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A Comprehensive Guide to Grow your Wealth in 2020 A Comprehensive Guide to Grow your Wealth in 2020

New Year comes with new enthusiasm to set financial objectives. Are you ready to set the financial goal to improve your money management skills and grow your wealth? Well everyone has to! Not investing your money will bring down the value of your time. Nobody wants to be in this situation.

Undoubtedly building wealth is a gradual process and it becomes exponential over time. But where should you invest based on your current situation? You will get hundreds of options if you research it. But too much information can at times become confusing. Here is a simple and comprehensive guide to help you understand how to invest money in the UK in 2020.

  1. How to invest your money?

    You need to start with basic knowledge of investing the money. The basics inculcate fixing investments objectively and determine where to invest to achieve your goals. How to fix a goal?
    Think about how you did regarding building money in the last year and what your existing wealth level is.
    We recommend you to make an Excel sheet and track things like:

  • How much you are spending on a weekly and monthly basis?
  • How are your previous investments?
  • What has been your complete financial growth in the last 24 months?

After you have created a baseline, you are in a better position to meet your financial goals.

2. Investing money for beginners?
For beginners, we would recommend making an excel document that has a column of age, year, the current level of wealth, assumed ROI, the total amount you add to wealth every month, and finally total wealth of 3 months. Now you have tracked your finance, make a plan of investment that you think will help you reach your goal with subsequent years.

3. Where Should I invest money?
So by now, you have kept money aside for investment. Some investments are risky compared to others. But with the high risk, you get higher returns. So before that, you need to understand the kind of assets you should invest based on investment objectives and financial situations.

Here ways to investments money in the UK:

a. The London Stock Market 
This is one of the most beneficial places to invest. Buying a stock means owning a small portion of the company. When the company is in profit, you get the portion of the profits in dividends based on how many stocks you own. If your company increases with time, the price of your share will increase too. Eventually, you can sell these stocks at a profit.
b. Open-Ended Investment Companies (OEICs)
These are collective investment funds that are managed professionally. A manager pools money from multiple investors and purchases shared, property, bonds or cash assets.
c. Savings Accounts
This is the least risky way of investment. You just have to put your money in savings accounts and collect the interest. But low risk means you will get lower returns. The risk of putting your money in a savings account is negligible but the returns are minimal. Yet this kind of investment is recommended to keep a stockpile of a risk-free sum of cash that can be used for sudden investment or emergency.
d. Secure Trade Investment
If you are looking for low-risk investments that can give you high returns then secure trade is the best option. A bond is issued by a private bank that pays 3% every month to your account for 2 years. The minimum investment is €10.000 and guaranteed by the insurance policy.
e.  Physical Commodities
This means investing in things that you own physically like silver or gold. Such physical commodities act as a safeguard for the economic hard times.

4. What are the best ways to invest money in your 20’s?

Well, you can never be too late to start an investment. Though beginning early has major perks. Investment can give you a big head start that can help you with the money when you retire. So, when you begin investments in your 20s, it’s great to first focus on paying debt like credit card or student loans. Debt is the biggest hindrance to your financial wealth. So your foremost goal should be to become debt-free as soon as possible. After you have controlled your debt, begin researching for the investment and stock market. Gather all the information and on that basis highlight, the companies that you think will grow in time. It’s always a good idea to invest as much as you can but even if you are investing 20% of your salary, you will be in a good position till the time you retire.

5. How to invest money to make money?

People consider investing as a kind of income and some have seen a success rate in maintaining their living standards by trading stocks. Most people believe in long-term investment and they let their money compound in the market for 10 and 20 years.

6. What are the best ways to invest money in the short-term?

You have to trade stocks in and out to earn money in a short period. The problem in revolving your money is that you are dependent on luck a lot irrespective of how skilled you are at trading stocks. So we would recommend you to invest money with a long term gain rather than short-term. You will make money both ways but with the long term, you reduce the risk and negates the price drops.

7.  Where to invest money to get good returns?

  • Stock Market:
    The best option is The London Stock Exchange to complete long term or short term investment goals.
  • Investment Bonds:
    You can invest in Government bonds and Private players with a fixed percentage ROI and low-risk investment.
  • Real Estate Investment:
    If you can lick your money for a longer time and have substantial cash, real estate is the best investment tool.

8. What’s the Best Way to Invest Money?

Among the investment options, the stock market offers the most rewards. However, that doesn’t mean you can put your money in any random company to get great returns.

Here is an investment strategy to help you determine whether a company is worth putting investment or not. Following the guideline can help you make a good investment at an affordable price.

  • Management:
    The first step should be to analyze the potential of the company. This should be judged through the executive working in the company. If you find them determined, honest and talented then you can trust the company. So before you invest, get familiar with the management.
  • Meaning:
    Try to look for investing in a company that you can connect with. This will help you analyze the future of the company in a better way. This will you can research well and also will be familiar with the ongoing activities.
  • Safety Margin
    The final rule is to evaluate the safety margin. This can be done by checking the “on-sale” stock price of the company as compared to the true value. The value of the company’s price may differ from the value. When looking for good companies, this should be your parameter.

9. How to invest money in stocks?
Here are the steps to give yourself the best possible chance at successful returns.

  • Analyze financial baggage and set your goals (give specific consideration to employment, family situation, debt, household budget)
  • Put some money aside in saving account
  • Open a retirement account
  • Begin investing in a low-cost online service with an online advisor
  • Invest in individual stock gradually
  • Don’t miss to diversify

So now you have seen top investments to make money. Some of them offers fixed income while others are linked with the market. For a long-term goal get the best of both the worlds. Follow these steps and you will see an increase in your wealth in 2020. Remember all you need to do is invest in a process keeping financial aim in your mind.

Additional Resources:
1. Things to consider for Safer Investment with High Returns

2. Best Value Investment Blogs You Should Be Reading

3. The Risk and Rewards of Investing in Mutual Funds

4. How to Invest: The Smart Way to Get Good Return on Your Investment

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