Though your 401k and IRA can still provide some support, it is still in your best interest to invest. If you have a full-time job, however, it can be difficult to work and invest at the same time.
Before putting a single cent into investing, you need to know what you’re getting into. Read personal finance and investment books in your spare time instead of plopping down on the sofa to watch TV. What you do in your free time will determine your financial future. Once you have a better grasp of what investing is, then you can involve yourself in any of these assets.
Invest in What You Believe In
Stocks are easy to get into but difficult to master. The beauty of this investment type is the relatively low entry cost. Stocks can be bought at less than $5 per share — a huge difference from real estate which can cost upwards from $5000 to get into. The volatility of stocks is also well known. It is usually best to start with companies that are known to be stable and give regular dividends. Find a company that you are familiar with and want to support. This can help you determine how well their stocks may do in the long run.
Profits from Property
Real estate investing is more management intensive that investing in stocks. If this is more to your liking, though, there are ways to make it work. You can purchase turn-key real estate, which has been bought and processed by a company specialized in buying properties, to lease out. With these types of real estate, the company you bought it from will handle it as a property manager, leaving you to only collect your profits every month.
Be open to finding alternative income generators. If you look closely enough, you’ll find that there are plenty of options for investing without breaking a sweat. The most important point to remember is to know who and what you’re investing in, as well as knowing how you earn from it. This way you can begin securing your future with ease.