Sell Or Stock Up? 5 Tips For Assessing Investment Opportunities During The Pandemic
Investing is a great way to get ahead and earn some (mostly) passive income. Setting it up, however, isn’t always fun. You need to do your research or you stand a very real chance of ending up out of pocket. The good news is, the current economic climate is ideal for many investment options. That’s why we’ve put together this guide for assessing opportunities during the pandemic.
Commercial property investment tends to offer more stability in rental income than its residential counterparts as businesses are less likely to move. This makes them a solid investment option for those looking to make a more secure long-term play.
Assess any opportunities with the help of a real estate professional. They’ll be able to help you figure out whether commercial property is for you, and if so, which property best aligns with your current situation and future goals.
While owning gold and silver won’t necessarily bring you immediate gains, it is a great way to preserve the value of your money if you’re looking for a little less risk. Professional sellers often offer storage alongside your purchase. This removes the hassle of having to manage your precious metals yourself.
Because the value of gold and silver tends to rise with inflation, you won’t lose value like you would with your money sitting in a low-interest savings account. Precious metals should be assessed based on accessibility, whether you can store them safely, and whether you want to grow, or simply protect, your money.
Speaking of savings accounts, there is one that you should invest in – an emergency fund. Although this won’t net you the largest growth to your wealth, storing adequate funds to get you through a rough patch is always a good idea.
This is even more important right now because of the instability within the world economy. Find the highest interest savings account you can, and do your best to park at least three to six months’ worth of expenses in it.
The Stock Market
Although volatile, the stock market almost always provides decent returns if money is left in there long enough. With the pandemic causing stock prices to plummet, now could be a great time to get into the market. We can’t tell you which particular companies to buy into, but if you do your research, you’ll be sure to find ones that match your goals and values.
If you’re serious about getting into the market, you can opt to educate yourself and improve your financial literacy or seek the assistance of a financial advisor. For those who’ve already dabbled in the market, please don’t sell unless you have to – you’ll be in a far better position if you can ride it out.
Although tangible investments are great for building wealth passively, the value of investing in yourself should never be underestimated. The stronger your skill set is, the more opportunities you will have. Over time, this can lead to exponential growth in your active income, giving you more opportunity to build passive income streams. In other words, investing in yourself is always a good idea.
An emergency fund and self-investment are both strongly recommended, no matter who you are or what stage of life you’re in. The others will require a bit more investigation to work out whether they’re right for you. As long as you come out the other side of this pandemic with your health, you’re a winner, but that doesn’t mean you can’t get ahead financially. Happy hunting.