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Never Invested Before? 3 Ways To Start Investing For Beginners
Posted
February 28, 2022
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February 28, 2022
12
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2:39Now PlayingThere are three simple methods for getting started with investing. Check out the video to learn what to look for!
Welcome back to Bold TV with Philip Michael. Be sure to like, comment, and subscribe to Bold TV for other crypto news, and all things Bold.
You may have heard that inflation is out of control.
Your money in your account is actually burning a hole in your pocket, and you need to invest it. However, if you answer, "I'm not sure where to begin," we will tell you exactly where to begin.
There are three simple methods to get started.
Number one, you can get Robin Hood, the most popular investment app on the market.
You can simply go in and begin picking your own stocks. If you like Tesla, you buy Tesla; if you like Amazon, you buy Amazon; if you like Google, Microsoft, or whoever, you buy Google, Microsoft, or whoever; you can build your own portfolio this way.
Number two is apps like Acorns.
It's essentially a robo adviser who invests for you in a set of basic portfolios that you select. So it's completely passive and hands-off. And what it does is that every time you spend money, it rounds up to the nearest dollar and deposits that money into your investment account, which I think is incredibly cool.
So, without even realizing it, you're establishing a portfolio. As a result, it's a great hands-off method to begin investing. It invests in tried-and-true strategies such as index funds and other conservative investment vehicles. This is what Warren Buffett recommends: buy into the economy every month and it will eventually pay off.
Number three is you can find apps such as NYCE where you can own a piece of real estate to get into that as a class for $100 a pop.
This works in a similar way to how Robin Hood operates. Instead of looking for publicly traded stock, you can look for actual investment properties, such as apartment buildings with people living in them, and buy a piece of that. Whatever you buy starts at $100, and regardless of how much you earn, the rate of return is the same as if you invested in Tesla; whether you have $100,000 in a deal or $100 in a deal, everyone gets the same rate of return.
So that's another simple method to go about it.
There are a plethora of other options, but these are three simple methods to get started with investing: Again, the first method is to download Robin Hood and start building your own portfolio. Second, something like Acorns, which takes care of everything for you and eliminates the need for you to think about it. Finally, use apps like the NYCE app to invest in alternative asset classes like real estate, the world's largest asset class.
So three easy ways to get started with investing and building a diversified portfolio. What do you think? Let us know in the comments.
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