If you want to become wealthy, you have to learn how to invest your money. Becoming an investor allows you to use the money you have already earned to buy things that can offer a profitable return. Why is it important to get investment help near me? A local advisor can sit with you face to face to better understand your goals and the local economy.

Examples include interest and dividends, appreciation of value from real estate, stocks, or other assets, and cash flow from businesses or real estate.

Investment Help Near Me

Investment Help Near Me | The Risk

Investing can be risky. There is no way to eliminate 100 percent of the risk involved, but learning how to invest wisely can significantly reduce the risks.

By investing young, you can help reduce the risks. When you start investing at a young age, you can choose to invest in more long-term investments, which are less risky.

Whether you are young, or not, it is never a bad time to start investing and get investment help.

What to Invest In

There are many types of investment opportunities. We suggest keeping things simple.

Mutual Funds

This is a type of investment that pools your money with other investors to buy securities for the entire group. It is professionally managed, as well as safer and often less expensive than other options. This is a great starting place for a new investor to get investment help.

Retirement

IRAs offer incentives like tax advantages, but there are limits on when you can withdraw the money and how much you can contribute annually. For someone interested in long term investments, this is the best place to start. Below is an overview of the three types of IRAs.

[Related: Best Places to Retire]

Traditional IRA

Your earnings can potentially grow tax-deferred until retirement and your contributions may offer a tax deduction.

Roth IRA

With this type of account, your money can potentially accrue tax-free and your contributions are after tax. The biggest benefit is that retirement withdrawals are tax free as long as you meet the required conditions. This account is what is recommended for most post.

[Related: Retirement Planning]

Rollover IRA

These accounts are created by rolling one account into a new one. For example, if you leave a job where you had a 401(k) you can roll that into a Rollover IRA.

Advanced Investment Help

When you are ready to move onto more advanced types of investments, consider the following.

Individual Stocks

The stock market is one of the best places to grow your money. If you are interested in buying individual stocks, learn about value investing. We also recommend that you do not put more than 10% of your portfolio into individual stocks until you become familiar and comfortable with the process.

Real Estate

Real estate investing is long-term. Investors choose this for the cash flow involved. Cash flow is the money made from rental properties each month. Another benefit is that with inflation, rents will rise. However, your mortgage payment will remain the same.

For more information on real estate, read 3 tips for buying or selling a home.

Crowdfunding

With crowdfunding, you can invest in peer-to-peer ventures and real estate. Most online investment sites like Equity Multiple  allow you to invest as little as one thousand dollars.

Also, some sites like Lending Club allow people to take out personal loans from other everyday investors.

If you are new to investing and have money to put away, I suggest that you start with a Roth IRA. If you have another investment goal, or already have a retirement fund, you can use a regular brokerage account.

Whether you are new to investing, or looking to advance your knowledge, contact Blisk Financial Group today located in McLean, VA and Charleston, SC. Let us help you on your investment journey.