Investing your money might not be the first thing that comes to your mind if you are still struggling financially because of the pandemic’s effect on the economy. Even if you aren’t unemployed, your job security might be far from ideal, and you might have plenty of doubts and worries about the future.
However, once you feel that your financial situation is somewhat more stable, you should know that now is an excellent time to invest some of your money. Sure, you could check out how to buy large amounts of Bitcoin, but there are other options available to you as well.
In a moment, we’ll share with you the top nine lucrative investments that could help you multiply your wealth.
Oil and Gas
Oil and gas are among the most lucrative investments you can make right now, even though they are highly volatile. If you go for oil, you should focus on shale oil rather than standard oil production because it’s more difficult to extract.
Shale oil is extracted by fracking, which is a technique that allows extracting natural gas and oil from otherwise unproductive locations. The main downside of this investment is that it requires considerable amounts of money, but modern technology and methods have made it much cheaper than before.
Invest in Solar Energy
Solar energy can bring you greater profits than most other investments on this list. The price of solar panels has fallen dramatically in recent years, but there’s still room for improvement. As the world becomes more conscious about climate change and tries to decrease its carbon footprint, people will increasingly turn to solar energy. While investing in solar power might not be as lucrative as investing in oil and gas, it will certainly bring you substantial profits over time.
Safer Internet Investments
Most people associate online investments with high risks and little rewards, but that’s not necessarily true. You can invest your money in safer internet investments that offer good returns, such as Amazon or Apple. These companies have been around for decades, they have stable businesses, and they probably won’t fold anytime soon. While there’s always a risk of something going wrong, these investments can definitely become lucrative over time.
Dividend Stocks
Dividend stocks are another great way to invest your money safely and enjoy steady dividends over time. You should focus on stocks that pay out steady dividends. For example, you can invest in AT&T; the company has been around for more than 120 years and has paid out regular dividends since 1876. Many other stocks that have been around for decades and pay out healthy dividends are also good investments.
Gold or Platinum Coins
If you have some spare money lying around, you should consider purchasing gold or platinum coins. These investments are quite safe because their value tends to rise over time, especially if you buy coins that are rarer than others. However, it’s important to note that gold is not necessarily a good investment overall because its price is highly volatile.
Hard Assets Instead of Paper Assets
If you want to invest money without taking too much risk, you should invest in hard assets instead of paper assets like stocks and bonds. Hard assets clearly hold their value better than paper assets, especially during times of economic crisis like this one. Therefore, if you want to multiply your wealth while taking relatively little risk, you should invest in gold or platinum coins rather than stocks or debt instruments like bonds.
Stocks
Investing in stocks can be very profitable, especially since some of the top companies in the world are currently trading at 10-20% lower than their all-time high.
There are plenty of opportunities for you to invest in stocks and make money. And when it comes to stock investing, there’s one golden rule you should always follow – never invest more than you can afford to lose. Most people think that investing in stocks means they will become rich overnight, but that’s simply not true. Investing in stocks requires patience and discipline. In other words, if you buy a stock and the price goes down significantly within a few days, you should cut your losses and sell the stock right away instead of trying to wait for the price to go up again.
Treasury Bonds
If you are looking for a safe investment that will allow you to generate income without any risk, treasury bonds might be right for you. The key word here is “safe” because government bonds are considered the safest investments out there. Even if your country falls into recession and inflation skyrockets, bond prices usually remain steady, and their interest rates stay unchanged.
Commodities
Investing in commodities can be risky because both supply and demand play a significant role in dictating the price of these products on the market. However, if you decide to invest in commodities, make sure to buy an index exchange-traded fund (ETF) instead of going with individual stocks. This way, you’ll avoid taking on too much risk as commodity prices usually move together, so if one falls significantly, others will drop as well.
Conclusion
Though most people aren’t as willing to invest their money as in the pre-COVID times, which is mostly due to lack of financial security, it doesn’t mean that doing so couldn’t bring great profits. If you have some money saved up, you could try to multiply your wealth by investing it wisely.
