: This company will help simplify the investment process and has an extremely low minimum starting balance of only $50.