Lets be honest: Investing can be kind of scary.
The stock market itself is difficult to understand you earn money by spending money?
Seriously, who thinks this is a good idea?
Chris Zuppa/The Penny Hoarder.
Our team has compiled alist of creative waysyou can fatten your bank account this week.
This is a long list, so dont get overwhelmed.
Well keep it updated as offers changes or expire.
So whats the best way to get started with your own investments?
And what do you’re gonna wanna know before you take the big leap?
Is it actually possible to start an investment portfolio from a smartphone app, and should you?
Hang on tight, Penny Hoarders.
Were going to dive into all of that and more.
Getting Started: What Is Investing?
Did you know?
(Well go into more detail on mutual funds and ETFs below.)
Bonds are the most common example.
Bonds are considered safer investments than stocks, which are more vulnerable to shifts in the market.
(Psst:depreciationis the opposite, when a tangible asset loses value over time.
One of the biggest culprits?
But well also briefly cover property investments, including bitcoin.
(Yes, its still a thing and yes, we know youre curious!)
Why Should You Invest?
One thing we should make clear: Even the safest investment options do carry some risk.
Theres no such thing as a sure investment.
But he also knows its imperative for meeting many common financial goals.
Even a low-growth investment like a CD might actually net you anegativereturn, given todays rate of inflation.
And, of course, its important to remember that investing is all about playing the long game.
Yes, youll likely see some scary stock market headlines over the course of your investment career.
If you extend that timeline to 20 years, investors can increase that chance to 99%.
In other words: when it comes to investing, keep calm and carry on.
But first, you have to cough up the ante!
How Do You Get Started Investing?
So now, how do you get started on your own investments?
And what if you dont have very much money to get started with?
(The short story: youll have to wait until age 59.5, with a few circumstantial exceptions.)
Speaking of which…
2.
I mean, youve seen Wolf of Wall Street, right?
Research Your Investment Options
Having an active investment account is a good start, but its not enough.
Now its time for the real fun: actually investing your money!
Of course, as we mentioned above, investing is risky.
You dont want to just throw your money into any old set of stocks.
So what, exactly, is a mutual fund?
The specific jot down of investment account you choose will depend on how much control you want.
(Honestly, these days, you’re free to also just use Google.)
Want to put your money behind, say, medical marijuana?
Keeping tabs on legalization proceedings could work to your benefit.
Finally, dont forget the golden rule of investing: diversify, diversify, diversify!
Purchasing assets across a wide range of industries and classes can help you ride out market turbulence.
Play around with acompound interest calculatorto see how quickly that petty cash can grow.
Keep an Eye on Your Portfolios Performance But Dont Get Hasty!
The long-term, buy and hold investment strategy doesnt mean you should ignore your portfolio entirely, of course.
Sometimes, making performance-based changes can increase your returns… but again, reacting to scary headlines is short-sighted.
Of course, this investment strategy requires a lot of knowledge to pull off successfully.
it’s crucial that you be able to identify what goods or properties will increase in value over time.
not to spend it as currency, but rather in the hopes that its dollar value keeps increasing.
Finally, CDs and money market accounts are low-risk investment vehicles available through most banks and large financial firms.
They offer higher yields than the average savings account without exposing your money to the whims of the market.
Even the highest-yield CDs rarely offer more than 4% APY.
Learn more at www.jamiecattanach.com.
Contributor Michele Becker is a Boston-based writer who specializes in food, as well as Italian travel and history.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
