Ok so you have come in to a decent sum of money or you have saved up $10,000. You don’t know really what you want to do with it.
The great news is that now you have $10,000 and there are plenty of options open for investment.
When you understand where to invest your money you will be happy, because you will see how easy it really is. When most people think about investing, they imagine taking their cash, placing it in an account, and that money will gain interest and earn money over time.
With that type of investment I would only plan on putting my money there if I was going to leave it there for over 5 years. It is the safest option and will give you better interest over time. The thing you need to consider is being able to handle the ups and downs of the market.
Here are some great places to help you invest $10,000 online:
This is a robot advisor, which asks you to complete a questionnaire, which takes less than 5 minutes, and it works out your tolerance of risk. It gives you the option to invest in both standard accounts and retirement accounts. It’s ideal for people that want to set up an investment and forget about it.
Over recent years this has become a real favourite for lots of investors. This allows people to invest in loans that are wanted by other individuals. I love it for two main reasons:
- It is not connected to the stock market at all, giving us guys an opportunity to diversify our portfolio.
- Secondly, you are able to invest a loan for as little as $25! So if you had $10,000 you could take $2,500 of that, put it with the Lending Club and then invest in 100 various loans!
These funds are well known because they are a great way to purchase a lot of different stocks at the same time. It’s easy to set up, there’s a minimum purchase and usually this is around $3,000. I will usually purchase retirement funds with mutual funds. I see them as a long-term investment and keeping the money in there reduces my fees whilst also maximizing my potential earnings.
Exchange Traded Funds are becoming very popular indeed with investors. I like them because they have super low fees and they are traded on the stock market, exactly the same as you trade stocks and shares.
Have you ever invested money? Even if you have made profit or lost funds, I would love to hear all about your experiences and any tips you think would be good to share. If you are currently saving up money or looking to invest – how much are you looking to invest, where and what platforms have you been looking at? All you have to do is put your thoughts down below this article.