What investments can I do?
Before investing, you need to change your lifestyle and manage your personal money very well. This is the first step in the financial education. You need to have a personal budget and to apply the 50/20/30 rule in everything you do.
If you follow the 50/20/30 rule, you can save money and invest. At the same time, you need an emergency fund that would help you to take a one-year vacation everythime from everything you do. If an emercency fund for one-year vacation is too much, you need at least an emercency fund for 6 months, minimum. This will give you the confidence that you can mantain your lifestyle for a long period even if you lose your main source of income.
Second step, after you set a good lifestyle, you need to find other source of income, and is well known that for this you have to work a lot. But, when you will have more that one source of income, you can leave peacefully because no matter what happens of the main source of income, you are covered with others.
The thirs step is to create an investment portfolio. An investment portfolio can be:
1. Ccompanies that pay dividents annually. You can use the Tradeville platform. You can use the demo Tradeville platform for free. Most investors put their 50% portfolio in this type of investment.
2. Mutual funds. Most investors put their 25% portfolio in this type of investment. You need to invest a fixed amount of money month by month in mutual funds.
3. Risky investments: Bitcoin and other cryptocurrency. You need to put your money here just in the key moments of the market, if you are not an active investor in this direction.
4. Financial instruments. Most investors put their 5% portfolio in deposits, savings-credit contracts, etc.
Even if you are an investor, business person, or whatever, don't forget to save time and money for your familly, your hobbies, to learn new things and to live your life. Good luck!
Category: Investing