Have you ever wondered how the Stock Market works? How to get started investing? It may seem like a daunting task, but as a Gig worker you should have at least a basic understanding of what to do with all that extra money you are making.
You are a business owner now and should be on the lookout for ways to make your money work as hard for you as you did for it. If you treat your investing like you do your gig work, you will be successful.
Here are some tips to help get you started.
1. Open a Trading Account
Ok. I know it sounds easy, but you should do your research and find one that fits your personal situation. Don’t mix personal and professional money though. Make sure you keep those separate just like you do business expenses. You can check out this list from investopedia about the top online trading platforms.
2. Learn, Learn, Learn, Learn
Read articles and books about investing. Get specific legal advice if you feel thats necessary. The big thing is to do as much research as possible. This is your money and will affect your current and future cash flow. So, ask lots of questions and try to find a Fiduciary Financial Professional.
3. Pick Investments You Care About
There are inherent risks to investments and there are a lot of people out there looking for an edge. Unless you plan on making this your Gig, don’t try to over think it. Look for value in Investments by finding companies that you care about or companies that fulfil a mission you care about. That way you win no matter what. For instance, as a gig worker you may choose something like Uber or Laundry On Demand (Shameless plug).
4. Practice Trading For Free
When you feel ready to give it a try, take one more step and practice without risking your real money. Check out this article from Investor Junkie to find the best places to do that.
5. Manage Trading
Once you have it all down, you have to keep track of everything and constantly evaluate what works. This is your investment money, and in order for it to grow, you have to treat it like a garden. Pick those weeds every once and a while and give extra water to the fast-growing strong ones.
We know how tough it is to find the time to do all those things that are important. We hope by using the best Laundry Service in DFW that you will have a few more hours to spend on those things that matter.