If you want to achieve financial security, you need to learn where to invest and how to invest your money now. You will also need to learn the right investment strategies to make sure that you can double your income and achieve your financial goals.

We believe many individuals out there have the money but clueless on how and where to invest. This article is, therefore, very timely and beneficial to UK investors and even those investors from different parts of the world who aim to increase their income and grow their finances strategically.

Where Should You Invest Your Money

If you decide to invest your money, you will surely be overwhelmed with the numerous options available. However, the most trending, profitable, and promising place where you should invest your money now are as follows:

  • Stock Market

 The stock market is undeniably one of the most beneficial and profitable places for investors to put their money. If you purchase stocks, you will become the owner of a small portion of a particular company you bought to. If this company generates profit, you will also earn part of that profit in dividends. These will be based on the shares of stocks that you own. If the value of the company continuously grows, the price of shares you own will also increase, and you can sell these later on for great profit.

  • Investment Bonds

If you buy a bond, you’re significantly loaning a particular amount of money to either government or company. The company or the government that sells the bond will pay you the interest on the loan over the bond’s life cycle duration. Bonds are often considered as less risky as compared to stocks; nevertheless, their potential returns are lower.

  • Mutual Funds

 Instead of purchasing single stock, mutual funds allow you to purchase a basket of stocks in a single purchase. Stocks in mutual funds are usually selected and are managed by a mutual fund manager.  In most instances, mutual fund managers charge a particular fee-based on the percentage the moment you invest in their mutual funds. Such a fee makes it hard for investors to beat the market when they make their investments. The majority of mutual fund investors do not actually win over the stock market.

  • Savings Account

 These are less risky, but sometimes, these can be the worst way of investing your money, particularly if you put it on a savings account, allowing collecting interests. Nevertheless, which is often the case, the low risks could also mean low returns. There is a risk of putting money to a savings account that is negligible in nature, and there are minimal to no returns typically.

But still, savings account plays an important role when it comes to an investment. This allows investors to stockpile risk-free amounts of money that they can use in buying other potential investments, or they can make use during emergencies so they won’t touch their other investments.

  • Physical Commodities

 These physical commodities are referred to as investments that you own physically, like silver and gold. These types of commodities usually serve as protection against tough economic times. There are many good reasons to invest in gold and silver. These physical commodities are highly in demand and inflation-proof; they are known for their universal value and high liquidity rate and more. Gold and silver are highly valued physical possessions, and these well-known investments can provide you with privacy.

Just like other investment, silver and gold have their own sets of pros and cons and have their good and bad days in the investment market as well. But regardless of these, the benefits of these physical commodities are enthralling. Silver and gold are definitely worth their weight.

Investment Tips to Help You Double Your Income in 2020 and Beyond

If you want to double your income and grow your finances this year and beyond, the following investment tips can help you achieve these goals:

  • Establish sound financial goals. This will allow you to put together profitable and effective investment plans with the right long term allocation to bonds, stocks, and other classes of assets.
  • Begin saving money as early on because the earlier you save, the more time you have to invest. Even if you are already earning more money out of your investments, continue to save.
  • You need to see investing as a marathon and not sprint. Note that investing money for five years or even more is actually a brilliant idea as investing is perfectly suited for long term financial goals.
  • Avoid speculating when it comes to your life savings. Remember that investment shouldn’t be a gamble. To speculate variably, that includes buying as well as selling investments, depending on little knowledge, will just result in anxiety and poor results.
  • You should focus on the income of the investments you make. A company’s value grows overtime at the rate on which its profit grows. In a similar way, the value of investments grows at the rate that its dividends grow. Invest in income while having a long-term view of your capital that can also be somehow volatile.
  • Make sure that you know what you are investing in. We have seen a lot of investors failed because they don‘t have a clearer picture of what they are really up to and lack knowledge of what business or asset classes they are investing to. So, never ever invest in anything you do not know, and you do not understand.

When you invest, you also don’t need to worry about economic variables that are out of your control. It is not easy to predict interest rates, movements of exchange rates, or the stock market. You can also consider investing in shares producing reliable streams of dividends.

Overall, individuals should keep in mind that investing is all about income. Investing must be focused on investing income streams that can fund a lifetime. Monitoring the income you have produced is also important to know how far your investment goes and if it’s making real profitable progress.