our end! You have achieved a great financial achievement. You saved up to $1,000.
Now is the time to take the next step in your journey towards financial independence. This means making your money work as hard for you as you do for it. How do? By investing wisely.
Check this out: If you could invest $1,000 each year – that’s only $3 a day – and earn 15% of it for 30 years, you’d end up with over $500,000! This changes the rules of the game.
But how can you earn 15%? There are no guarantees, but here are some ideas that will get you started with $1,000 or less.
1. Investing in real estate (as little as $500 USD)
It used to be that investing in commercial real estate, such as apartments or office buildings, required a lot of money and a lot of experience.
Today, thanks to an online investment platform called Fundrise, you can invest in commercial real estate for as little as $500.
Fundrise combines the latest technology, in-house expertise, and low fees to place you in institutional quality real estate, including private projects not available in the public markets. These are the types of deals that were previously reserved only for the wealthiest investors.
And what about returns? According to Fundrise, the average investor in their projects has increased 26% over three years and more than 50% over five years.
You should never pin your hopes on past performance because it is never a reliable indicator of future results. However, this is a proven track record, one that requires virtually no effort and comes without the vagaries of the stock market.
Don’t sit on the sidelines. If you are ready to become a real estate investor, start now.
2. Appointing an investment specialist
In the past, figuring out what to do with your money was as simple as deciding whether to put your money into a savings account or the stock market.
Over time, investing has become more complex. You can invest in mutual funds, ETFs, cryptocurrencies, precious metals, bonds, REITs, stocks, or countless other options. And you can choose many ways to do this, including in a regular IRA, Roth IRA, Roth 401(k) or 403(b), 529 college savings plans, health savings accounts and more.
Not sure where to start? save yourself from headaches and seek help from a professional; Maybe not with your first $1,000, but as your savings start to pile up. In fact, even if you only have $1,000, using some of it to purchase a financial plan that can help guide you is not a bad idea.
The value of working with a financial advisor varies by person, but according to an independent study, people who work with a financial advisor feel more comfortable about their finances and can end up with about 15% more money to spend in retirement.
Finding the right financial advisor is easier than you think. With a free matching service called SmartAsset, you can contact credit advisors in your area; This means that they are legally obligated to put your interests before theirs. You can also usually get a free appointment before making a decision.
A good investment expert will help you set goals and make a logical plan for your personal situation.
If you are ready to match with a counselor who can help you make the right decisions, start now.
3. Leave a million dollars to your family
You have a lot going on. You have a family to take care of, a house to clean, a job to do and a million other things on your plate to keep track of. Life insurance shouldn’t be one of those things.
Life insurance is an important part of any financial plan, but that doesn’t mean you have to jump through hoops to get it. With a company called Bestow, you can get a lifetime insurance policy in minutes — for just a few dollars a month.
Bestow is known for its hassle-free approach to insurance. You don’t even need a medical exam to get started. Simply enter some basic information about your health and your family, choose a coverage amount between $50,000 and $1.5 million, and they will give you a quick and hassle-free quote.
You can get the quotation online for free, it only takes 2 minutes.
4. Earn 5% while helping small businesses grow
You wish to find a savings account with 5% interest. These days, you’d be lucky to find anything close to 1%. Well, now there is something you can do about it.
Worthy is a new way to earn up to 5% interest on your money while helping small businesses grow. That’s right, that’s a flat 5% benefit, doubled daily.
Worthy offers Securities and Exchange Commission-qualified bonds that focus on small businesses with societal impacts.
Moreover, there are no fees and penalties, and you can access your funds at any time.
Yields are 5% per year, allowing you to get more for your money than you get with some other types of bonds – and definitely outperforming high-yield savings accounts.
If you’re ready to join the Worthy community of over 100,000 American families, visit Worthy to learn more and get started.
5. Invest in Amazon, Facebook or Tesla with just $1
If you had invested $1,000 in Apple shares when they first went public in 1980, do you know what they are worth today? About $1.2 million. This is an annual rate of return of close to 20%.
Obviously, not all stocks are like Apple, but there’s no reason to stay on the sidelines while watching companies like Google, Facebook, Microsoft and Amazon double and triple in value.
The good news is that you no longer have to have a lot of money to enter the stock market. With an investment app called Stash, you can invest in almost any company for less than a dollar. So $1000 can easily buy you a variety of companies.
Of course, sometimes stocks go down or up, so stay tuned and don’t put so much into the stock market that you get nervous. Don’t get ahead of yourself.
Depending on the stocks you choose, you can even receive regular dividend payments as part of quarterly profit sharing plans – just for owning a small portion of the company. Reinvest those profits and keep your portfolio balance growing.
It only takes two minutes to sign up, and you may be on your way to reaping the benefits of owning a large part of a major company.
In addition, you will get a $5 Welcome Bonus after depositing $5 into your account.
6. Earn 20 times what your bank pays
Are you earning as much interest as possible on your savings? The national average annual return (APY) among savings accounts is a meager 0.06%. At this rate, a $10,000 credit earns only $6 per year!
Instead of settling on a meager return on a more traditional savings account, open a rewards checking account with Axos Bank and earn up to 20 times the national average.
When you combine the best services and accounts, including bonus checking, at Axos Bank, you can potentially earn up to 1.0% APY. Best of all? There are no monthly service fees, and there are unlimited ATM fee reimbursements, so you can access your money from anywhere.
In addition, every account is backed by a 100% risk-free return and is insured by the Federal Insurance Corporation (FDIC). No more risks, more rewards.
So, if you’re ready to beat the local banks and earn up to 1.0% interest on your insured savings, open an account today.
7. Learn and Earn
Although you don’t have to worry about the news, it is worth visiting expert sources to make sure you are up to date with the latest technology to earn more, spend less and invest wisely.
Solve? Sign up for our completely free Financial Conversations newsletter. Over a million Americans have done so, and they report saving an average of $991.20 each just by following our news and tips. So maybe next time you will have $2000 to invest instead of $1,000!
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Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click on links in our Stories.