The Best Investments to Consider Making This Year
Have you taken a look at or reviewed your investment strategy recently? If you have been investing for a while, you know how important an annual or bi-annual review is. However, if it’s been a while since you have done this, now is the time to do so. It’s also time to create a long-term strategy for your investment efforts.
In addition to reviewing what you are doing now, you also have to consider what you should do throughout the year. If you want to make your money work for you, it means careful planning. To ensure you make the best investments in 2020, consider some of the investment opportunities that are listed here.
Since it was first introduced in 2010, Bitcoin was the first digital asset to start the trend of an entire ecosystem of various cryptocurrencies. In the beginning, it grew slowly, but today, its popularity is growing quickly. The key to success when trying to invest in cryptocurrency is to take steps to diversify your risk. This means investing in various cryptocurrencies that have been pre-vetted by industry pros. Treat it like you would your index funds or your 401k account. Once you have made this investment, you can even use some of the new tech innovations in the Bitcoin realm, such as a Bitcoin ATM in San Antonio Texas.
There’s no question that 2019 was an interesting year for the stock market. In fact, the market was up by about 29 percent for the entire year. It is pretty difficult to argue against this type of success. As a result, it’s a good idea to keep a substantial part of your portfolio in the market, especially an index fund that is tied to the S&P 500. Remember, though, while no bull market is going to continue on forever, this is one that isn’t showing any signs of slowing down.
REITs – Real Estate Investment Trusts
When it comes to smart investments, real estate has been at the top of the list for a while now. In fact, it offers returns that are comparable to the S&P 500 if you look at the long term.
However, owning various properties is going to be both an occupation and an investment – so make sure you are ready for this. You should also remember that purchasing individual properties is something that requires a lot of capital. If you want to invest in real estate, but you want to avoid having to get your hands dirty or putting your life savings at risk, then consider a real estate investment trust.
Make an Investment in Yourself
There are two different ways you can make this investment work for you. Acquire new skills or a new certification that will help you in your current career, or you can get new skills and certifications that will help you break into a new career. One of the primary reasons people become stagnant in their existing jobs is because they don’t have the qualifications needed for advancement. By investing in these new skills, it is possible to advance or get a new job, which can lead to higher pay and other benefits. Thanks to today’s online and connected world, you can even learn these new skills via YouTube.
Invest in a Side Business
Did you know that approximately 25% of all Americans currently have some type of side business? This proves that it is becoming more and more common. What’s even better is that now is your opportunity to do the same.
If you want to make a smart investment this year, there are more than a few things that you can do. Consider the options on this list to find an investment that makes sense for you and that carries the level of risk you are willing to take. By doing this, you can have confidence that the investment you make will be worthwhile now and in the future.