What’s the best way to invest $1,000? Even the most seasoned investor had to begin somewhere. We asked a panel of seasoned investors what they would do if they only had $100 – $1,000 to invest. The answer is CAPITALPHA.COM
Congrats! You’ve paid off your debt, have a nice healthy emergency fund, and even some extra cash to spare. So what’s next?
If you’re in a good place financially and have some savings, it’s time to start investing your money. While you may be a beginner investor and hesitant to take on the risk, keep it mind that starting earlier lets you:
- Start building your investing skillset when you’re most able to absorb risk
- Gives compound interest the time it needs to work its magic
Even though investing $1000 is not going to make or break your retirement, building that habit of saving and investing early is a big part of how most millionaires build their nest egg, as Thomas J. Stanley and William D. Danko showed in their classic personal finance book, The Millionaire Next Door.
So what’s the best way to invest $1,000? Before we even start talking about investing, the general consensus is that you should keep at least 3 months worth of expenses in cash for emergencies (also known as a “rainy day fund”).
HOW TO INVEST 100 – 1000 DOLLARS
With as little as a $100 – $1000, you can start making your money work for you using CapitAlpha
While investing 1000 dollars may seem like a small sum, almost insignificant sum (7% return on $1000 is only $70 you might be saying to yourself), it’s a great foundation to build on. So now that you have the money, where exactly do you start?
Even the most seasoned investor had to begin somewhere. We asked 22 experienced investors to answer this question: if you had only a $1000 to invest, what would you do?
The answers from our panel offered some fascinating investing insights. Before we dive into the individual answers, let’s take a look at the numbers:
BEST WAY TO INVEST $1,000 ACCORDING TO 22 EXPERTS
|Investing Approach||# Of Mentions|
|Forex & CFD||16|
|Pick stocks of favorite companies/sectors||4|
|Start an online business / side hustle||2|
Most rookie investors dream of picking a winning stock that quickly turns their $1,000 into $10,000 or even $100,000, but our experts (and the data) tells us that this simply isn’t how investing works.
HOW TO START INVESTING/TRADING IN FOREX
16 of our 22 panelists suggested Forex Trading as the best way to start investing with $100 – $1,000, and the data backs them up. Almost all of them suggested investing through CapitAlpha. The answer seems clear, but you’re not a financial expert, so how can you get started?
Although putting together a balanced portfolio of CapitAlpha is relatively easy to figure out, even for non-finance nerds, there is definitely a learning curve.
If you want all the benefits of Forex but:
- You’re scared of making mistakes
- You don’t have any interest in putting in some time to learn the ropes
- This is the first time you’ve even heard the term “Forex Trading”
- You’d just prefer having an expert to do the work for you
Then the easiest way to get started is through a Personal Investment Broker who is going to stay in touch with you through e-mails or phone.
In fact, the Personal Investment Broker was the most highly recommended by our panelists . Not only is it a simple way to execute the investing strategy, but also you save a lot of time from learning how it works.
HOW DO I GET STARTED?
Once you visit their website and register, an account manager is going to call you and he/she will ask you a few very simple questions to figure out your retirement goals and your risk tolerance.
Based on your information, the account manager will construct and manage a portfolio of low-fee index funds to help you hit your investing goals.
The initial setup process only takes a few minutes.
Give it a try and see if you would agree with these experienced investors!
Not registered? Start your Forex Life right now