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10 Small Investments Everyone Should Make That Are Rewarding And Fun

10 Small Investments Everyone Should Make That Are Rewarding And Fun

If you are a beginner investor, the thought of parting with your money for an investment option is rather hard; huge number of funds and investment offers can be confusing. You might be looking and searching for online lottery games to earn some extra money or might be exploiting your smartphone to look for entertaining and rewarding mobile applications. To help you out, we have selected some ideas to use as starting points that can make you money and with the help of these investment ideas, the entire process of investing will get easier for beginners.

Of course, which investment option is best for you depend on your individual situations because each of these investment ideas has its own vital principles and strategies that you must know. So, before making any investment, do your own research, choose your option carefully and hopefully you will make your own good investing luck.

1. Real Estate

If you are looking for long-term protection of your investment against the risks of high inflation in the future, then you will find better value in real estate. Even in developing nations, this is the only sector that thrives and flourishes thus making real estate an excellent investment option.

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2. Gold

Whether in the form of jewelry or in bars, gold has always been a good idea to invest. Unlike most of the other investment opportunities, we have always witnessed that gold’s value is continually on the rise as the dollar keeps depreciating in value.

3. Forex

When comes to compare best returns in forms of investment, Forex trading investment yields the best returns.  In recent years, Forex trading has emerged as one the best small investment options because of its simplicity. Even a student can start Forex trading with a small capital. You just need a sound strategy to make a handsome amount of money in Forex trading.

4. Insurance

Insurance can be used as an investment vehicle. Taking care of yourself in cases of emergency or when you grow old and retire is essential – and a wise investment.

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5. Employee Funds

Nowadays most of the organizations offer “safe harbor” or other equivalent retirement plans. In safe harbor contribution programs, the amount paid by your company is vested to you entirely; that means, even if want to resign from your job; the funds will remain in your name.

6. Treasury Bonds

Treasury Bonds are also considered as a safe small investment option, because these are issued by the government. These treasury bonds can be bought for as low as a thousand dollars each and they profit upwards of 5 percent after maturing.

7. Stock Market

As the stock market heaves to new heights, average investors who missed a lot of the stock market rise have been rushing to jump on board. If you want a bit of excitement while investing at the same time, then you should try experimenting in the stock market. Do your research on the risks involved in trading stocks so that you do not lose all your money.

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8. Mutual Funds

If you want to choose a simple and convenient way for investment, then mutual funds are the best route. Because your fund manager will manage them, you will not get worried about diversifying individual investments yourself or doing your own record keeping.  You just need to choose a specific type of fund and then direct them to your fund manager and he will do the rest.

9. Penny Stocks

If you want an investment option that can make you a lot of money in just hours, just like winning a lottery, try trading penny stocks. These are unpredictable stocks that are very cheap and they can double or triple the value within a couple of hours.

10. Bank Deposits

It’s another small investment option that guarantees you a return on what you put in your account. To get the best deal, compare term deposit rates with other banks because they can vary significantly. Most banks offer substantial returns on fixed deposits, making that a worthwhile investment.

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There are various investment options for beginners which can maximize the returns. It depends on your financial goals, fixed or regular, the investment period and your current financial situation. Keeping these things in mind, a beginner can choose the best investment option.

Featured photo credit: businessinsider.com via static4.businessinsider.com

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Tayyab Babar

Tayyab is a PR/Marketing consultant. He writes about work, productivity and tech tips at Lifehack.

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Last Updated on January 21, 2020

How to Develop a Millionaire Mindset in 6 Simple Steps

How to Develop a Millionaire Mindset in 6 Simple Steps

We all like to dream about being financially wealthy. For most people though, it remains a dream and nothing more. Why is that?

It’s because most people don’t set their mind to achieving that goal. They might not be happy in their current situation but they’re comfortable – and comfort is one of the biggest enemies of growth.

How do you go about developing that millionaire mindset? By following these simple steps:

1. Focus On What You Want – And Take It!

So many people are too timid to admit they want something and go for it. When there is something that you want to accomplish don’t think “I could never actually do that”, think “I could do that and I WILL do that”.

Millionaires play to win, not to avoid defeat.

This doesn’t mean to have to become a selfish jerk. What it means is becoming more assertive and honest with yourself. You don’t have to grab off other people. There is a big pot of unclaimed gold in the middle of the table — why shouldn’t you be the one to claim it? You deserve it!

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2. Become Goal-Orientated

It’s almost impossible to achieve anything if you don’t set firm goals. Only lottery winners become millionaires overnight. By setting yourself attainable goals, you will get there eventually. Don’t try to get rich quickly — get rich slowly.

Let’s take the idea of making your first million dollars and expand on what kind of goals you might set to get there. Let’s also say you’re starting at a break-even position – you’re making enough to get by with a few luxuries, but nothing more.

Your goal for the first year can be having $10,000 in the bank within a year. It won’t be easy but it is doable. Next, you need to figure out the steps you need to take to achieve that goal.

Always look at ways to make growth before cutbacks. With that in mind, you might want to see if you can negotiate a pay rise with your boss, or if there’s another job out there that will pay better. You might be comfortable in your old job but remember, comfort stunts growth.

You may also have other skills outside of your workplace that you can monetize to boost your bank balance. Maybe you can design websites for people, at a fee of course, or make alterations to clothes.

If this is still not enough to make the money you need to save $10,000 in a year, then it’s time to look at cutbacks. Do you have a bunch of old junk that someone else might love? Sell it! Do you really need to spend $10 on your lunch everyday when you could make your own for a fraction of the cost?

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If you are to become a millionaire, you need to start accumulating money.

Here’re some tips to help you: How to Become Goal Oriented and Achieve More in Life

3. Don’t Spend Your Money – Invest It

The reason you need to accumulate money is for step three. Millionaires tend to be frugal people, and that’s because they know the true value of money is in investing. Being your own boss goes hand-in-hand with becoming a millionaire. You’ll want to quit your regular job at some point.

Stop working for your money and make your money work for you.

Rather than buying yourself a new iPad, that $500 could be used to invest in the stock market. Find the right shares (more on that later), and that money could easily double within a year.

There’s not just the stock market — there’s also property, and your own education.

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4. Never Stop Learning

The best thing you can invest in is yourself.

Once most people leave the education system, they think their learning days are over. Well theirs might be, but yours shouldn’t be. Successful people continually learn and adapt.

Billionaire Warren Buffet estimates that he read at least 100 books on investing before he turned twenty. Most people never read another book after they’ve left school. Who would you rather be?

Learn everything you can about how economics works, how the stocks markets work, how they trend.

Learn new skills. If you have an interest in it, learn everything you can about it. You’d be surprised at how often, seemingly useless skills, can become extremely useful in the right situation.

Start developing the habit of learning continuously: How to Create a Habit of Continuous Learning for a Better You

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5. Think Big

While I advise to start off with small goals, you absolutely should have a big goal in mind. If you have a business idea, then that is your ultimate goal – to start that business and make a success of it. If you want to invest your way to millions of dollars and do little work other than research, then that is your big goal.

There is no shame in not achieving a big goal. If you run a business and aim to make $1 million profit in a year and “only” make $200,000, then you’re still significantly ahead of most people.

Aim for the stars, if you fail you’ll still be over the moon.

6. Enjoy the Attention

To be successful, you have to be willing to promote yourself and enjoy the attention to a certain extent. Now the attention doesn’t need to be on yourself, it could be on your brand, but attention definitely attracts money.

Never be embarrassed to get your name out there. That means finding a spotlight and being brave enough to step right up underneath it.

If you run a business, try contacting the local papers. You’d be surprised at how amenable they often are to running a story about you and your business, and it’s all free publicity.

Above all, remember: You control your own destiny. Push hard enough for anything and you’ll get it.

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Featured photo credit: Austin Distel via unsplash.com

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