No matter what… grow!
I am not a financial adviser and this is not financial advice. This is just random thought from a random guy on the internet.
I don’t think there is a “best investment”; everyone is in a different stage of life and needs different kinds of investments accordingly.
If you are elderly safe and reliable investments are essential.
If you are young you want something that has long term gains and you can afford to ride the ups and downs of the free market.
If you are in between then you need a mix of both.
I also think that you should never invest in something you don’t understand. If you are using a financial adviser to guide your decisions you should still make sure you know what he is doing and why. I am a huge fan of Bitcoin but I would never tell someone to buy it without doing some research and understanding it’s value. I think real estate can be a great investment but if you don’t know how to fix a house or atleast manage people it could be disastrous.
Do what you understand. If you don’t understand any investing these things:
- Find a financial adviser you trust.
- Find something you are interested in and then educate yourself. Don’t expect to master everything but choose one type of financial asset and focus on it. But don’t buy any of it until you have put in at least 100 hours learning about it and don’t think of yourself as knowledgeable until you have put in thousands of hours of study. Don’t choose something because it’s popular choose it because you are interested in it and think you may have a knack for it.
- Diversify your investments. Just because you are an expert in one type of investment doesn’t mean you should put all of your money into it. Use your financial adviser and have your money into a variety of investments. This will protect you from single market failure.
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