Did your New Year’s resolution include achieving financial security? If it’s not on your list, you should consider adding it because 2020 is a great year to start planning your future and make some long-term investments into a safer tomorrow.
While no investment is without risk, having the right information and educating yourself can mitigate that. One of the most important factors to consider when planning your investment is diversification, and here are some of the best options for 2020:
5 Best Investments to Make in 2020
This metal has been one of the most stable investments throughout the years and there are many good reasons why. First off, unlike paper currency, gold has maintained its value throughout the years. It’s not subject to inflation and therefore maintains it’s worth even though times of crisis.
While it’s true that gold does not give any interest, it’s still better than just having cash around as money does lose value over time. Also, unlike regular currency, gold is a metal that has value on its own and therefore won’t be affected by drastic economic changes.
There are many ways to accumulate gold, starting from simple jewelry to gold coins. But the most cost-effective way to make large investments is through gold ETFs.
2. Investments in Real Estate
The real estate market remains one of the most popular with investors to this day. There are many reasons why, but the most important one to consider is that people always need a place to live. No matter the market conditions, having a home is always a priority. In a time of crisis, prices will go down but investing in real estate is not only about buying low and selling high.
Property can always be rented out and therefore provide constant income to their owners. And of course, all the while you can wait for the right moment to sell your property once the prices go up again, which they always do.
The most important factor to consider when buying real estate is location. While a lot of the factors go into determining the value of your property, its location never changes. That’s why it’s usually a decisive factor when it comes to the price.
There are, of course, a lot of other things to consider as well. Therefore, it’s always a good idea to get property investment advice. The right professional can save you a lot of money and unnecessary frustration.
Bitcoin has made a real boom last year and completely changed the way we look at money. However, it is not the only cryptocurrency on the market as there are a lot of options to choose from, so keeping yourself informed is very important.
The prices of most cryptocurrencies have decreased significantly from the initial hype, and they have all become much more stable, which is why this is the right time to invest.
The risks of high fluctuations are gone and investing in cryptocurrency has become less about speculations and more about strategy.
The blockchain is the technology behind cryptocurrencies, but it has a lot of other applications as well such as smart contracts, financial services, gaming, security, and many others.
It’s a truly revolutionary technology that will change many aspects of our lives and that is why learning about it now and investing is a good idea towards financial stability in the future.
4. Peer-to-Peer Lending
Peer-to-Peer lending is an old concept that recently started becoming more popular, and the trend is sure to continue in 2020. The idea behind it is simple; using online platforms, you can loan money to other individuals.
Just like a bank, you receive interest for the money you invest. The rates are very attractive and range from 6% and upwards depending on the type of investments you make.
This investment opportunity is not without its risks but it’s still relatively secure as instead of making one huge investment you can spread your money across a lot of different individuals.
You get to choose between the ideas that are most engaging to you, and the people that seem most trustworthy, that way you have more control over your money.
The future might bring a lot of uncertainty, but one thing that will always be there is you. That is why investing in yourself is one of the best investments that you can make.
When thinking about your future, it’s important to keep two things in mind: your knowledge and your health.
Investing in yourself means constantly improving your skills. Figure out what you are good at and get even better at it. The most important thing is passion; if you enjoy something, you are more likely to get good at it.
But you should also be open to new ideas. Try out new things once in a while so that you can learn more about yourself and the things that you are good at.
The best thing about investing in yourself is that it’s cheap, you don’t need a lot of money, all you need is time. Of course, actually paying for a good education and some courses can go a long way.
The only way to secure financial security is to start working on your future now. These are some of the things that can help you achieve that goal but only if you take the time to educate yourself.
Remember to diversify. Don’t get caught up on a single idea, but instead stay up with the latest trends and find the investment opportunities that are best aligned with your knowledge and skills.
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Author Bio: Mike Johnston