The Minority Mindset Show How To Start Investing With $100 For Beginners
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Jan 28, 2025 Explore beginner-friendly strategies for investing with just $100. Discover the importance of tackling high-interest debt first. Learn about safer investment options like high-yield savings accounts versus riskier assets such as cryptocurrencies. Delve into personalized investment strategies that include real estate crowdfunding. Hear about the balance between traditional and speculative investments, along with a personal entrepreneurial journey that highlights the challenges of taking risks.
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Prioritize Paying Debt Early
- Pay down high-interest debt first for a guaranteed high return.
- Paying credit card debt early saves huge interest expenses compared to other investments.
Use High-Yield Savings Account
- Keep your $100 in a high-yield savings account to earn around 4% interest.
- This is low risk though returns are modest and inflation may impact gains.
Understand Retirement Accounts Fully
- Invest in 401(k) or IRA accounts but understand limits, tax timings and fees.
- Company matches, tax benefits, penalties, fees, and limited options are key considerations.