Do you wish you could figure out how the rich got rich?
Are you thinking ahead to your retirement years and wondering how you will afford to retire?
Many people come to me for financial help.
They understand that they should invest but don’t really know how to get started and the unknown keeps them from doing anything at all.
I've discovered many personal finance beginners will ask if they should have investments or savings account, as though it's a matter of choosing one or the other.
Saving and investing are different, and most everyone needs a combination of savings and investments to reach their financial goals. To help distinguish between the two financial tools, I wrote: Understanding When It's Right to Invest or Save
The key to finding the top savings accounts at the best online bank comes down to interest rates. Most online banks have very similar fee structures and very competitive to their local counter parts.
The best online bank for you may depend on a lot of factors outside of the interest rate, which is why minimum balances, fee, and other details.
Different Types of Investing
The act of investing simply means you’re using capital to buy financial instruments with the goal of earning a profit. There are a variety of investment types, from real estate to stocks, bonds, mutual funds, commodities, collectibles, foreign exchange, and financial derivatives.
The investments you choose will depend on your personal goals and risk tolerance. Before you can understand which investments are best for you, you need a basic understanding of how investments work and an Introduction to Asset Allocation.
Here are some articles I’ve put together on the various types of investing to help you get started learning the basics:
Real Estate Investing
I once told a friend I was going to buy 10 rental properties in a year, after buying my first duplex. I learned pretty quick I had no idea what I was doing with real estate investing. Here are some articles to help you avoid making the same mistakes I made:
- How I Make $250,000 A Year in Real Investing (and I’m only 29)
- Must Read Property Guide to Buy Foreclosed Homes and Make Money
When you're planning for wealth needed in the future – investing is the way to get there. Retirement savings are actually investments, because you aren't planning to pull money set aside for retirement until you actually retire – many years from now. The time allows the money the opportunity to grow. Learning how to invest effectively will increase the amount your money grows: