How To Invest $1,000 πŸ’Έ 7 Ways To DOUBLE Your Money In 2020

FREE 8 Part Stock Market Course β–ΆοΈŽ https://www.freeinvestmentcourse.com
In this video, I will be sharing what I believe are the best ways to begin investing with $1,000. Investing $1,000 is a sizable amount of money, so it is important to do some research and understand what options are out there available to you.

1️⃣ Emergency Fund (2:31)

While this may sound boring, one of the best investments you can make with $1,000 is simply setting it aside as an emergency fund. Maybe you have an unexpected car repair or dental bill, you will be glad you have this money!

As far as where to keep this money, I recommend a separate online savings account so you are not tempted to use this money for impulse purchases. My #1 recommendation for an online savings account is Betterment Everyday. They have one of the best interest rates on the market and the minimum to open a savings account is just $10.

Betterment Everyday Savings πŸ‘‰ https://betterment.evyy.net/v6YjO

2️⃣ Stock Picker (5:56)

The next investment option is to go out and buy shares of your favorite company. In my opinion, this is one of the best ways to invest $1,000 because it will be a great learning experience.

My #1 brokerage recommendation is Webull, since they are 100% commission and fee free. As an added bonus, you get a free stock when you open an account and fund it with $100 or more!

Webull (Get A Free Stock!) πŸ‘‰ https://www.ryanoscribner.com/webull

3️⃣ Crowdfunded Real Estate (8:55)

This is a 100% passive and hands off option for investing $1,000 known as crowdfunded real estate investing. Essentially, you pool your money with others from all over and that money is used to invest in private real estate deals.

The platform that I personally use and recommend is called Fundrise. They have invested over $2.5B in real estate since inception, and you can become an investor with as little as $500.

Fundrise (Passive Real Estate Investing) πŸ‘‰ https://fundrise.sjv.io/n6YEo

4️⃣ Robo-Advisor (12:43)

For those looking for a passive, hands off approach to investing in the stock market, robo-advisors may be the perfect fit. Essentially, they have taken the human involvement out of financial advisement and passed the savings along to you. Most financial advisors charge a 1% asset management fee whereas these robo-advisors charge a fraction of that.

My #1 recommendation for a robo-advisor is Betterment. They have over $16B in assets under management, and they charge just a 0.25% asset management fee. The best part is, there are no account minimums!

Betterment (Passive Robo Investing) πŸ‘‰ https://betterment.evyy.net/Kd7XA

5️⃣ Roth IRA (16:09)

If you are looking to invest money and avoid paying taxes on the growth, one of the best options you have available to you is a Roth IRA. This type of account allows you to grow your dough tax free, as long as you don't touch the earnings until retirement age.

My #1 recommendation for opening a Roth IRA is M1 Finance. They are one of the only brokerages I have come across that offer 100% fee free retirement accounts.

M1 Finance (ZERO Fee Roth IRA) πŸ‘‰ https://www.ryanoscribner.com/m1-finance

6️⃣ Pay Off Debt (21:43)

Often times, one of the best investments you can make is simply paying off any high interest debt like credit card debt. While this may not sound exciting, it will most likely give you your best ROI. If you are paying 20% interest on a credit card, for example, there is nothing you could invest in that would consistently give you a return over 20%.

7️⃣ Self Education (23:59)

Investments in yourself will often times give you the greatest ROI. If you can increase your lifetime earnings potential, you could easily earn a 100x or 1000x return on this investment in yourself.

___

DISCLAIMER: Ryan Scribner, including but not limited to any guests appearing in his videos, are not financial/investment advisors, brokers, or dealers. They are solely sharing their personal experience and opinions; therefore, all strategies, tips, suggestions, and recommendations shared are solely for entertainment purposes. There are financial risks associated with investing, and Ryan Scribner’s results are not typical; therefore, do not act or refrain from acting based on any information conveyed in this video, webpage, and/or external hyperlinks. For investment advice please seek the counsel of a financial/investment advisor(s); and conduct your own due diligence.

AFFILIATE DISCLOSURE: Some of the links on this webpage are affiliate links, meaning, at no additional cost to you, we may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact our opinions and comparisons.

HOLDINGS DISCLOSURE: Ryan Scribner holds the following stocks: General Electric (GE), Alibaba (BABA), JD(.)com (JD), Facebook (FB), Apple (AAPL) and National Grid (NGG). While reasonable steps are taken to keep this information updated, this list may not be the most current.
+