Unfortunately, if you leave the bulk of your money in a long-term savings account, you’re likely to make 2% interest per year on your bank balance. So if you’d like to find more lucrative ways to double your money, continue reading to discover 5 smart ways to invest your money.
5 Ways to Invest Your Money:
1. Consider purchasing shares in reputable index funds
If you’re looking to invest funds in a low to medium risk form of investment, you may be interested in purchasing shares in index funds. Index funds purchase shares from a wide variety of companies, which decreases your risk as if one or more companies experience a crash in stock price, you won’t lose all of your investment. So if you’re looking to dabble in the stock market for the first time, it’s well worth experimenting with investing in reputable index funds.
2. Consider purchasing cryptocurrency shares
In recent years countless investors have made phenomenal profits by becoming early adopters of high profile cryptocurrencies such as Ethereum and Bitcoin. If you’re not afraid of a bit of risk, you may want to consider investing a small proportion of your disposable income, into purchase cryptocurrency shares. If possible purchase your shares when the share price of your chosen cryptocurrency has taken a dip. As ideally, you’ll want to purchase your shares for a low price and sell them when they double in value.
3. Consider purchasing stocks in well known, international companies
Alternatively, you may be interested in investing your hard earned money in purchasing stocks from international companies who have performed well in the past 5 years. Examples of which include Apple stocks, Amazon stocks, and Ali Baba stocks. Before making a sizeable investment, just ensure to see how the stocks you’re interested in purchasing have performed over the past 2 years.
4. Think about investing capital in purchasing gold or silver
If you’d prefer to invest your capital into a tangible product, rather than intangible products such as virtual cryptocurrencies, which are kept in digital wallets, you may want to consider investing in gold or silver. As while gold and silver stocks occasionally take a price dip, in the long term gold and silver always increases in price as there is a limited, finite amount of gold and silver in the world. So gold and silver will become more scarce with each year that passes.
5. Consider becoming a stakeholder in a start-up business
If you have a knack for business and for calculating whether a business venture is likely to be profitable, you may want to consider becoming a stakeholder in a start-up business, which requires capital. Just be sure to choose a company whose vision you share and which boasts hard-working, innovative owners, who are determined for their business to succeed.
If you’re able to provide a business which you’re interested in becoming part of with valuable skills or advice, you may even be able to negotiate a higher percentage stake in the business, which you’re interested in!
So if you’re determined to use your savings in order to set yourself up for an early retirement, it’s well worth investing in some of the lucrative ideas listed above.