If you want to make 2018 your best investment year yet, first of all, you should know that it is perfectly possible to do so. Secondly, you should be aware that it isn’t inevitable and you will need to put some effort into the process. The good news is we can help you with the second part – just check out our top investing tips for success in 2018:
Set Goals and Objectives
Before you do anything else, it’s useful to set some goals and objectives for the year. The goals you had for 2017, whether you achieved them or not, might not be the same for 2018 and they might not even be achievable anymore, so work out exactly what you’re investing for – college, retirement – a new home – and work out how much you would like to make towards these goals this year.
Find a Lower Cost-Risk Trading Platform
Trading platforms like the tastyworks trading platform have a lower cost-risk, and this can benefit you by improving your risk-to-reward ratio in your favor. No investments come without risk, but by using such platforms, you can nudge the odds a little in your favor and increase your odds of making more gains than you do loses across the board.
The Stock Market is Still THE Place to Invest
This might seem like the most obvious piece of advice ever – to invest in the stock market – but there are countless things you can invest in now from real estate to cryptocurrencies, so it is a piece of advice still worth giving. Why should you invest in the stock market? Because if you play things right, investing when shares are low and selling when they are high, you can level out the average price you pay for shares, so that you pay less, and also because there are far more options when you play the stock market.
Peer-to-Peer Lending is a Great Place to Invest
That being said, when it comes to your finances, you should never put all of your eggs in one basket, and a great second place to invest your hard earned cash is in the peer-to-peer lending market. A lot of people think that this is very risky, but actually, lending money to individuals is a great way to do some good and earn on average a 6 percent yield. Considering the fact that you can loan small amounts, it’s a great place to get started.
Real Estate Has Real Potential
If you don’t want to play the stock market or you’re looking for more areas in which you can invest, then don’t dismiss real estate. It is definitely one of the safest places to invest your cash in 2018 simply because people will always need houses. The best way to make a big profit with real estate is by buying low, renovating and selling high, but becoming a landlord can bring in smaller, safer profits in the short term.
I hope this helps you to work out where to put your money and how to maximize your profits as an investor in 2018!