Despite reading and listening to various financial management books, I consistently come across the idea that investing a portion (typically around 20%) of your income is necessary for achieving wealth.
As a result, I have started implementing this practice in my own life and have observed that people are willing to invest their money anywhere, even if it seems like a scam due to the high promised returns. I am curious if any users on this forum save or invest their money, and if so, where do they typically put their funds, such as in bank deposits?
To cover my monthly expenses, I typically leave about 10-15% of my earnings ($40-$50) in my wallet from the profits of my website, while the remainder is withdrawn and deposited into a real account that provides a 10.4% return.
As needed, I invest in myself and make sure to pay all necessary taxes. I prefer to keep the rest of my funds hidden from the state, as they have a tendency to take money from average citizens. I do not trust any banks, and I am aware that there are no fully guaranteed investment opportunities currently available, which is not unexpected.
As for me - a rather tricky subject. As a rule, in the stock market, investors usually hold an "investment portfolio" consisting of shares of various companies with the condition that they diversify one another. Investing in cryptocurrencies is now quite risky in my opinion.
So, I think the only opportunity for an inexperienced investor is to be guided by the advice (or copy) of professionals. Of course, for this they must first be found. :-\
I guess just having a deposit or buy stocks is enough. I'm never investing again since i've once failed with cryptocurrency investment. Maybe if i would do it a decade ago it would turn out much better.
There is a golden rule 80/20. 20% of efforts give 80% of the result, and the remaining 80 - only 20%. The same rule works in economics, and it sounds like this: the right 20% of your funds will bring you 80% of all your profits.
As for investments, I personally divide them into 3 portfolios: a bank deposit, shares and investment raw materials. Everything is clear with the first one - $100,000 (for me personally) is in the bank at 8% (pennies, but they are used as a bookmark). Stock. I buy shares in medical companies in 80% of cases (I especially won during a pandemic). Investment raw materials - we are talking about investing in yourself (courses, trainings, improving relations with partners, etc.)
I invest in my education and my son's education. I think it's the best investment. As for savings, I have a money box (it's a service of my bank - 2% of my spent money go to this money box). The worst thing is that I can spend the saved money any time... I think I will invest one day, but I have to read more information about it.
I tried to put together an investment portfolio. But problems with work began and I had to sell the entire investment package. No investment yet, until I fix the situation in my life
:-\
Personally, I try to invest in real estate all my free assets. The crypt is not stable, the stocks too, but the construction is the most profitable, especially if you later sell this building for rent, and so on
There is such a good saying — don't put all your eggs in one basket.
Therefore, the best advice would be to diversify your investments. Personally, I would recommend index funds (ETFs). In several top ones. Plus, they are already diversified by themselves.
If you are not familiar, I recommend you to get acquainted. I believe that this is the most optimal and reliable option.
Despite the fact that almost everyone is familiar with the concept of investing, few people know that investment can be different. Before you choose an investment object, it is worth understanding its types. They classify investments according to several main factors that should be studied in advance.
Investing in internet projects like blogs and online stores is a promising option for earning steady income. Despite the popularity of this direction in the past, the pandemic and quarantine restrictions have led to a surge in online formats. Similarly to investing in a business, you can support the development of a product and receive dividends, with the possibility of selling your share in the future for better terms.
Venture funds, which are expected to focus on improving work processes, including remote work optimization for traditional offline businesses, offer an average profit starting at 8% per year, but require a minimum investment of $25,000.
Stock exchange-traded funds (ETFs) are a popular option among depositors as they allow for co-ownership of various companies by investing small amounts. This option is suitable for those looking to invest an average of $200-$350 to receive a monthly income.
It's important to choose a reliable intermediary and research which funds pay steadily over a long period. Investing in valuable metals like gold or silver can also be profitable, with gold being currently undervalued and silver on the rise. Depositing bullion in bank storage cells or opening a metal deposit account is possible, although fewer banks offer these services now.
Investing money is the process of allocating funds with the expectation of generating a return or profit over time. It is a way to grow wealth and reach financial goals. Here are some key points to consider when it comes to investing money:
1. Set clear financial goals: Determine your objectives for investing, such as saving for retirement, buying a house, or funding your children's education. Having specific goals will help you make better investment decisions.
2. Understand your risk tolerance: Consider your ability and willingness to take on risk. Some investments carry higher risks but also have the potential for higher returns, while others may provide more stability but lower returns.
3. Diversify your portfolio: Don't put all your eggs in one basket. Diversifying your investments across different asset classes, industries, and geographies can help spread risk and potentially improve returns.
4. Research and educate yourself: Take the time to learn about different investment options, read financial news, and understand market trends. This knowledge will empower you to make informed investment decisions.
5. Consider professional advice: If you're uncertain or lack expertise in investing, it can be beneficial to seek advice from a qualified financial advisor. They can guide you based on your unique circumstances and help create an investment strategy that aligns with your goals.
6. Regularly review and rebalance your portfolio: Market conditions and personal circumstances may change over time. It's important to periodically reassess your investments and make adjustments as necessary to stay on track.
investing involves risks, and there is no guarantee of making a profit. Be cautious of scams and high-promise investments that sound too good to be true. Always do your due diligence and exercise prudence when investing your hard-earned money.