If you’re a frequent reader here, you probably already know a thing or two about saving money. But have you ever considered investing your money? While your local banks may offer a number of different savings accounts, interest rates are minimal and your money has to stay in these accounts for long periods of time before gaining any traction.
Fortunately, the internet is home to many short-term investment opportunities that offer competitive rates and flexible payment options. We won’t get into too much detail; instead, this post will mainly contain simple and effective online options that everyone can put their money into.
Know Where You’re Putting Your Money
If you’re new to the concept of investing your money online, it’ll pay off to do some research and get a bit of know-how on what you’re doing. The internet is home to a plethora of resources where you can learn about investing, especially through online services.
One of our favorite is InvestinGoal.com. InvestinGoal is home to a number of guides and reviews on the best forex brokers. Their eToro review, for example, explains pretty much everything you need to know about the broker, including how legitimate the service is, how to use it, and how copy and social trading work. It’s an invaluable resource for anyone looking to get into currency trading investments online.
Now that you’ve done your research, let’s take a look at some of your best options starting off.
Investing in real estate is costly and can be risky. Fundrise allows you to put your money into the property market with less capital and potentially less risk. Your money is invested in property developments. When the projects are completed or bought, you make money.
Fundrise is perfect for people who don’t know how to create a valuable investing strategy. They will identify, acquire and improve real estate for you to ensure you’re getting the best results possible. They have three different investment plans to choose from to ensure they’re meeting a range of people’s requirements. They even have a Starter Portfolio if you want to test out their platform without committing to anything. If you discover it’s not for you when on this plan, you’ll get your money back if it’s within 90 days.
Lending Club offers users the ability to invest their money in Notes, which are fractions of a loan amount being given to a borrower. When the loan is paid, you get your cut. The benefit here is that interest rates are very high and that in the event that a loan isn’t paid, your money is protected by Lending Club.
Returns vary depending on your chosen developments, but expect interest rates of around 10 percent. A minimum of $500 makes Fundrise fairly accessible and uses modern technology to automatically select the most suitable developments for you to invest in.
All you have to do to get started with Lending Club is open up an account (you can select a regular investment account or a retirement account) and then pick your strategy. You can either opt to purchase notes manually or automate your investments based on a pre-selected strategy. Then, all that’s left to do is find your account with as little as $1000 and they’ll deposit your earnings right back into that same account.
Lending Club’s investors receive a monthly cash flow that ranges from 2-5%.
For comparison purposes, I just had to include one of the best
Users are free to choose from over 4500 stocks and 1600 exchange-traded funds – more than any other brokerage
They have individual, joint, retirement and trust accounts depending on your needs. Their technology is extremely secure, showcased by the fact that they are a member of SIPC. They also offer two-factor authentication and military-grade encryption to prevent hackers.
While these investments are great ways to grow your money, be sure to remain wise about investing too much. If you have any debt, pay it off before investing any further.
You should also ensure you do plenty of research into your chosen investment method to ensure you understand it fully. When choosing a platform to work with, look into their customer reviews and ensure they’re the best provider to put your money with.