Its a few weeks since we celebrated New Year and many people are busy coming up with the best financial plans for 2019. Getting your finances right is one of the big changes most people plan to make each year. Maybe you feel like 2019 is the best year for you to start focusing more in long term investment. According to Financial Advisor San Diego, many people take time-saving and end up building up a good sum of money however this is not enough to secure your financial future. If you are new or clueless about the investment sector, you might find yourself wondering which is the best place to invest your money in. but don’t worry this question is asked by even the pro investors, not just the newbies in investing. However it’s important to note that there are some factors which will play an important role in the returns you get from your investment, nevertheless below are some of the investment options available for beginners and even the experts in investment.
- The Stock Market
When talking about investment opportunities, the stock markets always tops the list as one of the viable investment ideas. Those who have been following the current updates in the stock market definitely know that there is a correction coming along in the near future. When considering the stocks you need to decide the time span of your investment, are you looking for a short term investment or a long term one? Coming up with an investment philosophy when dealing with the stocks is important, this will help you in keeping track of your emotions when investment is involved. With stocks, you have the option of buying individual stocks or the low-cost index funds that are globally diversified. If you feel like you are still stuck with all those numbers and data, then you can look for a Financial Advisor San Diego to guide and explain to you how the stock markets operate and how to invest in the stocks. Just like any other investment idea, make sure you don’t involve your emotions and that you are well informed and updated on the latest information in the stocks.
- The Real Estate
One of the booming economic sectors is the Real estate. For many years there has been a trend of the prices in the real estate going up, which many financial experts find worrying in the long run. However, this doesn’t seem to worry the real estate investors who continue buying properties. Let’s assume that the real estate market tanks, this doesn’t mean people will stop looking for places to live. With real estate, you have the option of investing in physical real estate properties or the REITs (Real Estate Investment Trusts). With the REITs, you have an opportunity to fully utilize the real estate market without getting your hands dirty. This means you don’t have the hassles faced by landlords. There are real estate crowdfunding websites which give you an opportunity to invest in the notes and shares available in real estate. However, you should do more research when it comes to investing in the real estate crowdfunding websites.
- Peer to Peer Lending
In the past peer to peer borrowing of cash was very informal, however, over the years, the peer to peer lending has gained more popularity and acceptance and even allowed legally. There are even platforms which give an opportunity to lend money to people, and you get y an interest from your money the same way a bank does. But the returns you get vary depending on the risk associated by the loan. The lending platforms will not subject you to the unfortunate event of lending money to someone and then they disappear with your money. Instead, these platforms spread your total investment over thousands or hundreds of people. These platforms require different minimum capital investments ranging from $25 for Prosper and $1000 for Lending Club.
- Your Career
One of the best investments one can make in the 21st century is investing in boosting their career. Despite the many changes we face in the economy one thing you will forever have control over is YOURSELF. Investing in your professional life and future should among your priorities each year. Investing in your career gives you an opportunity to earn more income in the future. Look for any certifications or improvements that are available in your industry that will make you more useful and indispensable. If you increase your value then your worth (salary) will also rise. This year look for content that is more career specific and utilizes, learn new skills and even take new courses if possible. This will take time and effort but once you are done you will have more authority in your field and profession, even gain more trust from clients.
- A side hustle
Additional income will definitely boost your financial portfolio. You can focus on the ways in which you can make more money this year. Maybe you have been waiting for that raise and promotion that never seems to come, your best shot at increasing your net income would be to get a side hustle. A few extra dollars can help you achieve many financial goals that you have put on hold. Thanks to the internet there are many side hustles or jobs that you can do in your free time. If you have excellent skills in writing then you can consider taking up freelance writing during your free time. Websites like TaskRabbit gives one a chance to earn money while running errands for people. You can also turn your passion into your side hustle. Many people are making money from their hobbies and passion. You just need to come with a plan on how you can turn your passion into a money-making business venture.
- Your health
Many people forget the importance of living a healthy life. You only have one body and it’s the one being used to earn income, therefore it’s very important that you give utmost importance to your physical and mental health. Spend time and money into making sure you are eating healthy, you are living an active lifestyle and that you get frequent checkups on your health. For one to have a healthy life both mentally and physically, you need to make sure that you are healthy and happy. Avoid any stress. Working out will help you with stress relief and also boost your physical fitness and health.
Make 2019 a year of wise investment by taking into consideration these investment options.