How To Start Your Investor Journey: 5 Credible Options To Explore

Published on: 04 February 2022 Last Updated on: 04 September 2024

If you want to have a comfortable financial future, you should start investing.

You must have understood that the trajectory of our lives can change anytime, and one of the most recent examples of that trend is the COVID19 pandemic.

We have seen how a subtle, and stable economy can be turned over its head in a matter of few days during this time.

During that time, people started investing in digital currencies such as ekrona to get a reasonable return.

However, there are other investment options too. So, if you want to know about them, keep on scrolling.

Why Should You Invest?

Investing is an excellent source of passive income, and even if it sounds risky, there are plenty of safe investment options available in the market too.

If you want to build a retirement fund, your only viable option is to start investing right now. This way, you’ll have an emergency fund too if your loved ones fall sick suddenly or you need a capital amount to start a new business.

Top 5 Credible Investment Options To Explore

If you are willing to take a little risk and start your investment journey, there are plenty of options to choose from. We are bringing the most credible ones here so that, as a beginner investor, you don’t have to go through too many complexities.

Let’s take a look:

1: High-Yield Saving Accounts

This is the safest yet more convenient investment option. The higher your cash balance is in an account, the more interest you get.

They don’t have many overhead costs, which is why they let you earn much higher interest rates at online banks.

If you want to access the fund immediately, you can always transfer it back to your account and withdraw the cash via an ATM.

These are the safest investments because even if you don’t get a good return, you also don’t lose a dime.

2: Deposit Certificates

Banks issues deposit Certificates. They usually offer a higher interest rate than savings accounts, which makes them an attractive investment choice.

If you are looking at short-term certificates, they will be better options when you expect those interest rates to rise, enabling you to reinvest at higher speeds when the certificate reaches its maturity.

These time deposit certificates are federally insured, and they have specific maturity dates that can range from weeks to years.

This may be a drawback because you can’t withdraw the money before a certain period without giving a penalty. But, if you need immediate income in a short time, this is undoubtedly a good investment option to explore.

3: Government Bonds

You can always invest in government bonds if you want a risk-averse investment option. For example, you can invest in mutual funds or ETFs, which won’t expose you to market vulnerabilities.

Some government bonds also invest in debt-backed securities issued by government-sponsored business enterprises.

Even though these investment options are considered low-risk, if interest rates increase, their return would decline.

However, if you are stepping into the world of investment opportunities, this can be an excellent place to start and ensure a steady cash flow.

4: Dividend Stock Funds

Dividend stock funds are a good investment option for almost any investor.

Those who need revenue and can stay invested for extended periods may find these stock funds attractive.

If you buy a group of individual stocks that provide a certain margin on dividends, you can generate a sufficient return on it.

On top of that, if you invest in dividend funds, your stock market investments also become less risky. So the best part of dividend stock fund investment is you generate a substantial return on both short, and long-term prospects.

5: Cryptocurrency

The most popular Cryptocurrency is Bitcoin. Although its price fluctuates significantly, the digital currency world attracts many investors.

In fact, Bitcoin being the most popular digital currency, soared up to $30,000 at the start of 2021. However, it also declined by $60,000 before falling back into the static zone

We understand the start of 2022 was rough for Cryptocurrency, but it is still a plausible investment option to explore.

In fact, it is quite usual for these digital currencies to fluctuate markedly before eventually rising further. So those who bought and held may undoubtedly have a good return on their investment before this year comes to an end.

The Bottom Line

If you have gone through the article, you must have figured out the most credible options to start your investment journey.

However, you must keep in mind that all investments come with a bit of risk, and nobody can control them.

If you are willing to take that risk, start investing right away. For further information, let us know in the comment box below.

Read Also:

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

View all posts

5 Ways First Time Traders Can Protect Their Bitcoins Against Thefts In 2021

Hacking is the new way of robbery that has happened in the digital world. If you think that your Cryptocurrency assets are safe just because it is online, then think again. If you are new to the Cryptocurrency industry, you must be aware that this industry lacks the same level of security that you get from the banks. Before you can move forward with your Crypto investment, let’s first understand how secure Cryptocurrency is. How Secure Cryptocurrency Is If you are thinking of investing in Cryptocurrency, you will be aware of the Blockchain technology backing the Cryptocurrencies. Blockchain technology records the transaction in the blocks with a timestamp. This process is quite lengthy and complicated, but the result is a secure digital ledger. The transaction also goes through two-factor authentication. While the security measures are in place, this doesn’t mean that Cryptocurrency is immune to any external threat. Although Cryptocurrency is considered the safest mode of transaction, its connection to the internet makes it vulnerable. Save Bitcoins Against Thefts - Protection Of Cryptocurrency There are various paths to safeguard and reduce the chances of stealing. For example, using a secure platform like bitcoin prime, you can ensure that your digital assets are safe and secure. Here are the other methods you can use to protect your Cryptocurrency assets. Protect Bitcoins Against Thefts #1. Use Strong Passwords Using a strong password is the key to safeguarding your digital assets. Never reuse passwords across your accounts, especially for Cryptocurrency accounts. Assume that all of the accounts will eventually face data breaches, and having the same password for all of them means all your accounts will be hacked. To ensure such a scenario never surfaces up, use different passwords for different accounts. This helps you keep other accounts safe in case one of your accounts gets hacked. Protect Bitcoins Against Thefts #2. Work With Reputable Crypto Wallet Before deciding a platform to use for their Crypto investment, you must take your time, do thorough research and select only the best Crypto wallet for trade. Make a checklist of the security features that the platform needs to have before qualifying as a safe call for investing. Using more than one platform can add an extra security layer as long as the two accounts have different strong passwords. Protect Bitcoins Against Thefts #3. Avoid Sharing The Secret Key The secret keys are used to validate the transactions. Hence, the secret keys should never be shared with anyone, even if you think that the person standing in front of you is trustworthy enough. The safest way to store your private keys is to store them in cold storage. Cold storage is the process of printing out your keys and erasing their digital footprints and traces. With how easily hackers can get access to the machine, keeping your data online is highly risky. Protect Bitcoins Against Thefts #4. Protect Yourself From Phishing Many people with Cryptocurrency wallets use mobile applications to trade. However, as their prices soar high, hackers target users using mobile phones to make transactions and trades. These social engineering attacks can come from any angle. For instance, you might receive unknown text messages, social media messages, or emails. Protect Bitcoins Against Thefts #5. Ensure Vendor Provides Indemnity This is related to the vendor’s error, failure to perform, and negligence in managing the platform. Having a strong indemnity provision added to the contract so that it protects your digital assets. When you are taking help from a platform, ensure that the platform is offering: A large balance sheet to back their indemnity. Insurance to cover financial harm you accrue due to their negligence. Conclusion Cryptocurrency is a dynamic industry. You need to be proactive to keep up with the changes. The same thing can be said for its cybersecurity. Digital assets being connected with the internet are more prone to risk than traditional assets. Hence, it is important to implement the right cybersecurity protocol to keep them safe. Read Also: Using Social Media to Promote Start-Up Businesses How To Become A Successful Cryptocurrency Trader In 5 Easy Steps HOW TO EXCHANGE BITCOINS AND OTHER COINS ON BINARYX?

Forex Trading Wisdom: Talk Yourself Out of Bad Trades

Once you have your trading strategy set up, your charts are in place, you’ve looked over the news and you’re ready to roll into today’s trading, what can you do to keep yourself on the right track? One answer is your broker. A good working relationship with your broker can help you stay in line with your trades. But once in a while, you just get an urge to go above and beyond your own trading style and strategy and throw money into a bad trade. Why would you want to do that and how can you stop yourself? Even though it’s contrary to any strain of trading wisdom, it happens. Here are some of the reasons it might happen to you. Complete Boredom: One of the biggest pitfalls of trading in forex is the boredom that you can experience between trades. As you’ve experienced, it can be painfully boring to sit at your computer waiting for a breakout or for some news event that will trigger some action. Patience is your friend here. Try talking yourself out of making a stupid trade by thinking about what you can do with the money that you’ll most likely be losing. Think of ways you can profit from that money rather than throwing it away on a bad trade that does not fit into your trading style. Since at this point you realize it’s a bad trade, you can think through the consequences and decide against it. Financial Pressure: Many a rotten deal has been the result of some sort of pressure. Pressure to bring in a quick buck due to increasing financial needs is one of those pressures. Keep in mind that trading forex is not like buying a lottery ticket where you throw your money into a cause that is surely going to lose. The odds are against you in either case. This is not a toss the dice game to find out if you win or lose. There is specific logic that goes along with trading to win. You’ve done your homework, developed your strategy and even tested it now. Don’t throw it all to the wind in one dumb trade. Trust yourself, have confidence in your trading strategy and continue to have a winning attitude rather than one of defeat. Goals Out of Reach: If you have set your goals for trading too high, you could be feeling frustrated. Don’t let that frustration lead you to take on a bad trade in hopes of winning. You have the experience under your belt to know that it is very unlikely that you will gain anything from a bad trade. Besides the actual loss in your trading account, it will cost you money in commissions to your broker. Lower your goals so that they are realistic enough that you can meet them, and then gradually increase the bar. In short, trust the hard work you have put into getting this far and don’t throw it away on a bad trade! Read Also: What To Expect When You Become A Forex Trader Top 9 Forex Trading Tips For Beginners That Save You Money

4 Payday Loan Facts You Should Know Before You Borrow

Convenient, speedy, and available with bad credit. These are just some of the benefits of getting payday loans, but do these stats give you the whole story? Keep reading to find out more about this kind of small-dollar loan. 1. You Can Find Online Payday Loans People often lump in payday loan lenders with check-cashing businesses and pawnshops. And it makes sense — all three organizations provide small-dollar, short-term loans with high-interest rates. However, payday loan lenders are unique in that many of them operate online with no physical branch. Instead of walking through the doors of a brick-and-mortar store, you can fill out an online application for quick cash from your phone or laptop anywhere, anytime you have data. If approved, your borrowing experience unfolds entirely online, too — from collecting your funds as a direct deposit to arranging an automatic withdrawal to come out of your account. Check cashers and pawnshops, on the other hand, do all this the old-fashion way: in person. 2. Fewer People Used Payday Loans During the Pandemic According to the Pew Charitable Trusts, approximately 12 million Americans used at least one payday loan in 2010 — whether from a storefront or online payday lender. Now more than 10 years and a global pandemic later, you might think these numbers should have multiplied. But early reports suggest fewer people had to rely on payday loans. The Online Lenders Alliance, an industry association for payday loan lenders, told Bloomberg the demand for small-dollar loans fell by 67% during the lockdown. Instead of borrowing, many people took advantage of unemployment checks, rent moratoriums, and other COVID relief resources. 3. Most People Use Them Incorrectly If you take a look at any legit cash advance direct lender’s website, you’ll see they market payday loans as an emergency stopgap when your savings fall short of what you need. In other words, you should only turn to payday cash advances in unexpected emergencies, like when your furnace dies one winter morning, and you need help covering the repairs. But what cash advance direct lenders advise and how people borrow don’t always match up. According to the Pew Charitable Trusts, 69% of borrowers use payday loans for expected expenses, like rent, utilities, and groceries. 4. Fees Vs. APR The reason why cash advance direct lenders say their loans are for emergencies is because of the cost. Let’s face it — payday loans are an expensive way to borrow. But do you know just how expensive? A cash advance direct lender might charge anywhere between $10 and $30 for every $100 you borrow. This may not sound like too much upfront, but it’s another story when APR enters the mix. Calculated on the annual percentage rate, your APR is anywhere between 300 and 600%. This APR might be OK depending on your budget, but it may be a challenge for people living paycheck to paycheck. That’s why a list like this is so important—it gives you the facts you need to make an informed decision about your finances. What’s your opinion now that you know about triple-digit APRs due back in two weeks? If this doesn’t sound like a good fit, explore alternatives like lines of credit or installment loans for bad credit. These options give you more time to pay what you owe, so they might be easier to handle on a tight budget. Read Also: 5 Benefits of Car Title Loans and One Important Warning Using Short-Term Loans to Help Rebuild Your Credit Score No Credit Rating Check Lendings Online split Second Authorization How to get a loan on a day with bad credit

How To Start Your Investor Journey: 5 Credible Options To Explore

Why Should You Invest?