Contrary to what most people think, it is quite possible to become rich even on a modest income. The challenge will be to get your personal finances under control. Do not think of becoming a millionaire with a minimum wage, however, it will be a question of budgeting your expenses but above all of planning an amount to save at the beginning of the month.
The second challenge will be knowing what to invest your savings in. Obviously the choice belongs to everyone and each household has its particularities. However, it is quite possible to define broad outlines in the discipline of investment. Thus in this article we will proceed by palliating to enter smoothly into the mysteries of investment.
With 5,000 euros one cannot really speak of an investment. It is above all a question of building up precautionary savings. This savings will allow you to have a financial cushion in case of a hard blow, a pear for thirst as they say. Suppose your washing machine breaks down, you don’t need credit to buy an emergency one, you have what it takes. In order to fully fulfill its role, this precautionary savings must be liquid (quickly available). The livret A therefore remains the preferred investment for such a sum.
You can start investing with this amount. Here several choices are available to you and depend on the future you envision. If you are young and you plan to invest in real estate then the PEL (housing savings plan) may be possible. On the other hand, if you want to prepare for your retirement, why not try life insurance? Finally, if you are not afraid to take risks, you can make your debut in the stock market (also possible via life insurance).
You start to have a nice nest egg. To secure your assets or offer you an annuity, prefer rental property investment. On the other hand, if you want to always earn more money, the doors of the long-term stock market offer you, you can expect very good returns if your choices are judicious. Finally look at the side of the boosted booklets, by chaining the promotional offers you can have a quite decent rate with some logistics.