Five Places to Invest in 2020
With the turn of the new century re-evaluating personal investments is on the list of everyone. And there’s a reason for that – everyone wants to reach financial independence and have control over their money.
But building a portfolio that brings you passive income isn’t easy and it often requires you to plan it and put in a lot of work to achieve.
So, where do business-savvy people put their money into? Well, we’ll go over five places where you should consider putting your money into in 2020 and beyond. Ready? Let’s get into it!
Consider investing your money into a rental property.
One of the best places to invest in is real estate. And even though the market is currently a bit unstable, some of the biggest investors right now are heavily purchasing a property in order to ensure positive income in the near future when things will be back to normal.
So, fire up your computer and check out properties for sale near you. If you have some spare savings and you’re wondering where to put them, why don’t you put some money into a self appreciating asset that constantly brings you money in the meantime?
And the best thing is that if you know how to rent out your place, you’ll most likely have to put minimal maintenance in the place.
Fintech companies are about to boom.
Fintech has been at the forefront of innovation for the last couple of years. And there’s a reason for that! Banking is a sector that is currently experiencing a large amount of innovation and there’s plenty to come. With fintech companies creating things like instant transfer of money, no-fee transactions and online banking that actually works, investing your money in one (or a couple) is a savvy decision.
But don’t forget about cryptocurrency.
Cryptocurrency is the future of how we use money, and more importantly, the way currencies will be. With even transfer and deposit from Skrill to Bitcoin and more and more fintech companies, and banks are embracing this technology.
Given that it’s still new and innovative, sooner or later it will start to catch up, and as all great investors know, it’s always better (and cheaper) to invest when the technology is still early, in order to capitalize on it once it goes worldwide.
But maybe you should focus on paying off your loans.
Focusing and putting money where you should is more important than ever. Why don’t you set the next year to pay off the majority of your loans? Not only that you’ll be loan-free, but you’ll also have increased your credit score and basically will have everything you make for yourself.
So, make the plan, put in the work and invest in paying off whatever you own.
So you can later invest in yourself.
Improving your skills and becoming a better professional is one of the best things you can do. So if you’re looking for a place to spend money, why don’t you invest them in yourself? Find courses and books in the field you want to specialize in and start putting in the work.