If you want to invest $100 as an expert, the very first thing you need to do is to prepare your mind to take risk. Don’t let that scare you, taking risk here simple means being ready to start the journey to your financial freedom.
As a rule of thumb, the most difficult part of investment is getting started. The sooner you are ready to begin, the better for you. Most people mistakenly believe that they can only start an investment plan when they have up to $500 or more. Starting with a good capital is excellent, but what if you can start with as little as $10 and grow it daily, weekly, monthly or yearly depending on your investment plan and portfolio.
Before we continue, let’s look at things you should consider:
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Things to consider/Avoid when choosing an investment plan
1. Get rich quick scheme
You probably heard of some scheme that claimed to transformed people lives over night. Funny as it sound, some of them are actually real. But if you want to invest $100 as an expert you should completely avoid these kind of scheme, except you are lucky to meet a plan that is scalable with minimal risk.
If you wish to invest in any get rich quick scheme maybe like Binary option trading, you should have a ‘buyer-awareness’ mindset; some people called it ‘buyer beware mindset’ These kind of scheme look very profitable but they are highly risky,and the rate of loosing your money is 100%
Gambling is not an investment plan you should consider if you are working towards your financial freedom. I often hear people say ‘keep playing one day luck will shine and you will hit millions’ but the truth is the longer you play, the more you will lose. If you have just $100 and you want to invest, PLEASE AVOID GAMBLING.
3.Investment you don’t understand
Avoid any investment plan that you don’t understand. If you are just starting out, it’s wrong to just jump at any investment plan because you want to make profit. You have to do a through research on any investment plan before investing your money.
How to invest $100 as an expert
1. Invest in yourself
If I want to invest $100 dollar now, the first thing i will do is to take at least $20 and sharpen my skills in a specific area by paying for a course on Udemy, edx or coursera. The $20 dollar investment can earn me more than $100 monthly after a short while.
2. Learn a skill
3. Start a blog
If you love to write, with $100 dollar, you can start a blog that can earn you more that $300 monthly. You just need to have the passion, patience and desire. If you fancy blogging, read our articles on 10 Smart ways to make money online and follow the steps on how to start a blog.
4. Buy something today that will save you money or time over the long run.
It can be a book, a phone or something that can add value to you on the long run.
5. Invest in Stock Market
Investing in stock market can change your life. The truth is you can start with as little as $100.
Here is what you need to do:
i. Find a stockbroker to open a brokerage account,
ii. Complete a central securities clearing systems account opening form,
iii. Fund your account and start trading.
When you are choosing a portfolio:
i. Choose a portfolio of at least 10-12 stocks
ii. Study Company financial statements before buying their stock
iii. Avoid stocks that make big moves in both direction
iv. Avoid companies whose business you don’t understand.
6. Invest in the Forex Market.
Forex is a high yield investment plan with high risk. You can lose all your investment in a second.