Passive Ways To Invest Your First $1000
You have managed to save your first $1000 by means of savings, reducing debt and pay yourself first. Now how and where do you invest this money so it makes you more money? The most important thing to do is to invest in yourself first. Learn a new skill or take a course to better yourself which will help you earn more money in the long run. However, this topic is more about how to earn some hard cash. There are numerous ways to invest the $1000 but here are a few ways which will earn you money while you sleep.
• INVEST IN INDIVIDUAL STOCKS – Investing in individual stocks is one of the easiest ways to earn money while you sleep. You can start investing with as little as $500. Now there are a lot of companies out there and most times we don’t know which one to choose and because you are just starting off check the history of the company for the last 10 years to see if they have been growing consistently. Like the 4 major Banks. The returns on this will not be as big as some individual stocks will earn you but at least you won’t end up losing money.
• INVEST IN INDEX FUNDS – This is a much safer option than investing in Individual Stocks. Investing in index funds with low fees like Vanguard will make your $1000 go a lot further. Even Warren Buffet suggests that Index Funds is the way to invest if you are looking to grow your money in the long term.
• REAL ESTATE – REIT (Real Estate Investment Trust) – Everyone knows Real Estate is one of the most profitable and passive investments however not all of us can afford to buy an investment property and especially not with $1000 however you can buy shares in different types of property assets like retail, industrial, residential and office buildings. Whilst you won’t be able to claim the tax benefits you are making money without even having to do much. Goodman Group (GMG) is one of the largest industrial property group in Australia with an occupancy rate of almost 98%.
• MICRO INVESTING – The great thing about micro-investing is that you don’t even need $1000. You can start investing with as little as $1. This is something you set up and forget about. All you have to do is link your everyday accounts to the micro-investing app and the app will round-up your everyday purchases to the nearest dollar and invest your change. For example, if you buy a $1.50 coke from your card the $0.50 will be invested. You won’t even miss that 50 cents and meanwhile it is being invested and every single cent is earning you more money. I am micro-investing with Raiz. If you join using this link, we will both get $5. Click Here.
• START A BUSINESS – Starting your own business should have been the number one on the list but I know some people find it daunting. Direst Sales, eBay and Dropshipping are all passive income businesses which can be started with as little as $1000. I cannot stress enough how important it is to start your own business as it is one of the major ways to fast track your F.I.R.E journey and gives you the freedom and flexibility to do the things you love.
A $1000 won’t make you rich, the idea here is to get started and then gradually add to the amount. Once you earn your first few dollars without even lifting a finger you will want to add more and more to the initial $1000.
