Let’s assume, for the moment, that you have developed good habits in your financial life. You pay your bills on time every month, you avoid credit card debt, and you save for retirement by maxing out your contributions to your company’s 401(k) plan. You’re living within your means but you’re not rich.
If you have $10,000 available, it’s seriously time to think about where to invest it. It’s not the kind of money you can take wild chances with, but you will want to start investing it in a way that will enable it to grow.
Unless you’re a day trader, you shouldn’t micromanage your investments or even check them on a daily basis. But on the flip side, investing is not a hands-off endeavor, either.
We’ve all heard the old saying “It takes money to make money.” And this is definitely true in real estate investing. Investing in real estate requires having access to a sizable amount of capital. Whether you’re building a portfolio of rentals or fixing and flipping for short-term profits, the biggest hurdle to doing deals is often funding.
I am about to reveal something both cool and nerdy about myself: I’ve known about certificates of deposit (CDs) since I was around 10 years old.
I firmly believe we are all budding entrepreneurs. We want to control our destiny, work for ourselves and feel good about making a difference in the world. Real estate investing is an excellent way to stretch one’s entrepreneurial muscles.
When you want to put cash away for a while with virtually zero risk, a certificate of deposit, or CD, is a good option. While current interest rates can be pretty low, the accounts are FDIC insured and often beat interest rates from savings accounts. A CD ladder helps you avoid locking all of your funds away for too long while capturing the interest rate benefit and safety of a CD. If that sounds useful to you, follow along with this guide to learn what a CD ladder is and how to set one up .
Finding a suitable place to live is often difficult for families with financial challenges. Many low-income families pay half their monthly income in rent and still find themselves living in sub-par, and even unsafe, conditions. Ever since the Great Depression, there have been housing assistance programs in the United States. One of the most popular is a federal program, known as “Section 8,” that’s managed by local Public Housing Authorities. And Section 8 may also provide investors who want to take part in active real estate investing with some great opportunities.
Whether you envision yourself sitting by the pool drinking Dom Perignon or jumping in piles of gold coins a la Uncle Scrooge, you can’t deny that the thought of being uber-wealthy makes for a good daydream. And some of us even think we can achieve those untold riches in no time through investing. So is there an investment that can get you rich quick?
Who of us hasn’t dreamed of moving abroad at some point? For some, the lure of exotic beaches or cosmopolitan cities has proved too great, and we’ve found ourselves living abroad as a U.S. expat. Moving away from the United States can be an amazing experience. It may lead to a lower cost of living, new career opportunities and the chance to immerse yourself in a new culture. For retirees, it’s a decision that’s growing in popularity. But when you move abroad, you also run into a new host of challenges, including how to manage your investments. Read on to learn about the best ways for U.S. expats to invest while living abroad.