Getting Your Feet Wet – Begin InvestingPosted: February 1, 2011
If you are anxious to get your investments started, you can get started right away without having a lot of knowledge about the stock market. Start by being a conservative investor with a low risk tolerance. This will give you a way to making your money grow while you learn more about investing.
Start with an interest bearing savings account. You may already have one. If you don’t, you should. A savings account can be opened at the same bank that you do your checking at – or at any other bank. A savings account should pay 2 – 4% on the money that you have in the account.
It’s not a lot of money, unless you have a million dollars in that account but it is a start, and it is money making money.
Next, invest in money market funds. This can often be done through your bank. These funds have higher interest payouts than typical savings accounts, but they work much the same way.
These are short term investments, so your money won’t be tied up for a long period of time – but again, it is money making money.
Certificates of Deposit are also sound investments with no risk. The interest rates on CD’s are typically higher than those of savings accounts or Money Market Funds.
You can select the duration of your investment, and interest is paid regularly until the CD reaches maturity. CD’s can be purchased at your bank, and your bank will insure them against loss. When the CD reaches maturity, you receive your original investment, plus the interest that the CD has earned.
If you are just starting out, one or all of these three types of investments is the best starting point. Again, this will allow your money to start making money for you while you learn more about investing in other places.
MLM is another way to invest your money. When you invest in MLM though you would have to research and make sure that the organization or company you invest in is legit and worth money, time, and effort. Yes, in MLM you have to also invest your time and effort but your investment grows faster, depending on how much time and effort you put in of course. And the best part about most MLM companies is that you may have the opportunity to make residual income. Residual income is money that you receive even when you are not putting in any time.
When looking for MLM companies to invest in you want to make sure that it’s going to be something you like doing. Most MLM organizations offer products or services. A few questions you might want to ask yourself before investing are, “Do I have to buy the product or service before I can offer it to others?”, “Do people need it or is it popular?”, “Are they a good company or organization?” There are many ways to find out which company is good for you and if it is a good, legit one. You can go to MLMRankings.com or Better Networker to find out which companies are legit and which ones are working for most people.
If you are interested in investing into MLM you can also check out this MPB Today! Report. There are also organizations out there that you can join for free and you never have to pay a dime such as Match Rate PLUS or Online MLM Secrets.
Hope this helps those of you trying to look for ways to invest!