Saturday, June 22, 2024

3 Easy Ways To Get Started With Investing

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Anybody can get started investing even if you have never bought a stock in your life. You don’t need to be rich either. If you have even a little bit of extra money there are plenty of ways to get started to make a nice nest egg for the future.

The internet has made things even easier so you don’t even have to sit down with a broker and payloads of fees. You can even invest in using an app on your phone.

From the traditional to the cutting edge, you can easily find a way to invest that works best for you.

In this article, I will go over several ways that you can get started investing to build your wealth.

1 – Peer To Peer Lending

There are many people out there who are not able or willing to go to a bank when they need a small loan. Instead, they turn to many of the online peers to peer lending platforms.

There are many ways to go about this, but the best and most secure ones are on the blockchain. You don’t have to be an expert on cryptocurrency or even know the difference between Bitcoin and Ethereum. All you need is a credit card to buy the crypto coin and lend it to people on the platform.

Use a calculator to find the conversion of BTC to AUD, USD, GBP, or any other currency of choice.

Then on the platform, find the loan that best suits your needs. You can choose long or short term loans and even pick the recipient that you feel most comfortable with. Low-interest rates won’t give you as high a return but can give you more security that the loan will be paid back.

Just go with what you are comfortable with and you can see some nice extra money from this system.

2 – Robo-advisor

If you love the idea of having all of the work and thinking done for you then having a Robo-advisor that can handle your investments.

The way it works is that you sign up for an online investing system and make a deposit. Each site or software will have its own version of an algorithm that uses AI (Artificial Intelligence) to match you with the right investments. Then it tracks performance and makes decisions that a person would make by analyzing the data.

If you need to have some training to make sure you understand what you are getting into, the Robo-advisor can also help you there.

Because they are not a person that needs to be paid, the fees are nominal. Often under 1.0% of your account balance.

3 – Index Funds

One of the easiest ways to invest which is also one of the safest is to go for index funds. They are not the highest yield types of stocks out there but they offer stability because of it.

The value mirrors the S&P 500 for the most part so understanding the risks is easy to determine by looking at past performance.

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