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The following is a guest post on behalf of Bullion Vault. Enjoy!
Saving money and being economical is important, as we all know. However, after working hard to rack up some savings, the next step is finding ways to make that hard-earned money work for you!
Do Your Homework
It is important to do your research. There are so many options out there, in terms of banks and savings accounts. Compare, make telephone calls, ask questions! Choose something that will bring you the most interest.
Consider Investing in the Stock Market
If you have a head for the global economy, you could get into the stock market. This requires more effort and involves more risk than a savings account, but it can also be more rewarding. Putting your money in the right place at the right time can really earn you much more than you were expecting!
By diligently keeping yourself informed about current events, and with practice, you will find that it is perhaps easier than it looks. There are books and websites galore that can teach you more about investing intelligently.
Consider Gold as An Investment Option
If stocks and shares are too uncertain for you, and you would prefer something a little more solid in your portfolio, why not consider gold? These days, it is looking like one of the safer choices, since it is highly likely that it will only earn you money in the long run. It is easy to purchase, via your bank or online resources. Buying gold is simple and quite profitable, without the riskiness of stocks and shares.
Consider all your investment options and choose something that fits your lifestyle, and helps you towards your personal finance goals. Finding the right way to make your money grow while you focus on other things will move you closer to financial freedom. Start looking into it today!
How about you all? What are your thoughts about investing in gold as part of your portfolio?
Share your experiences by commenting below!
Jacob’s Thoughts – Listed below are my random thoughts as I was reading this article.
- @ Investing in the stock market –
- While a lot of people swear that investing in individual stocks is the way to go and that there are tremendous opportunities, I am still not convinced.
- However, I always keep my ear open for new stock trading methods that seem to take some of the emotional pitfalls out of individual stock investing.
- The most promising stock trading method I have studied to date is Phil’s Town’s Rule Number 1 system. Because I liked the system’s methodology, I performed a 6 month analysis of his system, and ultimately found that it didn’t offer any benefit when compared to merely investing in index mutual funds.
- So, long story short – I don’t promote investing in individual stocks. Instead, I think that individual investors are much better off investing in low cost index mutual funds. This strategy is called passive investing.
- @ Investing in Gold –
- This is actually a pretty difficult question/issue. And, ultimately, I have not yet decided whether or not gold needs to have a place in your portfolio.
- Because of this, I’ve put this topic on my list of posts to research and write about. Just off the top of my head, if I were to invest in gold, I would most likely try to do it through a low cost mutual fund or ETF.
- How about any one else out there, do you think gold should be in your portfolio? If so, how do you recommend gaining exposure to this asset?
***Photo courtesy of http://search.creativecommons.org/?q=idea