Want to know what the 5 best investments for a 30 year old are? There are some cheap, free, and somewhat affordable ways to do this whether online or offline. And investing doesn't have to be expensive. Get started with a limited amount of money each month.
- Bonds. You are letting the government borrow money from you. In return, on top of the amount they borrow from you. Here's where it gets good—you get extra money in the form of interest—the earlier you buy a bond, the more time it has to accumulate interest making it one of the best investments for a 30-year-old.
- Businesses. It doesn't matter what business you own, there is a huge potential to gain lots of money by investing in businesses if you put in the time and effort. Starting young—like when you've just turned 30—will give you a lifetime to reap the rewards.
- High Yield Savings Account. There are many banks to consider before getting started by investing in this plan. It is one of the best investments for a 30-year-old because the interest that is earned on the account each year cannot be touched until a future date.
- 401(K). If you are currently an employee at a company that offers this option, take advantage of it since more than likely, they would contribute half of what you put in each year. But if you are not going to work for someone for at least a year, you can forget this option since it would be a waste of money by working short term for someone. However, if you work at the same company for at least a year or two, it would be wise to invest this retirement option.
- Roth IRA. This plan makes it easy for anyone at any age to get started on investing no matter how old they are. Do not put this off even if there is a cap on how much you can contribute each year. It is one of the best investments for anyone since you are using your after tax dollars and won't pay any taxes on the funds you withdraw from it.