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Entrepreneurship is on the rise. It has quickly become one of the best trends to jump into, and in a nation built on freedom, being anything other than a freelancer or entrepreneur doesn’t make too much sense. To be an entrepreneur is fantastic, and we see this with diverse people making their marks in the business world.
Women have made great strides in this last decade (2010-era). Check out this article, “Women Entrepreneurs: Leading the Charge,” and you’ll a steady increase of self-employed females.
The Top 7 Great Investment Plans
Here are the top seven great investment plans that business women need to focus on to stay at the top of their games:
1. Stock Market
The stock market is known as the place where millionaires can be made or destroyed in a matter of minutes — no hyperbole. For anyone (male or female) looking to really expand their financial portfolio and make a noticeable impact on their current economic reality, the stock market is where it’s at.
This is not to suggest the stock market is a quick cash financial sector, as there are long term stocks that you can invest in. However, it’s a great place to invest your money if you know what you’re doing and know how to read the market.
2. Real Estate
Real estate is perhaps one the best niches of investment to enter into. Real estate is the ultimate passive income source as almost everyone, person, family, or business, needs a place to stay or rent out.
Regarding renting, with the population getting increasingly older, learning about an assisted living business plan might be well worth your time. If you have the means to invest in real estate, this could be a great investment.
3. Peer-to-Peer Lending
Peer-to-peer lending is yet another excellent investment opportunity for those who have the means to do it. This involves lending your money out to banks, individuals, or groups. You act, in a sense, like a creditor, loaning out your money to other entities.
The idea here is that these entities will then have to pay you back, plus interest, thus increasing whatever amount you lent out to them. This is a very secure process, assuming you are working with reputable sites such as Lending Club or Prosper.
4. Your Career
Why focus on building someone else’s business and dreams when you can do it for yourself? If you’re the “model employee” of your current job/business, why not start your own company? Invest in yourself and not in another person’s goals and dreams.
Of course, there are benefits to having a steady career, such as guaranteed payments every two weeks (assuming the business doesn’t fail, or there is downsizing). But then there are benefits to being your own boss, which can potentially bring in more money for you.
5. Your First Side Hustle
To follow up with building your career, the best way to get started on your own business is to invest in becoming a freelancer during your free time. Don’t just up and leave your job and venture into the realm of entrepreneurship, but do start making the moves to leave. The best way to do this is by merely freelancing in your downtime so you have the money to invest in your new business idea.
6. Your Health
This is crucial: your health. What many of us who begin the grind fail to take into consideration while building and investing in our businesses is our health. This is especially true for women. If you’re working hard at your career, as well as with your side hustle, you’ll need to focus on your health. Invest in seeing a doctor for a check-up at least every six months.
7. Paying off Debt
Finally, pay off your debt with any extra money you may earn. Don’t spend it on buying new things or taking a vacation. Once you’ve built your business and have that recurring income coming in, then you can take that vacation and feel good about it.
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