Ever since I started work at age 15 I have always hd it in mind that I should save a good percentage of my wages. I regularly saved between 25-20% of anything I earned and my savings stood me in good stead when it was time to buy my first car, first home and put some money away for my children. As a result of my savings strategy I was left with a very healthy savings account balance and I decided that after so many years of being frugal that I would make a chance with some of my money and invest it in order to grow my wealth further, or at least with that hope in mind.
There are lots of different ways in which you can invest and today I’m going to show you the top 3 ways in which I have done so.
Trading
Trading can be a complex area to get involved in and you are going to need to have done plenty of research before you get involved. There are lots of routes you can go down when you start trading, you could look at capital asset exchange and trading, stocks and shares or currency trading. Personally I started trading in oil futures, they are contacts which guarantee the price of oil upon their expiry. If the price of oil is higher than the price on your contact then you can guarantee the contract price. These contacts can be bough or sold as the price rises and falls and I have seen some healthy ROI with this strategy.
Real Estate
Real estate is a very safe and low-risk way to invest your money, you can see a steady stream of income through rental of properties and there is a potential of huge profits from appreciation and rising markets. The demand for housing almost always outweighs the supply which means that you have plenty of opportunities to sell or rent to your property. If you are new to investing then this is the right way to go and whilst ether is lots of advice out there for you which you can take, you have ultimate control over what happens with your property and what value you place upon it.
Start-Ups
This is something which I am about to start investing in, there are more businesses being created than ever before and the large majority of them rely on investors to get their projects off the ground. If you plan on investing in new businesses then aim to find a project within your field of expertise so that you can best assess what their chances are of finding success. Once you have found a start-up worth investing in you need to be shrewd with your terms and ensure that you have implemented a share buying option within the contract. Investing in a start up is no sure-fire way to see huge profits but if the business does find great success then you could be in line for quite a windfall.