The beginning of the year is often the best time to draw your investment goals and review the year gone by. Although the past year is gone, reviewing what happened in the previous year will help you know where you got it wrong. With proper direction and renewed motivation, you can now begin to figure out what you will do in the present year– 2020.
So what are the best investments to make in 2020?
Invest On Yourself
For me, there is no better investment than one made on one’s self. In 2020, you should invest in yourself or stand the risk of being left behind by your peers. By investing in yourself, you will be able to stand the test of time. Everything is changing, there are new developments every day and by investing in your knowledge base, you stay abreast of happenings in the world and retain your relevance among friends, family, and colleagues at work. There are two ways through which investing in you will be beneficial.
- Investing in yourself by acquiring the right skills or getting the right certifications or accreditations can help you further your current career
- Secondly, investing in yourself by learning new skills and getting new accreditations and certifications will help you get into new fields.
Not investing in yourself will lead to stagnation and that can’t be a good thing especially as companies these days constantly change their demands and should your company find someone more qualified than yourself, you are most certainly going to lose your job. Most business owners want and value their versatile staff. It is no longer enough to be hardworking, honest and trustworthy, you need to have all of the aforementioned as well as versatility.
Thanks to the internet, you can now acquire skills and certifications right from the comfort of your home. This is because there are now online courses, colleges, and programs that you can sign up for to better yourself in 2020. It is, however, important to be patient with yourself, learning new skills, tricks and acquiring new certifications and or accreditations will require a lot of time, effort and monetary investment. Learning new things is certainly never easy and sometimes never cheap but it will pay off in the long run.
Stocks and Shares
Energy stocks were battered seriously last year but our guess is that they are unlikely (and this is not a suggestion that you should buy energy stocks) to go down further than they went last year. Aside from energy stocks, there are many other stocks you can invest your money on in 2020 that will bring good yield, you could hire a stockbroker to advise you. Some stocks yield monthly dividends, and investing in stocks that yield monthly dividends is the way to go in 2020. In 2019, the stock market generally ended on a 29% gain unfortunately many stocks are already at their peaks and could start crashing, therefore, you must ensure you look out for those that are not likely to crash this year. For instance, many energy stocks were at their 78-year low last year which for me is an indication that there is money to be made by investing in them. They are very unlikely to go lower than they were last year
Get a Second/ Side Business
The skills you have learned above can be used here. Aside from learning new skills, you also need to invest in a side business this year. By getting a side business or hustle as some will call it, you are basically getting yourself a shock absorber from the sack. If you have a side business, should your company sack you, you will have something to fall back on pending when you get another job or decide to go self-employed. For instance, you can learn how to make money online. You can learn graphic designs, video editing and more complex and profitable ones like programming and web designs. You could also become a freelance writer. There are many freelance sites out there who are looking for content providers, video editors, graphic designers and what have you. You could sign up for some of these sites. And if you know nothing about freelancing, you can learn by reading articles online or by watching videos on video sites like YouTube.
Invest in Real Estate
Real estate is still regarded as one of the safest and most profitable businesses in the world. Real estate many times generates returns for you that are not comparable to other types of investments. The good thing is you no longer have to be an expert to invest in real estate. There are real estate companies out there who will take your money and have it invested for you. These companies are known as real estate investment trusts. There is also the option of investing in turnkey real estate properties. A turnkey real estate property investment is basically investing in properties that are ready-made, basically, you buy properties that have no repairs and then have them rented out.
This article is not compelling you to invest your money in any market, what we have done is to point out areas you can harness in 2020. Whatever you decide to do is left to you. But whatever you do, ensure that you do not make judgments without first considering the pros and the cons of the possible outcome of your decisions. We wish you the best of luck in 2020 and beyond.