The world has changed dramatically since 2019, before the COVID-19 pandemic took hold and caused economies around the world to shut down. But now that things are picking up again, it is time to prepare for the future better. If you found yourself struggling during the coronavirus pandemic lockdowns of 2020, perhaps because you didn’t have enough cash saved up, it may be time to think about how you can wisely invest the money you have so it can grow and be there for you in the future if something similar were to happen again.
HotForex put together this interesting infographic, which you can view below, to showcase some of the top assets to consider investing in if you want to work toward growing your savings in ways other than keeping your money in a savings account at the bank. So, what are some of the highlights from this infographic? We discuss them below to give you an idea of the investment possibilities that are available.
You probably guessed that trading stocks would be on the list of ways that you can wisely invest your money. This strategy does come with a good amount of risk, but it also comes with the possibility of getting high returns, so a lot of people immediately turn to the stock market when they are ready to watch their money grow.
According to the HotForex infographic, the USA30 saw a 96% rise since March 2020, the USA500 saw a 105% rise since March 2020, and the USA100 saw a 128% rise since March 2020. Also, businesses like Tesla and Amazon saw a lot of growth because of the demand for their products and services.
Trading in the Forex Market
Economic recovery around the world has definitely been good to see. And if you are ready to take some of your money and invest it, you might be ready to get into the forex market, which might be less risky for you than the stock market.
With forex, you trade currency pairs, so it’s a matter of watching trends closely to try to figure out which currencies will rise in value versus which ones will decrease in value. If this sounds complicated, don’t worry. There are platforms like the MT4 download for PC, which is easy to install and use right away, to do things like stay on top of news and trends, make trades, and more.
Buying Gold and Commodities
When it comes to ways you can hedge against inflation, buying gold is a go-to strategy for a lot of people. That’s because gold tends to retain its value, as well as appreciate in value, over time.
If you’re concerned because the value of your currency has been going down or the prices of goods and services have been going up, taking some of your cash and using it to invest in high-quality gold might be just what you need to do to gain some extra peace of mind that you’ll have an asset that will be worth something in the years to come.
There you have it: a few ways that you can invest your money today so you can take steps toward ensuring you will have much-needed funds in the future. So, rather than just relying on your bank account, consider the tips above too.