3 Viable Small Investment Opportunities to Consider
The average 20-year-old American has about $10,700 invested. In comparison, the average 60-year-old has about $210,000 invested. If your savings aren’t measuring up, then it’s time to start growing your wealth.
The easiest way to do that is to invest. You could dedicate your spare change from purchases, or perhaps you have a side gig that you invest the proceeds from.
Whatever you decide, these small investment opportunities will help you grow your pennies into dollars and your dollars into hundreds, and so on.
1. Work Retirement Plan
One of the best investment opportunities for young adults is to take advantage of their employer’s retirement plan offerings. This is one of the easiest ways to begin investing because the money automatically gets taken out of your paycheck, so you’ll never even see the money.
Many employers will match your contribution, which is like free money. This additional money is in addition to your regular pay. You also don’t have to pay taxes on it.
Once you sign up for the program, you can choose how must risk you’re willing to take on. Then the investing details will get taken care of for you.
2. Cookie Jar Savings
The old-school method of this investment opportunity is to use jars or envelopes that are each labeled with a specific goal. The modern version of this is an app.
This is one of the most popular investing tips for beginners because it simplifies the investment process. Many apps will automatically round up each of your charges and then invest that extra change. The money will get automatically transferred from your checking account and put into a high-yield savings account.
A simple approach is to have a single savings account. However, if you have specific goals, then consider creating multiple accounts for each of your goals. Perhaps you have one for a new car, dream vacation, or emergency fund.
3. Real Estate
You don’t have to jump into the local real estate market to start investing in real estate. One of the most popular real estate investing tips for beginners is to look for a REIT. Companies like Shepherds Finance let you invest as little or as much as you have available.
The REIT will combine your financial investment with others who are looking to invest. The entire sum of money will then get used for investment in a real estate portfolio.
Look for an investment service that allows contributions that match how much you have available to invest. Then consider the type of real estate the REIT invests in. This could be residential, retail, commercial, office, or industrial.
Consider These Small Investment Opportunities
You don’t have to have a ton of money to start investing. In fact, investing spare change and a small amount now is how you grow your wealth to be worth a lot more. These small investment opportunities will help you get started with investing.
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