The world of investing can be a complex and tricky one, especially if you’re just starting out and find yourself at the beginner level. If you’re wondering if it’s time to start investing, then, likely, the answer is yes‚Äîespecially if you’ve recently come into a large sum of money like an inheritance or have some real estate properties.
If you’re uncertain about doing it on your own, professional financial advisors will be available to guide you through the process and advise you on the best route to take with your money. Make sure to only work with an accredited investor and make sure that they’ll take you seriously‚Äîshow up in a business suit and heeled boots if you think it’s necessary. Learn more about investing and some common signs that you’re ready to put your money to work for you here.
Your inheritance has just arrived.
If you recently lost a loved one, and they left you money, property, or something else of worth, then the smart route would be to take that and invest in the stock market or real estate. That way, the money is in an account earning interest and money from the stocks that you and your financial advisor choose.
Sometimes, an inheritance can get stuck in the probate process, which is when the courts have to take time to go through your loved one’s estate and sort through everything. If you’re eager to begin investing, then you may be able to take out an inheritance loan, also known as borrowing against an inheritance. In this case, you’re getting a line of credit. That credit isn’t based on your credit score, but rather the collateral you’re inheriting once probate clears. You may have monthly payments at first, but you’ll be able to pay it off in a lump sum once you receive everything. This estate loan could give you a jump start on your finances.
No matter what option you take, whether it’s waiting for probate to end or investing right away with a probate loan, you should make sure to invest wisely and choose your investment platforms with caution. Inheritance funds can go quickly if they aren’t managed properly, and you don’t want that to happen.
You’re building up your 401K.
If you have a 401K account with company matching, then you definitely should be investing. Remember, this is a long-term process to prepare for your retirement, and you don’t need to risk any get-rich-quick schemes here. Do your due diligence as you decide what to do with your 401K funds. Invest some in the stock market, but consider putting some into alternative investment opportunities as well. There are many different types of alternative investments out there, which can include things such as:
- Marine vessels
- Property refinancing
- Commercial finance
- Small business financing
Doing this is easy with companies such as Yieldstreet. They take your money and put it into these types of ventures for you. Note that you will need some startup cash to make it happen, as they typically have a $10,000 minimum investment for most things. Some do have a minimum requirement of $1,000 depending on the investment opportunity. While there are some Yieldstreet complaints from inexperienced investors, this method can get you higher returns than the stock market. It can sometimes anywhere from 8 percent to 13 percent, which is much higher than the average 7 percent yielded by the S&P. You’ll need to meet certain requirements to invest with this company, so make sure to pay careful attention to those requirements and talk with your financial advisor to see if they think it’s the best bet.