A lot of people think it takes a big salary to spend money on business, but it doesn’t. Maybe it’s hard to believe, but even students can start investing. Even if they have only 50 dollars, they can increase their capital. We will tell you about several popular ways.
1. Start Earning on Precious Metals
You can invest your money in gold, silver, platinum, and palladium. Precious metals are always priced, even in times of global economic crisis. In unstable times, their prices rise with demand.
The most popular precious metal is gold. It is stored in the reserves of central banks all over the world. Silver – in second place. It is very affordable. On the site https://www.pacificpreciousmetals.com you can buy one silver coin for $21.59.
There is also a large selection of gold, platinum, and palladium coins. Some people will also like that the site presents copies from different countries.
Like gold, silver is more valuable in times of recession and crisis.
Platinum and palladium are not as popular as silver and gold. These metals are used more in industry, therefore demand and price increase during the overall economic growth.
2. Launch a Savings Account
You should think about opening high-yield savings account if you are looking for a simple way to increase your money. Unlike other accounts, it allows you to get more interest at the deposit rate and withdraw funds at any time.
They say this type of savings account is a very safe investment. Every month you will receive a fixed interest rate just for transferring capital to the bank for a certain period of time. It’s a good way to tap into capital that you won’t need anytime soon. In this case, your account won’t be affected by stock market sentiment.
3. Try on a Modern Technology
Robo-advisors are another simple way to start a long-term investment. You don’t even need experience in investing. After a few questions, the Robo-advisor will invest your money in an inexpensive but profitable company. With special algorithms, he will choose the best solution for your account and taxes.
The only disadvantage is that Robo-advisors ask for an annual payment of about 0.25% of your balance.
4. Try Luck on the Real Estate
It’s hard to believe, but everyone can invest in the property now. Crowdfunding in real estate allows you to become a partial owner of a big property without having to bear the full responsibility of a homeowner.
Probably you will need a little more money than in the case of Robo-advisors. The financial risks in this method are also higher as you invest in one property. However, you share costs, risks, and liabilities with other owners.
This is a good way to know about investments in real estate, but it is probably not necessary to immediately invest all your capital in it.
5. Use the Services of a Free or Inexpensive Broker
As a rule, brokers take a lot of money for their work, but there are inexpensive online brokers who offer cheap deals with shares and ETF. They also provide information that will help newcomers start their journey.
In addition, there are fully free brokers, which is ideal for students. Among them, are Robinhood and Webull.
It’s a nice opportunity to try out on the stock market even with small capital. Everyone can invest a couple of tens of dollars and do not make a serious commitment.
In addition, you can buy part of the share. For example, one share of Apple costs about 370 dollars, and you can for a few dollars become the owner of its part.