Unsure How to Invest Your Extra Money? Try These Dependable Options. Jeff Rose lays out some of his stand-by options for building return.

By Jeff Rose

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

In this video, Entrepreneur Network partner Jeff Rose answers some questions about where the best areas to invest are. When discussing a question on how to invest money previously dedicated to paying off student and car loans, Rose brings up some of his favorite tips. One is staying wary of investments promising short-term growth. It can be tempting to throw cash into a single, promising stock, but it can backfire and lead to double or triple the losses.

Rose also recommends the crucial move of holding an amount of liquid savings -- since you never know when an emergency may strike. The amount of saved cash can fluctuate depending on the status of your employment and the consistency of your paychecks.

Furthermore, Rose encourages paying attention to reinvesting profits into peer-to-peer lending tools. Peer-to-peer lending often entails reinvesting your money into new financial notes, making it difficult to access these funds when you really them.

Click the video to learn more about what investing strategy is right for your extra cash.

Related: What to Do When You Lend Family Money But They Can't Pay You Back

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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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