Investing money for the first time requires research and in-depth questioning. Learn the top four best ways to get your investment money off the ground and rolling.
Mutual funds are great for new investors. A pooled source of various investor money, the fund manager invests according to the group's specified level of risk tolerance. Investors can invest minimum amounts due to the large pool.
Complete an Internet search of available funds under $250. Search by industry to determine a likely fund for your interests. The Internet allows investors to bypass brokers who charge a commission and join mutual funds as independent investors.
Learn if your employer allows employees to invest in the company. If such a program exists as part of a company-wide program, start with a small amount that can be used to grow a small return. After a period of investment, consider increasing the amount or diversifying your new portfolio with new start-up companies or industry strongholds like Microsoft and McDonald's.
Most employees are allowed to invest money into a 401(k) account after a 90-day probationary period. Once you meet the eligibility requirements, learn if your employer will match the dollar amount of each investment. Even if your employer does not have such a program, continue to invest as this money is tax-deductible.
Tips & Warnings
- Always consult a professional.