Best Ways to Invest in 2021
Don’t fall into the trap of thinking that investing is reserved for the already rich.
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So don’t ask yourself whether you should get involved — try to figure out the best ways to use your money.
Anyone with a healthy savings account and enough income to set aside a few dollars each month can afford to invest.
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I’ll break things down into five questions you should be asking yourself:
1.
What are your financial goals?
2.
What’s your investment timeframe?
3.
How much risk are you prepared to take on?
4.
Do you want to select your investments yourself?
5
.
What type of account is right for you?
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When you buy a stock, you essentially become a shareholder of that business.
Stocks
Best for: Longer timeframes and higher risks for higher returns.
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Funds let you invest in a mix of different company stocks, therefore offering increased diversification.
Mutual Funds
Best for: Longer timeframes and lower risk.
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Bonds are essentially loans, with the borrowers usually being the government or large companies.
Bonds
Best for: Shorter timeframes and lower risk.
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Properties have inherent value — people will always need somewhere to live — so their prices will generally increase over time.
Real estate
Best for: Portfolio diversification and stable returns.
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This certainly isn’t an option for the faint-hearted — it’s no secret that the crypto market is somewhat wild.
Crypto-
currencies
Best for: High risk and high returns.
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