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The stock market has been steadily rising for the past 10 years. However, as the cost of stock plummets amidst the COVID-19 pandemic, many people are asking if they should invest in the stock market right now.
Ups and downs are just part of the nature of the stock market, but if you’re hesitant to put much money into stocks, you do have other options for investing in 2020.
If you’re wondering where to invest now, try taking a look at these 3 hot investment trends of 2020!
1. Real Estate and REITs Are Where It’s at in 2020
Real estate has always been a coveted investment. Investment trends of 2020 show that it’s not changing anytime soon.
That’s cool, you say, but what if I don’t have the money to buy an investment property right now? I can barely afford to pay my own mortgage!
Alternatively, maybe you do have the money to invest. You’re just not able to put in the time and energy that’s required to be a landlord.
The great thing about real estate investing in 2020 is that you don’t have to buy an actual piece of property to start investing in real estate!
REITs are like mutual funds, except that the various assets in the trust are actual pieces of property. When you invest your money in an REIT, you are becoming a partial owner of the properties that are part of the trust.
When the stock market is unsteady, REITs provide another strong investment source. People will always need a place to live.
2. For the Highest Returns, Pay off Your Debt
When you think of investing in 2020, you might not think of paying off your debt as an investment. However, paying off your debt might be one of the most important 2020 investments you make.
Think of it this way: the average credit card charges between 15% to 25% interest. If you’re making payments on an outstanding credit card balance, that means you are losing approximately 15-20% of your money with every monthly payment (depending on your card’s interest rate, of course).
Before you make any other investments, pay off that debt. It’s the highest return you could get on your money.
3. Where to Invest Now? Yourself!
We’re not being cheeky here. Choosing to invest in yourself is probably the most important financial decision you can ever make.
That doesn’t mean that you should book a million-dollar vacation in the name of “self care” or “investing in myself in 2020!” We’re talking about putting your money towards acquiring the skills and certifications that can move you forward in your career.
If you want to be a top earner in your industry, you need to first be a top learner in your industry. Whether you want to move up the ladder in your current job or you want to switch to a new career altogether, you need to be willing to invest time and money to make those moves.
Find what’s lacking in your skill set. Then find a way to fix it.
You’ve got a few ideas of where to invest now, but sometimes, it’s just best to trust your instincts. Check the facts, then make your money decisions based on what’s best for you and your situation.
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