Investing is probably one of the most discussed topics lately and it might seem like a daunting process that requires a lot of strategies to eventually get a hang of it. However, that is not always the case, as you can start investing where you are right now with what you have. You don’t have to be the richest or know all the latest financial terms before you can start investing.
Technology in 2020 has advanced more than ever before and this has made investing much easier. Some of the best investing apps UK for 2020 make it easy for anyone anywhere to invest with whatever amount they have. The process is quite simple and straightforward.
Here are a few interesting ways to start investing with the little you have:
1. Stocks, Mutual Funds, ETFs
These three are common investment options often talked about today and happen to be the most traditional ways to invest. A report from 2019 found that 2.2 million people in the UK were subscribed to a stocks & shares ISA account. At the end of 2018, it was found that UK-resident individuals held 13.5% of the UK stock market. The stock market is gradually growing in the UK as more people get to understand how it works.
In the last 60 years, stocks have been found to have an average of 7% return, making it a more viable investment option, especially for the long-term. To make the most of this, use one of the latest investing apps, and have a diversified portfolio or look for ETF services to provide solutions designed to meet the your fund needs.
2. High-yield Savings Account
This option is preferred for people who get scared of the word- investments and would like to start small. If you worry about losing your capital while investing, you can look for high yield stocks or savings options that can provide the best return. This is still a form of investing but with lesser risks and it will also get you familiar with how investing works and increase your risk appetite along the line.
Some of the best online high-yield savings accounts have better returns compared to the traditional banking system and you can take advantage of that especially in your early investment years.
3. Real Estate
Real estate has always been an expensive investment option but lately, new easier options have emerged to make it relatively easy to invest. Depending on the platform you use, you can invest with a minimum of as little as $500 to $1000 or even less. The real estate industry will always be a lucrative one and investing in it is a great idea.
Thanks to technology, a lot more things are easier to do today and this includes investing. Embrace some of the readily available apps to buy equities of companies you are interested in or invest in other things and industries that appeal to you. There is never a better time to start investing and you don’t have to wait until you have it all figured out. With the right apps and resources, you can get started and commit a specific percentage of your income monthly or weekly.