Investing your money in alternative revenue streams has become more popular, particularly given the low-interest rates banks are offering on savings accounts now. You could make considerably more money from making judicious investments, but the world of investing can be a daunting one to take on without expert knowledge of how the systems work. There are so many possible ways to invest your money, and if you just want to make a profit on your investment rather than get involved in choosing stocks and shares or other options, it can feel somewhat confusing and off-putting. However, there are now user-friendly ways to get involved in investing that will suit even the most clueless of investors!
Employing a professional to help you with your investments is a great way to start if you’re new to the world of investing. A good financial adviser will be able to find the most appropriate opportunities for you, based on your budget and your attitude to risk. They can also help you with money management and give you advice on all your financial activities including savings, loans, mortgages and budgeting. Make sure your adviser is regulated for the work they are doing, and if you can get a recommendation from someone you trust so much the better. Bear in mind that being hands-off doesn’t mean throwing caution to the wind and never checking your investment portfolio. It’s always best to keep an eye on how your money is working for you so you can be sure you are getting the best advice.
There has been rapid development in recent years in the industry of automated investments. Several companies offer packages for investors which use smart software to select opportunities and invest on your behalf. These robo-advisers are programmed to work off a set of algorithms that will determine the most appropriate investments for you based on your budget and risk aversion, in much the same way as a human adviser would. The advantages are that it is considerably cheaper, and so far, the results have been very positive. The software is under continual development, so the robo-advisers should only get better and more sophisticated in their abilities. If this is a new concept for you, take a look at some of the companies offering these services and read the guides available, such as the Betterment definition of robo-adviser services, to find out more information and see if this is something that would suit you.
Consortiums and crowd-funding
Raising money for projects and new businesses via crowdfunding platforms has been a growth area in investment in recent years. There are plenty of opportunities to invest in exciting new projects that you’ll have a personal stake in as well as a financial interest, but it will require more input from you than using an adviser. Consortiums are another model for investors that take the strain of finding and checking out potential investments away from the individual, by carrying out all the essential analysis for you. They can also secure large-scale investments that would be out of reach for individual investors.
If you want a decent return on your capital without getting too heavily involved in the investment industry, one of these options would be a great place to start.