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After paying off existing debt the next best thing once you have an emergency fund covered is stocks and maybe a little crypto if you're feel like future proofi
by joe_91 6y ago
After paying off existing debt the next best thing once you have an emergency fund covered is stocks and maybe a little crypto if you're feel like future proofing yourself.
The yield on government bonds is really low at the moment and p2p loans can be finicky at best (I've lost more money than I've made from Mintos...).
Stocks have been giving great returns over the last few years and while there's almost certainly going to be a correction at some point its the only real place where you can get proper returns at the moment. You could invest in ETF (Exchange Traded Funds) which track certain buckets of funds like the S&P500 or invest in stocks individually.
Get yourself setup with a trading account - this varies by country and they have different fees etc but google should be able to sort you out here.
- ipop 6y agoI don't have the necessary financial knowledge to learn how to trade efficiently. I know it's now just buy low, sell high. The problem is when and what to buy. The only thing that I could do regarding this is use a platform like etoro and their copy feature.
- joe_91 6y agoThats the great thing about Exchange Traded funds which track an index - there's no thinking to do just invest in the fund for example this is a popular one: Vanguard S&P 500 ETF (VOO) And when you buy this you are effectively buying, Apple, Amazon, Google, Johnson & Johnson, Procter & Gamble Co, NVIDIA etc because the fund will go ahead and buy all the largest 500 US companies weighted by market cap. The S&P500 has returned an average of 12% a year for the last 10 years.
- ipop 6y agoFound something interesting - https://www.upmyinterest.com/article/investportfoliolt https://www.upmyinterest.com/article/investportfoliolt SP 500 was -5.9% in 2018, but it went up to 31% in 2019...pretty fair.
- ipop 6y agocrypto...I wanted to buy btc when it was 16k, then thanked myself I didn't (it crashed to 8k) and now it traded for 25k+...same with XRP
- quickthrower2 6y agoIf you want to dabble you could buy a little bit each month over a few years. Whatever you can afford to lose. You’ll the buy the dips as well. With bitcoin no one knows the “true value” and it’s hard to assess like a stock.