Trading since July 2006; Master's Degree in Quantitative Finance | Trade Stocks, ETFs, Options, Futures, and Forex | Invest using ultra-low-cost ETFs and mutual funds | 6 figure passive income from dividends
Talk to yield street.
Yieldstreet has structured and financed various non traditional deal like:
-debt and equity RE deals
- mezzanine financing
- Art finance
- Motorcycle loans
So they can handle whatever you throw at them.
I have been investing through them for my passive income portfolio.
I have personally invested in multiple startups.
If you have a decent sound business plan...quickest will be to be use one of the crowdfunding platform.
Micro ventures, Start Engine and Seed Invest are some of the platforms that I have used. Microventures will be at the top since they have had dropbox, docusign, lyft, airbnb, uber, slack, spotify, plantir, redgin and many other BIG names
You can decide to structure how you raise funds based on revenue sharing model or equity.
There are tons of ways and you have to start without worrying how it would end. Also i am giving a very general answer since I do not know anything from your background.
Few things you can choose from:
1. Real Estate: Learn how accounting works for real estate and how you can buy properties without any cash. Learn how you can partner with someone for equity deals. Learn how comparable work and how big multifamily deals are funded. Learn about how whole sailing works. You can also do apartment referrals to start making some money.
2. Stock market: First figure out the scam and open a small account and learn how to trade stocks. Do not lose big. Start small and lose small. Understand the psychology of traders who are taking other side of the trade.
3. Get education in a high paying sector. Currently it is either in coding or in some kind of handyman job (plumber)...do a bootcamp to start earning income and start saving some money for real estate deals or stocks. Note there are coding bootcamps which do not charge any money and you pay them based on your future guaranteed salary.
Of course I have not listed 1000's of other was you can make money!
In halal investing you can not make profit from debt and therefore bonds and CDs (or GICs) are not allowed.
I am surprised the the 85% of mutual fund has unknown holdings.
It would be better to invest in a mutual fund where you know that 100% allocation if given to companies (equity) and not debt.
You might also want to consider moving your RRSP to another provider like interactive brokers or Questrade.
There you can invest in equity ETFs (which are much lower costs than mutual funds in general) or just directly invest in stocks.
Disclaimer: This is not financial advice.
Few ways I have done it which is really passive (means not even managing anything)
- Hard Money Loans and Equity deals of Real Estate
- Other kind if diverse loan types again where someone else is managing the serving collection and legal work
- Getting land (since it doesn't require much management) and selling for profit or renting for agriculture
- Of course Investing in dividend stocks is the most common and most preferred day
- Investing in stocks along with conservative option writing strategies.
- CDs and bank interest - but currently its very low but just few years ago you could get 3% for 5 years
- investing in precious metals - it doesn't generate any income but can be sold for capital gains - look at a gold chart of 20 years!
Of course I might be missing multiple other ways that are possible.
I believe you mean Robinhood.
Charles Schwab is a old traditional brokerage which Robinhood is more marketed towards 20-30 year olds.
Robinhood has clean simple interface...so its very easy for newbies to trade. but that also mean easy to make mistakes.
I have Schwab, Robinhood among other brokers like Interactive brokers,
With Schwab you will find a higher level of customer service.
Commissions are zero for stocks and ETFs on both the platform.
-Robinhood also has a crypto exchange while schwab does not
-With Schwab you can buy bonds, CDs, mutual funds and with Robhinhood you can not.
also whether you purchase stocks from robinhood or Schwab it means the same thing...you are the owner of those stocks.
It depends which country you are from. It is best to not go to a deep discount brokers just because their commissions are the lowest.
For example, in US/Canada commissions for interactive brokers are the cheapest but that does not mean that you should actually use interactive brokers. It is just not meant for beginning traders.
In US/Canada commissions will range from 0.99$ per trader to $19.95 per trade.
If you choose some broker with around $5 commission per trade then their platform will be more user friendly then the ones with deep discount brokers.