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Life Tips for Personal, Financial and Business Growth

Finance

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5 Ways To Invest Your Money

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.

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5 Valuable Tips For Buying A House

If you’re interested in investing in a brand new property, continue reading to discover 5 valuable tips for buying a house.

5 Valuable Tips for Buying a House:

1. Tour as many properties as you can, in order to learn about the current state of the property market

While you may fall in love with the very first property which you come across, it’s well worth touring as many properties as you can. As the more properties you tour, the better idea you’ll get of what style of house, you can afford with your budget.

As an example, you may find that you’ll be able to make an offer on a 2 bedroom home in your ideal neighborhood or that you can purchase a larger 3-4 bedroom house in a neighborhood which is located further away from your dream area.

2. Consider bidding for a property at auction

If you’re interested in purchasing a property at a heavily discounted rate and are in no rush to purchase in a new home, you may want to consider bidding for a dream property at an auction. If you require a mortgage in order to purchase your dream home, just make sure to talk to your bank manager ahead of the first auction which you attend, in order to get

3. Ask yourself whether or not you’re comfortable purchasing a fixer upper

While many individuals are comfortable paying a premium, to move into a house which has recently been renovated and requires zero repairs, if you’re looking to purchase a house at an affordable, competitive rate, you may want to consider purchasing a fixer-upper.

While a fixer-upper may require a bit of TLC, you should expect your property’s house price to rise by a significant amount, after completing all of your repairs. As an example, if you spend $10,000 overhauling your kitchen and your bathroom, your house price may increase by $40,000. Which means that you’ll make a tidy profit if you ever choose to sell your property!

4. Consider purchasing one of the cheaper properties in a street or neighborhood

Another way that you can ensure that you purchase a home, which will increase in price over the next decade is to purchase one of the cheaper properties which may be listed for sale, in a street or neighborhood which you’re interested in relocating to.

5. Make sure to get an independent inspection completed, before signing a legally binding contract

If you find your dream house, your next step should be to hire an independent property inspector to complete a detailed report on the house which you’re interested in purchasing. As they may very well find faults, which should decrease the property’s asking price. As an example, while a house may seem structurally sound, it may, in fact, require expensive structural repairs, which you may not be able to afford.

So if you’re in the market to purchase a new property, it’s well worth keeping the 5 valuable property tips listed above in mind, when it comes time to search for the perfect property.