Are you an investor or an entrepreneur who wants to invest $5,000 at once? If yes, then chances are you have probably started with as little as $50 or $100 a month. By following a good strategy, you have presumably managed to turn those $50 into $5,000. Now, you are wondering which are the best ways to invest $5,000 in 2019. Or in other words, how can you grow your money without the risk of losing it. Well, in this article, we will share with you three ideas, which have proven to bring significant profits. So, let’s get started.
High Yield Savings Accounts
Typically, high-yield savings accounts are similar to traditional savings accounts. However, with a high-yield savings account, you can earn a higher interest rate for deposits. In other words, this is a better investment strategy because the return on your money is better. So, if you want to invest $5,000 and grow your money, a savings account might be one of the best options. Also, with this type of bank account, there is no risk of losing your money.
Going with a savings account is like betting on the right horse. Especially, if you are looking for an investment where you can easily access your money as well as not have to worry about losing them. However, not all savings accounts are created equal. For example, for some, the average interest rate is 0.06%. On the other hand, other accounts are only online, such as the ones with CIT Bank. Many people prefer this type of high-yield savings accounts as they tend to offer much better interest.
Do you want to know which are the Best High-Yield Savings Accounts for November 2019? Then make sure you read the detailed article by clicking the link above.
The majority of experienced investors like this investment option. However, as new investors and traders might now know what Lending Club is, we will begin with a simple explanation. Generally, this club offers peer-to-peer lending for personal loans. Moreover, typically, Lending Club Loans are pursued by borrowers with a low debt-to-income ratio. Further, they have good-to-excellent credit, for example, an average of 700. Also, you are investing in micro-loans. In other words, if you invest $5,000, not one borrower is going to get the entire amount. So, this option might be useful for you, especially if you want to consolidate your debt.
Furthermore, Lending Club offers joint loan applications as well as a hardship plan. With this type of investment, you don’t have to invest a lot of money. Meanwhile, you are still able to diversify your investment. Also, with Lending Club, there are different types of accounts, and they have different requirements. For example, opening a retirement account – IRA, Roth IRA, etc., requires a minimum deposit of $5,500. Currently, this type of account has no monthly fees. However, some account types might have. You can learn more about Lending Club by reading the educational article Lending Club 2019 Review.
Investing in Real Estate
An old investment strategy that has proven to work. Many people buy cheap properties, fix them, and then resell them for a higher price. The profits can be astonishing. However, this investment type is not for everyone. The typical traditional investing in real estate has many hidden dangers.
Moreover, being a landlord is the most profitable, but it may be difficult. First, you have to buy a property and then rent it. However, you need to find a renter first. Currently, there are many more comfortable options for real estate investing. For example, you can invest in real estate without actually owning it. If you want to learn more about this investment type, you should check this article.
Of course, there are many other places where you can invest $5,000. For example, investing in High-Yield Stocks, Mutual Funds, or ETFs or even College Savings Accounts are also excellent choices. However, you might want to do in-depth research before you consider any of the options mentioned above.