Wondering what to do with $7,000? In this guide, I'll explain some great ways to invest $7,000 to build wealth and grow your money.
Some of the best ways to invest $7,000 include:
- Stock market investing with Acorns
- Residential real estate with Arrived
- Investing in crypto with Binance
- Commercial real estate with Realty Mogul
Invest in Real Estate with Arrived
Looking to invest your $7000 in real estate? Arrived is an accessible platform that allows you to invest in residential real estate and vacation rentals with as little as $100. This makes it a great option for anyone looking to diversify their investment portfolio and earn passive income with rental units.
With Arrived, you can own a piece of several different property types without the headaches and large down payments associated with traditional real estate investing. Plus, the platform is available to non-accredited investors, so you don't need to be a millionaire to get started.
Diversification is key when it comes to investing, and Arrived offers a great way to diversify your portfolio. By investing in rental properties and vacation rentals, you can spread your risk across multiple properties and enjoy the benefits of a diversified portfolio.
Arrived is a great option for anyone looking to invest in real estate with a small initial investment. With the ability to own a piece of several different property types, you can diversify your portfolio and earn passive income with rental units. So why not give it a try and see how Arrived can help you achieve your financial goals?
Invest In Stocks With Acorns
If you're new to investing, Acorns can be a great investing app to consider. With just $7,000, you can start investing in a diversified portfolio of stocks and index funds. Acorns invests your money consistently and out of sight, making it easy to save and invest your spare change.
Acorns offers a range of investment options, including ETFs and index funds, which can help you diversify your investment portfolio. The app's user interface and educational content are designed for beginners, making it easy to get started and learn as you go.
When investing with Acorns, it's important to keep in mind that all investments come with some level of risk. However, Acorns offers a range of investment options with varying levels of risk, so you can choose the option that's right for you.
Overall, Acorns is a great option for new investors looking to get started with investing. With a low minimum investment and a range of investment options to choose from, it's easy to get started and grow your wealth over time.
Grow Your Money With Realty Mogul
If you are interested in investing in real estate but don't have the funds to purchase a property outright, Realty Mogul might be the perfect platform for you. With as little as $5,000, you can invest in a variety of real estate projects, from apartment buildings to commercial properties.
By investing in real estate through Realty Mogul, you have the potential to earn a higher rate of return than you would with traditional investments like stocks or bonds. Plus, real estate can provide a hedge against inflation, as property values tend to increase over time.
Realty Mogul also offers the opportunity to diversify your investment portfolio. Instead of putting all of your money into one property, you can invest in multiple projects across different markets and asset classes.
Whether you are looking to save for a down payment on a home or build wealth over the next 30 years, Realty Mogul can help you achieve your goals. So why not take the first step towards growing your money today?
Start A Business
If you're okay with taking some risk and investing in yourself, starting a small business could be a great option for you. While it can be a challenging world, there are many resources available to help you succeed.
To begin, you'll want to identify your goals and future plans. What kind of business do you want to start? What kind of initial investment will be required? How will it affect your net worth in the long run? Once you have a clear idea of your goals, you can begin to research and develop a business plan.
Starting a business can be a great way to increase your net worth over time. If you're happy to put in the work, it can also be a rewarding and fulfilling quest. Remember, it's important to have a realistic understanding of the risks involved, but with careful planning and hard work, starting a small business can be a great investment in your future.
Here's a great video on how to get started.
Invest In Real Estate Debt With Groundfloor
If you're looking to invest $7000 and earn a great return, consider investing in real estate debt with Groundfloor. Groundfloor is a real estate investing platform that offers short-term debt investments backed by real estate assets. As an individual investor, you can invest in limited recourse obligations (LROs) that provide high-yield returns of up to 12% annually.
Investing in real estate debt with Groundfloor is a great way to diversify your portfolio and earn passive income. Unlike traditional real estate investing, you don't need a large sum of money to get started. With a minimum investment of $10, you can start investing in real estate debt and earn high returns.
Investing in real estate debt does come with risks, but Groundfloor mitigates these risks by providing collateralized and secured investments. Additionally, Groundfloor carefully selects the real estate projects they invest in, ensuring that they are low-risk and high-yield.
Flip Things
If you're looking for a way to turn your $7,000 into more money, flipping things is a great option. This involves finding items that you can buy at a low price and resell for a profit.
One option is to look for vintage electronics like Walkmans, cassette players, and VCRs. Many people assume these items have no value, so you may find them for low prices. You can then sell them online for a higher price.
Another option is to look for furniture at garage sales and yard sales. Wood furniture and vintage furniture manages to keep its value pretty well, and depending on the particular item you pick up, you can sell it for a large profit.
Sports equipment is another category to be on the lookout for. Bulky items like home gyms, treadmills, and exercise bikes can actually resell for pretty good prices.
Flipping things can be a great way to make some extra cash, but be sure to do your research and only buy items that you know you can resell for a profit. With some effort and a little bit of luck, you can turn your $7,000 into even more money.
Open A High Yield Account With Tellus
If you're looking for a way to earn more interest on your savings, opening a high yield account with Tellus could be a great option for you. With a base rate of 6.00% Annual Percentage Yield (APY), Tellus offers a much higher rate than the average traditional savings account.
By depositing your money into a high yield account, you can earn more interest and grow your savings faster. Plus, with Tellus, your money is backed by real estate investments, which can provide added security and stability.
Opening a high yield account with Tellus is easy and can be done online in just a few minutes. Plus, with a low deposit requirement of only $200, it's accessible to just about anyone.
By opening a high yield account with Tellus, you can work towards achieving your financial goals, whether it's building an emergency fund or saving for a big purchase.
Invest In Cryptocurrency With Binance
If you're looking for a way to diversify your investment portfolio, consider investing in cryptocurrency with Binance. While cryptocurrency can be volatile and risky, it also has the potential for high returns.
To get started, log into your Binance account and choose the cryptocurrency you want to invest in. You can buy a variety of cryptocurrencies with a credit or debit card, including Bitcoin, Ethereum, and Binance Coin.
Keep in mind that cryptocurrency is a long-term investment and you should only invest what you can afford to lose. It's also important to do your research and stay up to date on the latest news and trends in the cryptocurrency world.
While there is no guarantee of future returns, many experts believe that cryptocurrency has the potential to disrupt traditional financial systems and become a major player in the future of money.
So if you're keen on taking a risk and investing in the future of money, consider adding cryptocurrency to your investment portfolio with Binance.
Start A Blog
Are you interested in starting a small business or earning some extra income? Starting a blog is a great way to do just that! With just $7000, you can create a blog and start earning money in no time.
Blogging can be a great investment for your future. It allows you to work from home and create content that you are passionate about. Plus, once you start earning money from your blog, you can reinvest that money into your blog or other investments.
Starting a blog doesn't require a lot of education or experience, which is why I love it. There are plenty of resources available online to help you get started. You can even start a blog for free using platforms like WordPress to make things easy.
To make money from your blog, you can monetize it through advertising, sponsored content, or affiliate marketing. With consistent effort and a balance of quality content and promotion, you can start earning a monthly income from your blog.
Pay Off Debt
If you have any outstanding debts, it's important to consider paying them off before investing your $7000. This is because the interest rates on most debts are often higher than the returns you can expect from investments.
Paying off debts also has the added benefit of improving your credit score, which can help you achieve your financial goals in the long term.
Start by making a list of all your debts, including credit card balances and student loans. Then, prioritize them based on the interest rates, paying off the ones with the highest rates first.
If you have multiple debts with similar interest rates, consider paying off the one with the smallest balance first. This can give you a sense of accomplishment and motivation to continue paying off your remaining debts.
Remember that paying off debt is a process, and it may take some time to become debt-free. But with a little bit of discipline and dedication, you can achieve your financial goals and set yourself up for a brighter financial future.
Invest In Yourself
Investing in yourself can be one of the best investments you can make.
With $7000, you can enroll in a college course or certification program to enhance your education and qualifications. This can lead to better job opportunities and higher earning potential in the future.
Alternatively, you can invest in your health by purchasing a gym membership or hiring a personal trainer. A healthy body and mind can lead to increased productivity and a happier life.
Finally, consider investing in your future by creating an emergency fund or paying off high-interest debt. This can provide a sense of security and financial stability.
Remember, investing in yourself is just as important as investing in your financial future. Take the time to evaluate your goals and priorities before making any decisions.
Final Thoughts
There are many ways you can invest 7000 dollars but some of my favorites include real estate or stocks. These are proven methods that can be a great way to build wealth.
Related Posts
