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.

Free Book Preview Money-Smart Solopreneur

This book gives you the essential guide for easy-to-follow tips and strategies to create more financial success.
Certified Financial Planner, Author and Blogger
2 min read
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

Entrepreneur Network is a premium video network providing entertainment, education and inspiration from successful entrepreneurs and thought leaders. We provide expertise and opportunities to accelerate brand growth and effectively monetize video and audio content distributed across all digital platforms for the business genre.

EN is partnered with hundreds of top YouTube channels in the business vertical. Watch video from our network partners on demand on RokuApple TV and the Entrepreneur App available on iOS and Android devices.

Click here to become a part of this growing video network.

TKTK 

More from Entrepreneur

Our Franchise Advisors are here to help you throughout the entire process of building your franchise organization!
  1. Schedule a FREE one-on-one session with a Franchise Advisor
  2. Choose one of our programs that matches your needs, budget, and timeline
  3. Launch your new franchise organization
Discover the franchise that’s right for you by answering some questions about
  • Which industry you’re interested in
  • Why you want to buy a franchise
  • What your financial needs are
  • Where you’re located
  • And more
Discover a better way to hire freelancers. From business to marketing, sales, finance, design, technology, and more, we have the freelancers you need to tackle your most important work and projects, on-demand.

Latest on Entrepreneur