Want to get into investing but not sure where to start? There are plenty of different investment opportunities from assets like gold to business shares, however when it comes to easing your way in you should probably start with one of these five investments.
Savings accounts should always be your first point of call if you’re hoping to grow your money. There’s pretty much no risk involved meaning that you’re certain to make a return – the only downside is that it’s a slow return. Rather than opting for your average bank savings account, you could try company trusts or government bonds. These often have a much higher interest rate, meaning you’ll make back your money faster.
Peer-to-peer lending is one of the newest forms of investment and involves lending other people money over the internet. These people then pay back the loans you’ve given them over time along with interest, allowing you to make a tidy profit. By going through an official lending site you can guarantee a level of security that you’ll get your money back. You get to choose how much you’re willing to lend and who you’re willing to lend to based on their cause. All in all, it’s one of the most straightforward and secure ways to invest.
Forex trading involves investing in foreign currency. Because currency rates are constantly changing, it’s possible to make money by buying a currency as its rising in value and then selling it for a profit. There are forex brokers online that can advise you on the best currencies to buy. It’s more stable and predictable than investing in cryptocurrencies like bitcoin and you can pretty much invest as little as you want.
Mutual funds allow you to put money into a pot with lots of other investors. An investment broker is in charge of this pot and decides the best places to invest this money, which could be stock and shares or assets. In essence, you’re basically handing your money over to a professional to invest but by chipping in with lots of investors, you can gain access to much bigger and better investment opportunities.
Property requires having a lot of money to begin with and there are a lot of risks, but it’s an investment that many people can understand and get their teeth into without too much research. Renting and flipping are the two main ways to make money out of property. In both cases, it’s possible to hire professionals to help take the load off – property letting agents can handle processes such as screening tenants and following up late payments whilst contractors can help to make improvements and improve a property’s value if you’re planning on flipping. That said, some people may be willing to take on these jobs themselves.