If you’re new to investing, then you’re in luck as there are more options for beginners than ever before. Plenty of platforms and services have made online investing more flexible and accessible. It’s not reserved for the wealthy anymore or experienced investors. Here are three examples of top investment options for beginners.
Savings or retirement plans
If you want to protect your future finances, then savings or retirement plans are a relatively safe choice. By investing in plans such as a 401 (k) you can combat inflation and increase your chances of being able to afford the lifestyle you want in the future.
Index funds
Index funds are considered principal portfolio holdings for retirement accounts. They are a type of mutual fund or exchange-traded fund. Index funds offer broad market exposure, are low-cost to operate, and have a lower expense ratio as they take a more passive approach to investing. This makes them ideal for saving money to use later in life.
Robo-advisors
Robo-advisors are often designed with beginner investors in mind as they typically offer a low minimum investment. These types of online investment platforms and apps are also more convenient than making an appointment with a financial advisor in person. They also do the work for you, based on algorithms and advanced technology. If you’re a beginner, you could consider offering investment services.
If you’re considering a new investment plan but aren’t sure where to start, here’s a guide on how to invest in stocks for beginners.
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