No matter how much income you earn, it’s always wise to think of ways to grow your money. Investing is one of the top ways to get passive funds into your bank account. These are some investment ideas if you need help figuring out where to start.

Stocks

Many people try their hand at the stock market when they prepare to invest. You can do that also. You don’t have to know much about stocks to get started other than “buy when they’re cheaper and sell when they’re more expensive.” However, understanding when a particular market is hot still has a bit of a learning curve.

The good news is that you can start small with an app like Acorns or Stash to get a feel for it. When ready to go large, you can speak to an experienced stockbroker. Alternatively, you can start investing in the stock your employer offers if they allow their workers to do so.

Cars

Cars can be excellent investments as well. With so many people needing transportation, you might make a killing by purchasing a vehicle. You can rent it to drivers who want to do rideshare or workers who need to get around while their mechanics work on their cars. If you invest in the right used vehicle, you could start making profits within a year.

Real Estate

Investing in a duplex, apartment building, or motel is another excellent way to earn money. People will always need a place to stay, and you can capitalize on that need by investing in properties they can rent.

The first step in this process is to decide which type of dwelling you want to invest in. Then, you can speak to a reputable mortgage broker to see what you qualify for. The rental income from a venture like this can pay your mortgage and life expenses.

Startup

You may be more interested in investing in a business if you have decent funding. Maybe you want to help a struggling entrepreneur get off their feet and find their place in the business world. You can request a percentage of their profits in exchange for your financial sponsorship. A venture like that might be very fruitful.

CDs and High Yield Savings Accounts

Another way to invest is to consider CDs and high-yield savings accounts. These are foolproof ways to earn money because all you have to do is leave them alone. You could purchase CDs every time you get paid or put your money into a high-yield savings account and bring the same result.

Some banks are lenient and do not require a minimum deposit to earn the high interest. Thus, you can get started with a small amount of money and have it grow over time. Choose from the above-mentioned investment ideas or think of some creative ones on your own. It’s never too late to start investing if you haven’t done so already. After some years’ time, you’ll be glad you did.