You don’t need to be mega-rich or a trust fund baby with your own private jet to start investing and growing your wealth. In fact, the best way to accumulate money is by chipping away at it consistently over time.
While some investments may take a long time before you see returns, investing your money is almost always the surest way to grow your wealth over time. For many people, starting out small with business investing can be an excellent way to get your feet wet when it comes to growing your personal net worth.
Here are some ideas on how you can start in business investing today.
Start a Savings Account with an Easy-to-use App
One of the most straightforward ways to start investing is by putting money into a savings account. With a savings account, you’ll usually earn a fairly modest rate of interest, and you’ll be able to easily access your money with no penalties or fees. Some of the best savings accounts are offered by online banks, where you can open an account with very little effort.
The best savings accounts will have low or no minimum deposit requirements with easy ways to deposit money like transferring funds from a linked checking account. You can also start business investing by having loans.
Read more Business Investing Books
The best way to learn is by doing, but there’s nothing wrong with skimming the surface first. One of the best ways to start in business investing is by reading a few books on the subject.
While there are countless books on business and investing, you may want to start with a few that have proven helpful to others who have started in business investing.
For example, Gary Allan’s Millionaire Next Door is a classic that has helped countless people start in business investing. Likewise, Meb Faber’s Investing Demystified is a good starting point for reading about business investing.
Commit to Learning more about Investing and Wealth Building
While it’s important to get started now, it’s also important to commit to continuous learning. The world of business and investing is rapidly changing, and it’s important to make sure you stay informed. One great way to stay up-to-date on investing is by subscribing to one or more investing newsletters.