Investing strategies for beginners

Investment is a good way to prepare for the future as it provides income that you wouldn’t have had otherwise. There are many ways to begin your road to investing, such as bonds, mutual bonds, stocks, real estate, and more. Investment strategist, Steve Sorensen, explains some investing strategies for those who are just testing the waters in the game.
Image source: infolific.com

Beef up your 401k account: Make the most of what’s available by setting up a 401k account. A 401k account is not subject to federal taxes until you find the time to withdraw it, which means that you will retain all your deposits for a long time. Steve Sorensen says that many employers offer match programs in which they can match the amount of money in a zero-risk manner.

Invest money that you won’t need for the next five years: Investments can either go sour or reaps loads of money in the long run. Traditional investments such as the IRA are forgiving on early withdrawals and you can’t take out full contributions for at least five years.

Image source: moneyunder30.com

Do research: One of the best ways to make your mark in the investment world is by actually doing some research and gaining sound management skills. Investigate on individual start-up companies and monitor their growth, and find out if they offer skills and platforms that will boom in the next few months or even years.

I'm Steve Sorensen, investment strategist and business blogger based in Des Moines. One of the business topics I find both fascinating and practical is the history behind the world's most successful companies and their net worth. For more articles like this, visit this page.

Comments

Post a Comment

Popular posts from this blog

Can humble savings produce great investments?

Image
Image source: argentresources.com The short answer is yes. However, before thinking about investing, it’s best for one to get started and get serious on saving. A humble amount can produce large returns in the future, especially when one stashes their money in investment vehicles that do very well. Here are a few tips to turn small savings into great investments. Steve Sorensen Networth . For a good start in saving, one should subscribe to the idea of paying themselves first. The way to do this is by saving a part of the monthly income as soon as one gets it, instead of saving what’s only left after paying bills and purchasing wants. An emergency fund is an ideal training ground for saving up for future investments. It definitely isn’t a cheap bill as it should cover 3 to 6 months’ worth of either income or expenses. Steve Sorensen Networth. Image source: theprofitkey.co.uk It is recommended by financial advisors that individuals get started on saving and investing as soo
Read more

Five steps to encourage rapid growth in your company

Image
Image source: businessadministrationinformation.com A startup is a business that’s meant to grow rapidly. Designed to disrupt the market by providing innovative solutions to everyday problems, startups carry risks that founders must be prepared for. Part of being ready for significant expansion is having answers to tough challenges. Steve Sorensen net worth. Consider employee productivity as a business strategy . In the first years of the startup, it’s likely for the team to be small. During these times, practice and reinforce productivity practices. A founder of a startup must be clear with the standards of employee performance early on to measure productivity and improve it along the way. Steve Sorensen net worth . Image source: turfmagazine.com Focus on building processes . Create written processes for how things are to be done in the company. From hiring to the basic tasks, be sure to document everything. This will determine a startup’s long-term success. Be
Read more

A young professional's guide to building net worth

Image
Image source: Pexels.com  Steve Sorensen net worth. A person can increase their wealth as soon as they understand how their finances work. Learning how to manage one's money and applying these strategies allow a person to create wealth. There are some tips for young professionals who want to build their net worth. Settle debt If the payables are more than the income, this affects a person's net worth. Though it might take sacrifice, paying off student loans, credit card bills, and other debts early will allow a person to attain financial freedom faster. By setting goals and prioritizing these accounts, a person will have better opportunities to build their assets, investments, and emergency funds. Steve Sorensen net worth . Find a side hustle Image source: Pexels.com Income from a day job might not be enough for a young professional who is just starting out. Along with their desire to grow in their career, they might also consider pursuing graduate studies or m
Read more