How To Invest – Where To Start?
So this is the start of your wealth building journey and if you’ve made it here… congratulations! You’re taking the first step to growing your wealth and hopefully achieving your financial goals. So where do you start? Good question… really the only way you can grow your money consistently and at a fast enough pace to see a real difference, is by INVESTING.
*Just a note of caution here… If you are still in debt, you really need to get that paid off first, before you can think about investing. You can read my How To Eliminate Debt Now guide for step-by-step help. So go and do that first!
Now, ideally you’d need to have some capital to get the ball rolling and put yourself in a good position to start investing, so if you don’t have anything saved yet, don’t worry. There are some things you can do to get that first bit of seed money for investing with, which I mention in my How To Make Money Online post. I think US$500-$1000 should be enough to get you moving.
Investing is quite a broad term and you need to look at what area would be the right fit for you when looking at your different options. I’m going to list a few of the more “beginner appropriate” places you could look into and make your own mind up what’s best for your individual situation.
First up on the list is precious metals – Gold and Silver
You can do this in a number of ways such as: buying gold coins or silver coins privately, when the market or “spot” price is good and then hanging onto them until the price goes up enough that you can sell them for a tidy profit. The same goes for jewellery with this too. The other way to do it is investing in gold bullion