Wednesday, June 23, 2021
HomeevergreenHere are safer alternatives if you are too obsessed with the stock...

Here are safer alternatives if you are too obsessed with the stock market

We are big on investing. It is an important way to grow your money and prepare for retirement one day.

But is it dangerous to be too obsessed with the stock market?

Of course yes. Our financial advice columnist, Dear Penny, recently heard from a reader whose husband stopped financing his 401 (k) in order to gamble on the stock market.

Is it okay that you stopped contributing to your 401 (k) in order to trade stocks? asked the reader. How do I ask you what you are really investing in? I am concerned that he is gambling the money we need for our retirement.

That is not the way to go. Here are five safest ways to invest and grow your money.

1. Invest constantly like a normal person

Rather than gambling all your money on the stock market, constantly invest in it. Look long term. The stock market is unpredictable, which means that sometimes stock prices go up and sometimes they go down, but over time they tend to go up.

If you haven’t started investing and have some money to spare, you can start small. Investing does not require you to spend thousands of dollars on entire stocks. In fact, you can get started with as little as $ 1. *

We like Stash because it allows you to choose from hundreds of stocks and funds to create your own investment portfolio. But you simplify it by dividing them into categories based on your personal goals. Do you want to invest conservatively right now? Get it totally! Do you want to dive with moderate or aggressive risk? Do what you feel.

Plus, with Stash, you can invest in fractions of shares, which means you can invest in funds that you normally couldn’t pay.

If you sign up now (takes two minutes), Stash will give you $ 5 after you add $ 5 to your investment account. Subscription plans start at $ 1 a month. **

2. Grow your money 16 times faster, without risking it

Keep some of your money in a place that is safer than the stock market, but where you can still make money from it.

Under your mattress or in a safe you will get nothing. And a typical savings account won’t do you much better. (Ahem, 0.06% is nothing these days).

But a debit card called Aspiration allows you to earn up to 5% cash back and up to 16 times the average interest on the money in your account.

It’s not bad at all!

Enter your email address here for a free Aspiration Spend and Save account. After confirming your email, securely link your bank account so they can start helping you earn extra money. Their money is FDIC insured and they use military grade encryption which is nerdy language because “this is totally safe.”

3. Stop paying your credit card company

One way to ensure you have more money is to stop spending money on credit card interest. Your credit card company is getting rich by scamming you with high interest rates. But a website called AmOne wants to help.

If you owe your credit card companies $ 50,000 or less, AmOne will match you with a low-interest loan that you can use to pay off each of your balances.

The benefit? You will have an invoice to pay each month. And because personal loans have lower interest rates (AmOne rates start at 3.49% APR), you will get out of debt. what Too much faster. Plus: No credit card payment this month.

AmOne keeps your information confidential and secure, which is why, after 20 years in business, it still has an A + rating from the Better Business Bureau.

It takes two minutes to see if you qualify for up to $ 50,000 online. You must give AmOne a real phone number to qualify, but don’t worry, they won’t spam you with phone calls.

4. Reduce your bills by $ 489 / year

Another way to grow your money: stop overpaying on your bills.

For example, when was the last time you checked car insurance prices? You should buy your options every six months or so as it could save you a lot of money. However, let’s face it. It’s probably not the first thing you think of when you wake up. But it does not have to be like that.

A website called Insure makes it easy to compare car insurance prices. All you have to do is enter your zip code and age, and it will show you your options, and even discounts in your area.

With Insure, people have saved an average of $ 489 a year.

Yes. That could be $ 500 back in your pocket just for taking a few minutes to look at your options.

5. Add $ 225 to your wallet just for watching the news

This is a sure way to earn a little extra money.

We live in historic times and we are all constantly updating ourselves to receive the latest news. You probably know more than one news junkie who imagines himself to be a respiratory disease expert or a political mastermind.

And research companies want to pay you to keep looking. You can add up to $ 225 a month to your pocket by signing up for a free account with InboxDollars. They will present you with short news clips to choose from each day, then ask you a few questions about them.

You just have to answer honestly, and InboxDollars will continue to pay you every month. This may sound too good to be true, but it has already paid its users more than $ 56 million.

It takes about a minute to sign up and start charging to watch the news.

Mike Brassfield ([email protected]) is a senior writer on The Penny Hoarder. Try not to get obsessed with the stock market.

* For Securities with a price greater than $ 1,000, the purchase of fractional shares starts at $ 0.05.

** You will also pay the standard fees and expenses reflected in the price of the ETFs in your account, plus the fees for various ancillary services charged by Stash and the custodian.




RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
Google search engine

Most Popular

Recent Comments