Tired of working your 9 to 5 job, and dream of spending your life as an early retired person traveling the world? Well, then the answer to your dreams lies in investments. Not understanding the power of investments, people labor throughout their whole lives without generating a strand of wealth. When utilized with passion and strictness, this power can help you increase your money by massive numbers.
Most people that want to invest their money are confused as to where they should invest, some invest in fake schemes and lose their hard-earned money, while others think that investing isn’t something made for the common man. However, you don’t have to worry, since we have brought for you the 5 best places you can park your money and get great gains. So let’s begin!
- High Yield Savings Account
If you are someone with the smallest knowledge about the banking sector, then you probably know about savings accounts. Once you open this account and deposit your funds, the bank uses this fund to invest in multiple money markets such as the stock market or the forex market.
After a decided amount of time, the bank transfers the (decided gain) into your bank account. Now this gain is measured in % and is directly proportional to the amount of money in your bank. The gains on your savings account are guaranteed and there stands no chance of losses making it the safest investment option.
- Government Bonds
What’s one organization you can trust to be standing firm 30 years from now? Well, obviously the government. While newer ones may come in, the existence of the system will stay intact. This is what makes government bonds another safe investment.
Whenever a government wants to decrease money flow in the markets or wants to fund its project. It takes up a loan from its citizens, now these loans have a due date of years at end, but they promise steady gains.
Investing in private bonds might give you a higher rate of return, but the security and safety offered by government bonds is immeasurable to the investor.
- Dividend Stock
Want your bigger currency notes to make penny babies? Well, then dividend stocks are your way to go. These are company stocks/shares that give off the residual annual income depending upon the amount of ownership you have in that particular company.
To simplify this let’s think that Company X just has a total of 100 stocks and you own 1 of them. Company X this year made a profit of $200. After paying all of its expenses, the company is left with $100 dollars to distribute amongst its shareholders. Now since you are one of the 100 shareholders, you will get $1 as a dividend.
While this is the simplest dividend explanation we could think of, there is a lot more to this and we would recommend you do a lot of research before investing your money into dividend stocks or any other stocks for that matter.
- Gold Bonds
Imagine there exists a substance that’s limited in amount and will eventually be finished, you might expect people to go wild over it until its price reaches sky high. This is exactly what gold is, for years gold prices have soared above the value of currency making them the perfect investment option if you have some cash to spare.
But how do I invest in gold? Do I buy jewelry or gold biscuits? Well, buy neither of them since you can simply buy gold bonds. Gold bonds are nothing but a gold on paper since they are parallel to gold and each time the value of gold rises or drops, the value of gold bonds also rises or drops.
- Cryptocurrency
While this may sound like something that shouldn’t be included as an investment option since massive investment experts criticize the crypto markets. However, what’s important to note is the fact that cryptocurrency has grown massively over the last few years.
People who have intelligently studied the markets have become millionaires because of it. If you think that you have the patience and energy required to learn crypto and all about its investments then we definitely suggest you take a look into it.
Read more:
How Much Money Do TikTokers Make? Forbes Listed Highest Paid TikTokers Of 2022
10 Proven Strategies To Make Money With Cryptocurrency In 2022
9 Best Online Jobs College Students Can Do To Earn Money in 2022
Making Money Online, Offline & at Home Simplified: Easy Ways
Hacker Leaks Data of 42,064 Karachiities Through a Retail Website