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Got $500? Here Are the Smartest Ways to Invest It. From starting your own online business to using robo-advisors, here are a flurry of ideas to put your money to good use.

By Jeff Rose

Opinions expressed by Entrepreneur contributors are their own.

In this video, Entrepreneur Network partner Jeff Rose digs into his best top picks for investing $500.

The prospects to invest your money are myriad. But, if you are able to find a place that fits your needs, you can start investing immediately. To narrow down where to invest your money, Rose has a few recommendations. If you have never traded stock before, mutual funds and ETFs will make the most sense for you. These funds help you find diversified investment options and do not force you to pick individual stocks.

Some of these options include online brokers, such as Ally Invest and E-Trade, which both give you a wide array of stock options. Other tools include robo-advisors Betterment and Wealthfront, which differentiate themselves by choosing your investments for you.

Aside from these, Rose also recommends looking into other options, including pursuing an online business and real estate. As evidence of hard work in these areas, Rose started his own blog (which eventually earned him income) by sharing information he was trained in, financial planning.

To hear more investing tips from Rose, click on the video above.

Related: 11 Tips to Get to Your Happiest Self

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TKTK

Jeff Rose

Certified Financial Planner, Author and Blogger

Jeff Rose is an entrepreneur disguised as a certified financial planner, author and blogger.  He's best know for his blog GoodFinancialCents.com and book, Soldier of Finance: Take Charge of Your Money and Invest in Your Future.  He's also the editor of LifeInsurancebyJeff.com. He escaped a path of financial destruction from dropping out of college with over $20,000 of credit card debt to become a self-made millionaire. His mission is help future generations achieve financial freedom by developing strong money habits and unleashing their entrepreneurial spirit.   

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

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