4 Wierd Ways to Invest $10K Efficiently
You have $10,000 in your pocket and you want to invest it wisely, what alternatives are best for you?
Understandably, you would want your money to earn the highest interest, so you're looking into various ventures.
To help you in your dilemma, here are steps you can accomplish.
How to Invest Your $10,000 Wisely
Before investing your hard-earned money, you have first to scout the available investment opportunities.
It's smart to consider the track record of the company and the testimonies of its customers.
Look into how much earnings your $10,000 can gain. Search for loopholes that may lead your investment down the drain.
Your money should be secure and safe.
Types of investments you can choose from
Invest in your own online business
Investing in your own online business is an outstanding venture, but you must have a product or service that has a sure market.
You can create your own website and sell hot products
Buy and sell products that customers love. You can sell these products from your own website. However, you need to research extensively to decide what service or product you should offer.
You may also create your own product and market it. But it must be a product that can sell easily. Non-perishable goods are better to market because they don't get destroyed even when stored for long periods of time.
From your own website, you can also market your own products to add more revenue for your site. On your website, you must utilize all money-making ventures such as affiliate marketing, ads spaces and links to earn more.
Your online store must be SEO optimized to attract more potential buyers.
Also, marketing in a particular niche can prove financially rewarding, if you happen to market a saleable niche product.
By selling very specific items such as, silver-plated belt buckles or double-bladed hunting knives, you can earn big bucks.
Again extensive research is needed to decide whether a product can be saleable or not. Use Google to determine what products or services are these.
Low Risk Investments
This includes investments that you can just invest in and "watch." If you can't manage it "hands-on", then these are the best investment ventures you can avail of.
They won't earn that much income, but they are the best alternatives if you don't want your money lying idly at home.
1. Timed deposits
Your money earns a fixed amount within a period of time. These earnings are not high, but are a little higher than the regular bank interests.
There is a disadvantage for Time Deposits though - you can't earn the assigned interest if you withdraw your money before the agreed time period.
You can also invest in bonds. Ensure, though, that these are secure bonds. There must be proper documentation of all of your transactions with the company.
High Risk Investments
These high risk investments involve investments that has a higher percentage of earnings, but also a higher risk of your $10,000 being lost.
You'll have to look at the pros and cons and decide correctly.
1. Binary Options
There are greater earnings from binary options but there are also bigger risks. You might lose your money in the process, so learn the ins and outs of Binary Option before investing.
There are numerous Binary companies online that you can choose from. Remember to search for good testimonials before investing. There should be at least 80% and above positive testimonials of satisfied customers.
It's the same with Forex. You have to be well-acquainted with how the system works before you attempt to invest.
This is risky business for newbies because the rewards are huge but you can lose all your money in one sitting.
Investing in stocks is one big earner too, but only if you invest in the right stocks. It's important to note that the prices of stocks can increase and decrease instantaneously. You can earn millions in a minute and lose the same in a blink of an eye. You have to be monitoring the market 24/7.
Be familiar with the principle behind your investment before investing. Never invest your hard-earned money without knowing everything there is to know about stocks.
Medium Risk Investments
1. Real Estate
Real Estate is a sure investment because the prices of land tend to increase as time goes by.
A piece of land bought for $10,000 can double after several years, depending on the location of your lot.
Select a real estate property that is near or inside commercial areas and this will surely earn you huge profits later on.
Ascertain that the property is not above a fault, a possible sinkhole, or an area where crimes proliferate. The safety and security of people around the area should be ensured.
Consider also the distance of the property to major facilities such as, supermarkets, hospitals, schools and government institutions.
This is an investment that is almost 100% sure, if you choose your real estate properly.
2. Blue Chip Stocks
These are stocks that are reliable and that have consistently rewarded stockholders with considerable interests in their invested money.
Be sure to have inside information about these stocks. Ascertain that your information is correct, before investing.
Investing in these types of stocks can be more expensive than the other types of stocks since your profit is ensured.
Other Investment ventures for your $10,000
1. Flipping Houses
You may want to invest your money in flipping houses for profit. You buy an old house, renovate it, and then sell it at a higher price.
Many enterprising entrepreneurs earned a lot from flipping houses. You have to learn the ropes first before you attempt your first project. This is because you can lose money with the wrong calculations.
You may have spent more money remodeling than the money you have gained from reselling it.
Hence, you have to know more about flipping houses: where to obtain inexpensive but competent engineers and interior decorators; where to get money when you run out of funds, and similar information.
If you're willing to work hard, your $10,000 will be able to earn a considerable amount from house flipping.
2. Investing on Your Education
Advancing your education making use of your $10,000 is also a significant way of investing your money.
You can bring your education anywhere with you and utilize it to earn money. It's an investment that nobody can take away from you for as long as you live.
Furthermore, it's in investing in yourself and investing in your education that you can gain the wealth of the world!
3. Pay off Debts
Paying off debts is one good way to invest your money because you don't have to pay more interests for your debts.
What's the use of investing in other projects if the interests of your debts gobble up your earnings from your investment?
Pay debts that have high interests such as house loans first, so that your money won't go to waste.
Nevertheless, if you're certain that your gain from your investment will be higher than the interest of your debt, then go ahead and invest first.
You'll have to weigh the pros and cons before deciding.
4. Buy and Sell Collectors' Items
Have you heard of people earning millions just from one sale of a unique and antique item?
Yes, you can do that too, if you are able to choose these items correctly. Buy and sell antiques and sell them for profit.
Invest your money by searching for these unique items, and buying them. You can sell them later on when they become "extinct". Wealthy people buy these unique items for their collections.
Useful Tips in Investing Your $10,000
- Do thorough research first, before investing. Investigate carefully and don't rely on a few glowing comments about the company. Read testimonials from several sources before deciding.
- Don't put all your eggs in one basket. Invest in various types of investments, so that when one investment fails, you still have other alternatives.
- Learn the ropes about the business before investing. Don't invest in a business you don't know anything about. Know about its intricacies first and familiarize yourself with its system. This way you'll know the danger zones.
- Investing on businesses available online is a good option. This is because you can monitor it quickly and also do business conveniently, even when you're at home. This can allow you to personally monitor developments and trends.
- Monitor your earnings and document them. Closely monitor and document your earnings from your investments. This way you can devise other methods to invest your money. If after a year, you're still unable to earn a tangible income, withdraw your investment and find other options.
- You must personally oversee your investment. Letting someone monitor your money is different from you personally monitoring it. With you, it's certain that your gains will prosper because you'll be constantly finding ways to make it so.
- Don't gamble. Some people think that gambling will double their money, but nobody ever won from gambling. You may have a beginner's luck at the onset, but eventually, you'll end up penniless and miserable. So, avoid gambling.
- Withdraw some of your money when your interests roll in. It's wise to withdraw some amount as your investment prospers. This way, when something happens, you would have saved some amount. Do it slowly, so that your earnings will still come in steady streams.
These are all the investment techniques that you can use for your $10,000. Choose two or three wisely and invest your $10,000.
If you have invested correctly, then good for you. After all, you're entitled to earn successfully, in a decent and proper way.
Do you know any other ways to invest $10K? Let us know in the comments.