15 Smart Ways To Invest $10,000 (2022 Edition)
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So, you’ve got yourself your first 10k in savings, which is amazing! Now you just need to decide what to do with it.
We’re sure you thought about taking a nice trip or putting in a down payment for a new car. But is that really the best way to spend $10,000? Probably not.
What you actually should do with that money is invest it. You have to make your money work for you, not just work for it.
You’ve made a great first step in searching for ways to invest by coming here. We have compiled a list of 15 smart ways to invest that $10,000 you’ve worked so hard for!
Number 1. Pay Off Your Debt (01:30)
You might not have expected this to be number one on our ‘ways to invest $10,000 list,’ but hear us out.
Number 2. Start an Emergency Fund (02:13)
If you don’t already have an emergency fund, that’s the perfect way to invest your $10,000.
Number 3. Start a High-Yield Savings Account (02:54)
If you’re not sure what to do with your money and don’t want to make an investment you might regret, keeping it in a high-yield savings account is a great midway stop.
Number 4. Invest in Stocks and Bonds (03:42)
Anyone can make money by investing in stocks and bonds! But you will need to do some learning before you can do that successfully.
Number 5. Invest in Mutual Funds (04:54)
Before you become a stock trading expert, investing in mutual funds is the safer option.
Number 6. Invest in Real Estate Investment Funds (05:25)
Since $10,000 is not enough to buy an individual property, REITs, or real estate investment funds, are an excellent alternative.
Number 7. Cryptocurrency (05:59)
Cryptocurrency is no longer the unusual investment that it used to be. In fact, it’s now one of the most profitable investment opportunities out there.
Number 8. Get a 401K Match From Your Company (06:47)
If you’re not getting a 401K match from your employer, you’re basically taking money away from your future self.
Number 9. Invest in Yourself (07:40)
As Roy Bennet said in his book The Light in the Heart:
“There is no more profitable investment than investing in yourself.”
Number 10. Give P2P Lending a Shot (08:21)
Peer-to-peer lending may be a somewhat new investment method but is an excellent choice if you’re looking to make some money without dealing with traditional financial institutions.
Number 11. Start Your Own Business (08:57)
If you’ve been thinking about starting your own business, your 10k savings could be enough to get you started.
Number 12. Try Robo-Advisors (09:45)
So, essentially, robo-advisors do the same thing that investment advisors do. But they do so at a much lower cost than a professional human investment advisor.
Number 13. Start Your Own Brokerage Account (10:41)
If you’re not comfortable with putting your money in the hands of an app (although robo-advisors are a safe option), you can start your own brokerage account.
Number 14. Fund a 529 Account (11:14)
If you have kids, there’s no better investment than making sure they get the best possible education. That is why you should consider funding a 529 account, no matter how young your kids are
Number 15. Invest in Your Home (12:55)
$10,000 may not be enough to buy a new property, but it certainly is enough to improve your home.
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