Although it may not be regularly discussed in Forbes magazine or on the news, some of the most powerful business people are not just stockbrokers or CEOs of Fortune 500 companies. No, some of them are right in our midst daily. They’re called WAHM, which stands for Work At Home Moms. What makes them powerful is that they are the core of what keeps many families together.
And just like other people who tirelessly serve at their jobs, these women should also have a financial plan in place, including investment strategies that they can implement to help to secure their future — perhaps investing in one or many of the top 500 largest stocks.
If you are a “WAHM” or if you know one, feel free to pass these five tips for beginning investors along.
Beginner Investment Strategies for WAHMS
Have solidified goals. We all have heard it said before: “Those who fail to plan, plan to fail.” It’s not good enough to just “want to do some investing.” There also needs to be some clear plans in place. If you’re not sure where to start, you may want to set up an appointment with a financial planner or investor who can help you explore your many options.
Consider the size of the investment that you want to make. Thankfully, there are investments for all kinds of needs and incomes. Small investments include depositing monthly into a mutual fund of about $100. Medium investments are between $500-2500. These can be great for those who want to place their money into several different kinds of mutual funds. Large investments are considered to be those that are $10,000 and up, although it is highly recommended that with these, you put in a little at a time into the marketplace over 12 months.
Ever considered getting into real estate? With the real estate market still trying to recover, many people are purchasing foreclosed homes, fixing them up and then reselling them. Now, you need to be cautious with this move because while there is a high chance that you could make a pretty significant profit, remember that you have to sell the house first for that to happen. So, if you’re not the most patient person, this may not be the best route for you to take.
Go into gold. One investment that’s actually considered to be pretty safe is gold bullion. Investors will go this route to serve as a protective hedge. The great thing about gold is that it is a “universal financial language” in the sense that every bank in the world recognizes it. Just remember that gold fluctuates and so you’ll have to get yourself into the habit of watching the market very carefully on a pretty consistent basis.
Stocks. When someone makes stock picks, basically what they are doing is making a conscious decision to put a certain amount of equity into a company (so yes, do your research on the business that interests you before buying any of their stock). If you’ve ever watched either Wall Street movie, you may think this is just an investment for the very rich, but there are stocks that are pretty cheap including Alcoa, SandRidge and Wendy’s. When it comes to being a wise investor, it’s not so much about how much money you have; it’s about being savvy with it. And if anyone can make a dollar make much more cents (and sense), it would be a WAHM.