You’ve already got your own little business going, and you’re beginning to get a feel for freedom. Expand your experience to include financial freedom, and your career as an entrepreneur will be unstoppable.
Investing the money you have to make more money is a mind game. If you have enough information in your mind, you have all the tools you need to grow your funds. Take a moment now to read through a few wise ways to invest your money, and start planning for greater times ahead.
Real estate is good for your portfolio
Adding real estate to your financial portfolio will make it more attractive to prospective lenders in the future. If you need a chunk of money to start your next business, a financial portfolio that includes real estate looks more stable to lenders.
You may even want to vary your real estate investments. There’s more than one way to invest in property. You can choose to purchase an RMBS (Residential Mortgage-Backed Securities) investment, you could invest in a rental property, or you could purchase a home for yourself and your family.
Money market accounts
A money market account is set up as a savings account, but the terms surrounding the account are a bit different than a traditional savings account. Money market accounts aren’t FDIC insured, but the benefit is that you’ll get a healthier interest rate on your funds.
If you’re opening a money market account, you will likely have a minimum balance to maintain. UFB Direct is well known for a top interest rate. However, the minimum balance for UFB Direct is $25,000, so it’s not for everyone.
Certificates of deposit
Certificates of deposit (or CDs) are another sort of savings account. The rules of a CD typically involve a period of time where you must let your money sit. The hold time frame can span from 90 days up to five years on a CD investment.
In exchange for allowing the bank to hold your money, you’ll get a great interest rate on your dollars. CDs are also FDIC insured up to a quarter-million dollars, so you won’t have to worry about losing your investment.
Consider an index fund
If you’re not sure yet about how to really make solid investments on the stock market, you may want to consider investing in an index fund. Index funds are less expensive to maintain, and you’ll get a portfolio of stocks or bonds to get you started on your investment journey.
Invest in yourself
Never stop learning. Invest in yourself and your mind, and you’ll keep moving forward in your personal and professional life. Be hungry for new knowledge, and never let yourself become sedentary.