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How to Make Your Money Work Harder

If you have spare cash that you want to invest or have inherited a large sum of money, you may be wondering what to do next. Deciding on the best place to keep your money can be a tricky decision to make. Not doing anything with the money and letting it remain where it is can be tempting, but you may decide that you want to make the money work hard and try to maximize it. Investing money is something that requires careful consideration, so you must explore your options before coming to a final decision. 

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There are many different ways to invest, but finding the right one for you requires some thought. You will need to think about how risk-averse you are, as well as considering whether you want to be able to access the money if you suddenly need it. Riskier investments typically have the potential to bring bigger returns, but the chance of losing your money is also higher. Low-risk investments will offer smaller returns, but mean you are less likely to lose your money. Here are some of the options to consider when deciding where to invest:

Savings

Putting your money into savings is the least risky option, but also potentially brings the lowest rewards. If you prefer to know that your money is safe, and are happy to forgo significant returns in favor of security, moving your money into a savings account could be the right option for you. It is crucial to note that not all savings accounts are the same, there are many available all offering different interest rates, so make sure that you shop around to find the best one for your needs with the highest levels of interest.

Property 

Property has always been seen as a solid investment, but it does bring its risks. In uncertain economic times, property values can fluctuate wildly, and you may have to keep hold of your investment for a long time before you can reap the rewards. Keeping the property as a longterm investment is fine if you plan to rent it out. However, you may decide to renovate and then flip a property to realize a profit, but this does require careful monitoring of the local property market, to ensure that you don’t make a loss. 

Cryptocurrency

Cryptocurrency may have been around since 2009, but it is still a relatively new kid on the block. Many people believe that crypto is the currency of the future, but it is vital to do your research before investing. 

If you plan to start investing in blockchain, you may find it easier to use a buying and selling platform that specializes in cryptocurrency, such as https://bitit.io/buy/ripple-xrp

Stocks

Stocks are a common form of investment and involve purchasing shares in a publicly-traded company. Investing in stocks means that you can make money if you sell your shares at a higher price than you paid for them, or lose money if the stock price falls.

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How An Investor Could Get Through Corona Virus Markets

Ok, so Corona virus has hit us hard in so many places, and it has certainly made the investment market very wobbly. If you’re someone who has investments in the markets and are being affected by what is going on at the moment it can seem like a bleak, uncertain and unnerving time. But, what exactly are you supposed to do to get through this difficult time?

How An Investor Could Get Through Corona-Virus Markets - computer screen stock market image
Photo by Lorenzo from Pexels

Let’s have a look at some of the thing you can do during this uncertain time: 

Don’t Do Anything

So, the value of your current portfolio has already declined. One option you have is to do nothing, if you sell now you are converting your paper losses into real ones. 

Stop Constantly Checking 

We all know that times are bad for investors at the moment, and constantly checking the value of your portfolio isn’t going to change that. Turn off your notifications, it’s probably already too late for you to change anything now. You might make a bad situation even worst if you keep looking, you might feel forced to sell when you shouldn’t from nerves and anxiety. 

Stick With Your Plan 

If you already have an investment plan in place where you use tools like MetaTtrader 4 for mac, stick with it. Try to keep investing as you normally would. For example if you have money that goes into your retirement plan every month or two weeks continue to do that. 

Remember To Stay Calm

You need to remind yourself to think like an investor, just because time are uncertain at the moment doesn’t mean you should jump if the market jumps or falls dramatically. Especially if it’s happening over a day or the course of a week. You need to think rationally and leave your emotions behind. It’s much better for you to sit back and ride the storm, wait until everything calms down before you make any significant decisions. Remember you can never pick the market bottom or turnaround and just jump in. You need to fight the impulse of thinking this is good. 

If You Feel Like You Have To Do Something 

If you get the feeling you really, really need to do something, try to use this as a learning moment. If you keep hold of individual stocks, you can take the opportunity to review those holdings and review what could have happened with them. 

This may all fall on deaf ears, especially for those who want to use this crash as an opportunity to buy low and sell high. Using this time as the buy-low opportunity. If you absolutely have to buy in the current market make sure it is in a rational and disciplined manner, think about how much you can risk losing as this is only the beginning and things could get worst before they get better

Do you have any other tips that you could share in the comments below?

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Interested in Investing? These Are Smart Places To Put Your Money

Looking to turn a little money into a lot? If you’re in the fortunate position where you have money sat in the bank each month, why not make this work a little harder? Instead of accruing a measly amount of interest each year you could gain far more and maybe even turn it into a full time career. Here are a few smart places to invest if you want to grow your money.

Precious Metals

Investments into precious metals such as gold and silver are smart choice because prices increase over time. They’re not the best investment idea for people who want to make a profit fast, but those who are in it for the long haul will see a healthy return. In just the last ten years, the price of gold has almost doubled, which goes to show how much opportunity there is in this market. Only purchase from a reputable seller, there are plenty of companies out there which facilitate the buying and selling of precious metals. Do your research and work with one that suits you.

Interested in Investing? These Are Smart Places To Put Your Money - gold ingot image

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The Stock Market

Investing in the stock market isn’t usually recommended for newbies. However, if you do want to give it a go there’s help available out there to allow you to familiarise yourself. For example, there are lots of professional brokers who are able to assist you, as well as simulation computer programs. These work by replicating the market that you can practice on first without actually spending money. You should never spend more than you can afford to lose, which is why this should be done with extra money not what you need to pay your rent and bills. If you’re fortunate you could do well here, lots of entrepreneurs make a killing from the stock markets and is something you could look into if it’s of interest. Some of the he best areas to invest in are commodities such as oil and gas companies and armed forces businesses such as weapons manufacturers.

Bitcoin

Bitcoin is a digital software-based currency, created to provide both a simple and convenient way to transfer funds to a seller when buying online. It’s still relatively new (it has only been in the public’s interest since 2013), but according to experts and investors, it’s something that’s likely to continue increasing in popularity. You can purchase this currency from a bitcoin exchange or online broker, or even directly from another individual. ATM machines often give the option to buy them too. As with any investment, there is some gamble involved especially with it being a brand new system. However, venture capital firms have bet that it’s something that’s likely to stick around.

Property

There’s a lot more that goes into buying and selling houses than simply buying cheap, renovating and selling for a profit. You may have played the board game Monopoly as a child but in reality property can be unpredictable as the market has peaks and troughs, plus you never know exactly what you will uncover when you start ripping out walls and floors of properties to renovate. Make sure you have enough background knowledge to be able to make the best decisions and boost your profits and avoid the common mistakes newbie property investors tend to make. There are a few ways you can make money with property, but an obvious one is to buy cheaply, do it up and sell for a profit. While it sounds simple enough, there is risk involved with flipping houses so you do need to do your research or speak to a professional who is knowledgeable about the property market. Many inexperienced property investors can concentrate too much on what they would want in a home themselves instead of what people who would be likely to buy would want. You also need to be aware of things like ‘ceiling price’ in different areas, because due to this, no matter how luxuriously you finish the property it will only ever sell for a limited price. The last thing you want is to end up in a situation where you’re stuck with a property and unable to sell it on for a while, or even where you lose money. Another option would be to rent out properties and get an income each month from tenants. You could do this in the country where you live or abroad. Sites like http://rumahdijual.com/bandung/ help you to easily find property, and if you get something that appeals to tourists you’re laughing all the way to the bank. As a bonus you could use it as a holiday home yourself whenever you wanted. http://credit-n.ru/offers-zaim/turbozaim-zaimy-online-bez-otkazov.html

Teaching Teens About Investment: The Basics

As a parent with teenagers, you are likely to be worried about their financial futures. If economists are to be believed, millennials could be about to become the first ever generation to be less well off than their parents – so there is obvious cause for concern.

It has never been more important, then, to teach your young adult children the vital importance of saving – and investing in their future. I’ve put together a few ideas which should help you explain – and demonstrate – some of the concepts of investment to your teens.

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Develop their interest in world affairs

Knowledge of global events and their impact on the markets is critical for investors, so encourage your teen to keep in touch with the news. OK, so if you are anything like the average family, your teens are likely to turn off when the news comes on. But, you mustn’t mistake this for disinterest in current and world affairs. There is a good chance that your teens have a keen interest in what’s going on in the world they just choose not to listen to a mainstream voice. Encourage it, of course, but start telling them the benefits of fact-checking and investigating sources. It will prove to be hugely beneficial when it comes to the day they start making investments.

Offer them allowance deals

If you are still giving your teen a weekly allowance, see if you can show them the benefits of putting money way and saving it. For example, let’s say you give them $10 each week. You could suggest that if they gave you back half and save it for 6 months, you would match what they have kept back, doubling their money. Not only will it show them the value of putting money away, but it will also teach them a little about interest and making their money work harder.

Get started on real estate

Buying and selling homes isn’t something your kids will be doing for a while yet. But that doesn’t mean it isn’t a subject you should be discussing. Educational games can help the younger ones, and Monopoly is always a great way to introduce the concept of investing money in property to get more back. If you have the money, you could, potentially, look around for cheap homes for sale, buy one, and let them run it as a business – assuming they are old enough, of course. There’s nothing to stop you from investing in property as a family business, either. You could, perhaps, give everyone tasks they are responsible for and pay them out of any profits earned. Finally, ask their advice. Too many households shield finances from their kids, but being open and honest will help them learn and, most importantly, ask questions.

Talk about the stock markets

Teens love modern technology and big brands – and there is a perfect chance there for you to take their interest further. You could even set them up with a little stock to play with, and see how the markets fluctuate for themselves. As long as your teens have a grasp of money and are interested in the subject matter, it should be easy enough to peak their interest in the relevant markets.

Do you have any suggestions on how to teach teens about investment? Let me know your thoughts in the comments!