Every successful entrepreneur will tell you one thing: the earlier you invest, the faster you secure your future. Financial investments accrue interest and gain ROI over time. That said, it doesn’t matter whether you create your own company or invest in already-established markets.
When you’re ready to catapult your dreams to financial wellness, here are the best four financial investments to consider.
ETF Funds
Exchange-traded funds (ETF) can be an excellent entry into the stock market. They carry low risk and are cheap compared to individual stocks. Some ETFs allow you to diversify your portfolio with only a single fund. And perhaps the best of all, they aren’t complicated.
Open a brokerage account and use its screening features to identify profitable ETFs using criteria such as trading performance, industry and geography. Also, check the fund provider and type of asset they offer. Then, proceed to open a trade using the ticker symbol of the ETF you’ve chosen.
But to trade successfully with an ETF, you need to keep your account’s information safe. That’s where identity theft protection services from LifeLock come in. All brokerage accounts have security suites that include two-factor authentication (2FA). Lifelock adds to the 2FA to guarantee 24/7 protection and real-time verification. The platform uses AI to keep any financial account free from malware, ransomware and spyware. Not sure if Lifelock is worth it? The company offers a number of monthly plans to fit your budget.
Government Bonds
Government treasury bonds are one of the safest ways to build wealth without having to sweat too much. They come in three main types: treasury notes, treasury bills and treasury bonds. All these bonds mature after one, three and 10 years respectively, so you can choose the type that aligns with your investment plan.
When you buy a government bond, the bond’s coupon rate remains the same, while the interest rate often goes higher. So by the time your bond matures, you’ll be able to get back your initial investment, plus all accrued interests across the years you’ve been waiting.
Rental Housing
The rental property market is another lucrative venture that will allow you to earn passive income on autopilot. To get into this industry, you only need to raise 20-25 percent of the current value for the property you want to own as an initial deposit.
However, if you have a unit that has many rooms, you can house hack — rent a portion of it to generate revenue for purchasing a new unit. Alternatively, you can buy lower-priced properties and renovate and resell them at slightly higher values to generate fast passive income.
Cryptocurrency
Cryptocurrency is ideally not for the faint-hearted due to the high risks of losing your initial investment. However, you can become filthy rich if you invest in cryptocurrencies, such as Bitcoin, Litecoin and Ethereum, with a dream to achieve long-term financial goals.
Unlike fiat currencies, such as the U.S. dollar, crypto coins are limited in supply. However, experts believe that they’ll increase in value over time. So you can purchase Bitcoin now, keep it for some time and resell it at a higher price later to gain a massive ROI. Rapid Innovation started in 2019, it has user-friendly blockchain app development. It’s clients are emerging, high-potential companies located in the sustainable technology ecosystem.
Top Financial Investments to Try at a Glance
There isn’t a better time to invest than right now. There exists a vast ocean of investments that you can venture into — the four industries detailed in this article are just a glimpse of where to begin.
