What is investing?
Investing is doing something with your money other then letting it sit in cash.
Investing is not buying real estate at inflated values nor is it purchasing unregulated crypto currency at values with no understandings.
While many people may dislike these comments, I think it may be safer to buy hockey cards and flip them down the road. Take a look the the Wayne Gretzky rookie card that sold for a million. You may be able to get the same value for the Conner McDavid card in 50 years (if you don’t croak by then).
Anyways, with inflation increasing in the coming years, you will want to find an investment strategy that beats the increased prices of goods and services.
Getting your money to do work for you. Simple as that.
- Purchasing equities and bonds with your hard earned cash is probably the best ways to invest your money. Once you start an investment account with your bank, you can buy shares of companies to grow. You can also buy debt issued by the government and receive yield payments annually. Having a balanced portfolio with a broad selection of companies is highly recommended. I explain this in how to invest your money safely. If you want to know the differences in stocks and bonds, read this.
- Making smart real estate purchases. Leverage other peoples money to buy properties you desire. If you purchase a home, you must use the banks money in a contract of a mortgage. With rates locked in for 5 years under 1.5%, its free money. Its less then inflation. Why tie your money up when you can safely invest it in stocks and bonds at a 6% return. Lastly, When you buy the home, try to get it 10% lower than market value. Make sure you it can generate multiple revenue streams by having multiple tenants. This is a lot more work than 1. but if interests you, look at the proper ways to make money in real estate
- Invest in yourself. Make sure you invest time and money into your desired endeavours. Working on things that give you enjoyment and satisfaction . Whether it is writing, carpentry, design, etc, if you enjoy it, there is no greater price to to pay than to be happy doing what your doing. Lastly, most of these hobbies can be monetized. Whatever interests you, take a look to see if you can generate revenue by having fun.