How do I get started investing? What steps do I take? Where should I invest my money?
Do you find yourself asking these questions when it comes to getting started? Investing is complex and there are many ways to invest your money. There is no correct way for everyone. Some people like RISK. Some people don’t have the stomach for risk. People are different and you should pick one of the many ways for yourself. We will cover Real Estate, Stocks, Bonds, Options, Futures and many other ways you can invest your money. Again I am just an average Joe who likes to invest so always check with a qualified professional before moving forward as investments are risky. On the other hand without risk, you will never get anywhere. Risk is a necessary evil if you want to make a high return on your money. On here I hope you can use what I have learned to ask the right questions and to start thinking about how you want to invest!
The money markets are not easy to comprehend. The vast amount of options leaves many people feeling puzzled about how to put their money to work for them. Most people feel so overwhelmed they just put the money in the bank. This is especially true for new and some old investors. This is sad because if they took care of their money and assets they could have much more.
Frugal Wizard is here to help you learn. Helping you do more with your money, no matter your level of money skills. The website is designed to lead you through the basics of investing. Just keep in mind that investing is risky. The higher the return usually means the higher the risk of losing your money. That’s the nature of the markets. You can’t eliminate that risk! You can be a hands-on investor who makes educated choices. Buying shrewdly allows you some safety.
In Frugal Wizard’s online getting started guide we try to point out things to watch for and what to avoid as you research various ways to increase your nest egg. The attempt is to show you how to buy right, avoid the many scams, use risk to your advantage and maximize your odds of reaching your savings goals.
One thing we never do is tell you what to buy. There are plenty of ideas on Frugal Wizard to point you in a direction. Then it is up to do your own DD (Due Diligence) to pick how you want to invest. What we try to provide are valuable ideas on buying smarter. This allows you the freedom to follow your own investment personality. How you relate to money is something you have to learn about yourself. For example how you handle risk and how much you can push yourself to invest. It takes time to grow your investments. The more you have your debt and spending under control the more you can focus on growing your money. There is nothing better than putting your money to work for you and watching it increase.
The worst thing that can happen is inaction. Inaction due to being overwhelmed with so much to pick from is what causes most people to be poor for their whole life. Grab something from the investment choices below and learn more about it. See if it interests you and then go from there and start conquering your investment fears. Knowledge is power and using knowledge to grow your money instead of spending will set you free. Quit making everyone else richer it is time for you to be financially free.
What should I invest my money in?
Here is a list of investment ideas:
- Mutual Funds
- Real Estate
- Tax Liens
- Penny Stocks
Another great way to invest is to invest in yourself. I am not saying go back to school but when was the last time you read a book on self-development? Took a positive learning course or some other positive reinforcement? With all the negative news and information out there today investing in yourself and learning how to be positive can be one of the best motivation investments you will make in your life! Once motivated a person can almost do anything including paying off debt. Unmotivated people sit on the couch and watch TV wasting their lives away. I know I have been there and done that! In fact, it seems as you get older it is easier and easier to gravitate to this and repeat it day in and day out. Some of you might remember the show “Groundhog’s Day” where Bill Murray keeps living one day over and over. We all get stuck in a rut and keep doing the same things over and over. Look where that has gotten you and start making changes today! Invest in yourself and start making changes to get out of debt and start investing that hard-earned money. Set yourself on the road to financial freedom.
Hopefully, you will find something of interest and research it and get started!