We all love the idea of making money. However, we often don’t recognize some of the best and effective ways to do just that such as saving and more importantly, investing. Some of the highest income earners in the world invest a huge portion of their money. However, if you are going to invest your money you have to do it wisely.
You can’t just throw money at any opportunity and hope for results. You have to look for good ROI’s, which is Return on Investments. There’s a ton of ways to save and there’s also a ton of ways to invest. Additionally, there’s a plethora of ways to do both! In this article, I will be covering some of the simplest and effective ways to invest your money like a pro!
1. Bank Accounts – This has to be the easiest way to invest and save your money! It’s not the most effective, so don’t expect to invest $50 and achieve a return of $1,000 in the next coming months. However, it’s all a gradual numbers game! If you don’t play, you don’t win. If you don’t already have a bank account, get one! However, make sure this bank account comes with a Savings Interest Account. That will allow you to build interest over time from the money you put in.
You can take this money out at anytime for emergencies so it’s not like you’re losing your money at any time. You’re just storing your money, if you will. Most interest accounts provide interest of 0.01%. Don’t lose hope! If you have $100 in this account, which means (for most accounts) you will build $1 per month. Read that a second time if you have to. You will be profiting $1 each month for doing absolutely nothing! If that’s not easy, basic and smart investing, I don’t know what is. Before we move on, imagine a millionaire with a couple thousand sitting in their interest account. There’s a reason individuals use this funnel of investing.
2. Pay Off Debt – I hope by now you have read several other articles, maybe even have watched a few videos over the topic of proper investing. If you have, I’m almost positive this tip has come up multiple times. Why? Because it works! Let’s use logic for a moment if we can. Let’s say you make $5,000 a month but you have credit card bills, medical bills, layaway bills and many others. These “bills” can be paid off and never to be seen or spoke of again. Let’s pretend that all of these bills take out a whopping $1,000 each month out of your income. Now, you only make $4,000 a month.
I understand that times are tough for many and easy for few. However, if you were to be able to start chipping away at all that debt and get yourself 100% debt free, you will have that extra $1,000 again to invest with such as putting it in your interest savings account. It may sound silly at first, but examine and research at some point the actions of increasingly rich individuals. The first thing they did when they began to achieve financial success was paid off all their debt. Financially successful people don’t have time to pay off unneeded debt. If this article appears silly, do this tip for just one of your debts and see the results.
3. Dividend Stocks – Stocks are always fun to tinker with. Some are a waste of your money and time but others are a fantastic way to invest! It’s all about making wise decisions. Don’t just throw your money into any stock! Do some research and look at the analysis of every stock you come across. As a hint, most “penny stocks” are a joke! Look for a stock that projects massive growth as well as offers dividends!
Also, feel free to get in touch with a stock broker but remember they are certainly not required. If you don’t mind investing a little time as well, you will be able to find a great stock that pays dividends and projects massive growth. For example, I have quite a few stocks in the marijuana industry (to make it simple). Why? Well, although I do not use any drugs at all, it is very clear that the USA is going in the legalization direction. This means, growth in terms of stocks in this industry is certain! It’s also important to decide the best way to use these dividends and to remember that they are generally quarterly and won’t be a huge whopping amount of money. I personally, take my dividends and slam them right back into the same stock! It’s a slow process, a very slow process! However, after 40 years I will be in very good shape.
4. Invest In Yourself!! – Consider this a bonus tip. I cannot express this enough. If you desire a vast amount of income and/or time to vacation or spend with family then begin investing in yourself and your future immediately. By immediately, I mean right now! Today! You could start your own business which could quickly or slowly lead to establishing a huge amount of steady income. You could invest in your own education by going back to school or taking some side courses. You could do many things! The point is, to invest in yourself and your future and I promise you will see dramatic, positive, and effective results provided you do it wisely!
Hopefully you enjoyed my 3 tips on how to invest like a pro as well as my 4th bonus tip! Keep in mind, what has been explained is only the tip of the iceberg when it comes to saving and investing like a pro! I recommend you to look around for more tips and go through more of my articles for I discuss this subject on a regular basis. Investing and saving is a process, it’s certainly not a get rich quick scheme. However, once you have mastered the process you will find that becoming and remaining financially stable is much easier!