If you have had a good year, a windfall or you have finally decided to invest the money that you have been saving up over the years then we have some great advice on doing just that. Investment is a great way in which you can grow your wealth and it is a pretty exciting way to do so as well. Whether you are looking at using your 401K or some money which you have come into, here is you should approach investing $50k.

Educate Yourself

Before parting with a single cent, you need to gain a complex understanding of what you will be investing in and how. I would recommend that you spend at least 6 months working on gaining more knowledge about how markets move, strategies of investment and of course, deciding on where you will put your money. Having the cash is only the first step and if you want to make sure that you profit, you must invest time in learning, before you invest money.

Spend Time With a Broker

A great broker can be the difference between you making profit and not and if you want to to give yourself the best opportunity, you need to find a good broker with your interests in mind. Spend time looking for a broker and don’t be afraid to set up a few meetings so that you can get an idea of how they go about their business.

Diversity

Placing all of your $50k into one investment is not necessarily the best idea as your exposure is pretty large, the best way to invest therefore is to have a diverse portfolio. In order to do this, you will need to look at a number of options across different industries which you can invest in and make sure that you have a solid understanding of each one. When you diversify like this then even if one area isn’t going very well, you will have others that are.

Investment Ideas

Here are a few ideas for where you could place your investment.

  • Cryptocurrency

Cryptocurrency is a hot topic amongst investors right now and you can invest in currencies like Bitcoin, Litecoin and Epherium in order to make some big gains. The market is pretty volatile right now which means that if you are smart, you can make some strong profits from this area of investment.

  • Blue Chips

A great way to get started in the stocks and shares market is to invest in companies which are known as blue chips. These are companies such as Google, Apple and Pfizer which are relatively stable and can offer short gains. There is little risk attached to these blue chip stocks which means that it is the perfect way to cut your teeth in this area of investment.

  • Property

Property is a great place to invest your cash, it is a stable market, there are gains to be had and you can physically see your investment. In order to get started with your $50k, I would advise that you enter into property with someone else or a consortium so that you can purchase a higher value property, without risking all of your capital.