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Investing is something that has undergone a serious change over the last couple of decades. Once upon a time, it was something that belonged exclusively in the realm of the obscenely rich and powerful who were able to throw around millions on the stock markets. These days that couldn’t be further from the case. Thanks to things like the internet and mobile apps, investing has now fallen very firmly into the hands of everyday people. So if you’ve always dreamed of making money through trading and investing then now is the perfect moment for you. But that doesn’t mean you don’t still need to be careful. Making the wrong choices in terms of your investments, especially when you’re first starting out can be seriously dangerous and put you in a pretty precarious financial position. So, to help you avoid that fate, here are a few of the best first investments that you can make, even if you have little to no knowledge or experience.
There are few investments quite as reliable as property. It’s the kind of investing that just about anyone can do, as long as they have the right combination of capital and commitment. It’s the ideal investment for those looking to supplement their current income without having to go through a total career change, but it also allows you to the opportunity to grow your investments into something more full time. There is also a huge amount of variation in terms of the kinds of properties that you can invest in. So whether you’re looking for some private residential tenants or you’re more interested in a NNN property, there’s an option out there to suit your needs.
This option is great because there’s a pretty decent chance that your employer actually offers it. With target date retirement funds, you don’t have to adjust or rebalance your investments as you age. The fund is split between multiple different stocks and mutual funds, allowing you to diversify easily from a single fund. The allocation between stocks and bonds is simply adjusted as you get closer and closer to retirement. The cost of this kind of investment can often vary pretty significantly, but it is one of the best ways for many people to start investing for the first time.
One of the biggest things that have revolutionized modern investment is the advent of smartphone trading apps like Acorns. Acorns works from an ingeniously simple concept. It connects to your credit/debit cards, rounds up regular purchases and then invests the difference into a diverse portfolio of funds for you. This is a fantastic option for those who are unsure of exactly how to get started in the world of stock market investments, especially those without huge amounts of capital to throw around. It is also a good idea to invest frequently because the monthly free that Acorns charges can start to eat into your account balance if you leave a single lump sum in there for a long period of time.