Investing is one of the best ways to exponentially grow your money and achieve financial freedom. There's a lot of misconceptions surrounding this topic and this perpetuates the wrong idea that people need to have large sums of money in order to start investing. Our purpose for this article is to show you a simple way that you can use to start investing even if you don't have access to a lot of capital.
Things have changes a lot in the investment industry ever since the introduction of online brokerage platforms that are simple and accessible for entry-level investors. All you need to do is start by creating your account and depositing a small amount of money that you're comfortable with. There's a couple of ones that are used in South Africa which includes:
— Easy Equities
— IQ Option
As you can see from the list above, we've only cited the top 3 ones that are popular amongst investors.
Types of investments
When it comes to investing, there's a lot of options that you can choose from with varying degrees of risks and growth. For the purpose of this guide we have reviewed 3 investment structures and their risks.
— Stocks: In other words the term stands for "shares". These are pieces of a company that are made available to the general public to pool in money required for the growth of the business.
— Bonds: When you buy a bond, you are lending money to a particular entity and expecting it to be returned with interests.
— Mutual funds: People come together and contribute money to an account that is eventually invested in different securities.
The best way to describe this term is to think of it as buying only two cows. One which is a male and the other one is a female. Overtime they mate and reproduce offerings that also continue the process until they become many. You can take advance of this by opening an interest yielding account and investing your money up until it reaches it maturation date.
— Shop around and find our which bank offers competitive interest rates.
— Put away a small amount of money each and every month consistently.
We hope this article has opened your eyes and you now see that investing is not only reserved for people that are monied. For more informative articles like this one, make sure you follow us and be on the loop.
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