Investing your money is one of the best ways to start accumulating wealth. Most people have very little left over at the end of the week and never start to put some money away to earn passive income. Spending money on new shoes the newest Iphone or upgrading their car is how extra money is usually spent and this leads to some people never getting ahead. Saving is how people think they are making the most of their hard earned money
but this is often not the best option long term because of low interest rates and rising inflation.There are many ways to invest you have stocks, bonds, property, REITS, index funds and crypto.
The best way to start investing is with index funds such as the S&P 500 as it exposes you a vast amount of companies lowering risks and giving great returns. The S&P 500 returns about 7% each year on average and in 2020 returned about 15%, you will also receive a yearly dividend of about 3.5% so you will already be making passive income. Buying in weekly or monthly is a great way to start investing and when your interest starts to compound over years you can see some very impressive gains. To learn more about index investing i would highly recommend reading the The Little Book Of Common Sense Investing by Vanguards Creator John Bogle it real shows how powerful a tool index fund investing is. Get your copy here https://amzn.to/2PzpCrb
So finally where do you go to invest your money. There are multiple options for where you can start investing one of the easiest is to open a brokerage account with a company like Trading 121, E toro, or Davy. Set up is very easy and can be done in minutes. When your set up it can be quite confusing but take your time and you’ll be fine. In Ireland to invest in the S&P 500 you will need look for ticker symbol VUSA. To learn more about investing stay tuned to money-penguin where we will also be looking at all other aspects of money and finance. Please note this is not intended to be Investment advise this just guid for getting started always do your own research.