As entrepreneurs and business owners, we’re always paying attention to the many different and exciting ways to make our money work for us at all times.
With savings accounts and bank interest near all time lows, the thought of putting your money in an interest savings account or even a CD, isn’t just ‘old school’… it’s as a method that won’t really make you that much money at all.
According to the FDIC, the national average interest rate on savings accounts currently stands at around a horrible low 0.04% APY. With this applying to both average and jumbo deposits, it just makes the concept of putting money away in a bank account even worse.
If you had $100,000 sitting in the bank, it would only be earning you around $400 per year off interest! And while I’d never consider myself a financial expert or want to tell you where to put your money, there are simply much better options out there for growth and higher earnings.
With all of this in mind, there are now more ways to put your money to good use, while also growing your investments and retirement money as well.
Here are some of the top investment trends and methods that are getting a lot of attention in 2021.
Personal Investing in the Stock Market
Year after year, the stock market is making people rich. Whether it’s through personal investments, retirement accounts or even playing your chances in the world of OTC stocks, money is there to be made.
And with the stock market continually increasing in value year after year, this is always a good strategy for long-term investing as well. As referenced in the chart below, the S&P 500 has been providing double-digit percentage gains in 3 out of the past 4 years!
And the great thing about investing in the market, is that it can be done through a retirement account, ETFs for bulk stock investing, or even on your own through the use of mobile and web based stock broker services.
In addition to earning money through good investments, you can also make some easy money right at the time of signing up for a new broker account. There are also plenty of sites out there like trade-ideas.com, that feature different discounts, coupon codes and promotions for many of the top investment applications and services online.
With many so many different brokers offering cash bonuses after deposit, this is a simple way to immediately get a return on your investment over what a traditional interest savings account could offer. And if you have a lot of money to invest, try joining different platforms to take advantage of any new sign up bonuses they might have to offer.
Mobile Investing in Cryptocurrencies
Dogecoin, Bitcoin, Etherium… you name it, crypto is everywhere and it’s quickly getting more people in on personal finance and investing than ever before.
With so many different crypto applications and services out there, it’s extremely easy to open an account and get started with your first crypto purchases in no time.
And it’s not even a matter of knowing which application or service to use, it’s also about which crypto you want to invest in. Just take a look at the recent numbers of how quickly and fast some of the most popular cryptocurrencies are rising over the past several days and months — as provided by Cryptorank.
However, for as many success stories as you hear from the world of crypto and investing, there are a ton more of failure that you rarely ever hear about.
No matter what your thoughts and expertise is when it comes to crypto, it’s a super fast-paced world of financial trading that’s always worth getting better informed on.
Art Investments and NTFs
If you think the world of crypto is fast-paced and loaded with cash, wait until you see what’s going on in the new world of art and digital ownership!
NFT stands for non-fungible token, and they are all the buzz lately, and some items are selling in the $40-$60+ million range… and that’s just for a digital file!
With so much attention on NTFs, it can quickly be overwhelming within just a few minutes time of research and figuring out how to get started. And if you’ve been an avid collector of comics or sports cards, you may enjoy investing in the world of NTFs even more than you might think!
To help with this process, we recommend you read through this article from The Verge, and through the short explainer video below.
Starting a New Business of Your Own
Want to make a great investment with your own money and in yourself? If so, there is no better way to put your money to good use, than investing in your own business.
With the internet now making it easier than ever before to get started with a business, website or blog of your own, you can spend a minimal amount of money to get up and running — while also potentially changing your personal and financial life for the better!
With so many different ways to start and run a business on the internet, this is one of the most obvious and best ways to put your money to good use.
How to Get the Most Out of Your Money and Investments
As with all things, the best ways to make money often come with a lot of time, work and patience. And if everyone knew what was going to make them the most money, it’s would exactly be investing… would it?
So with all of that in mind, when it comes to investing your hard earned money and attempting to build a better future for yourself and your family, it’s important to put a lot of time and effort into whatever decision you make.
Remember, nothing comes easy… and the majority of rags to riches stories you see and hear about, are often just a feel good story to get more attention and readers — and not normal scenarios.
Invest wise, and always invest in yourself!