Unsure How to Invest Your Extra Money? Try These Dependable Options.
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.
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