How To Invest Your Money During The Pandemic
These days, most of us have plenty of time on our hands — and it’s fair to say we can all agree on the following: It’s fun to watch your favorite TV show’s upcoming episodes and live premieres to help pass the time.
But in the time it takes to decide on your next new favorite show, you can make a positive impact on your financial future. Consider investing in the following below, and then get back to binge-watching all your favorite episodes in no time at all.
Stock
Keep an eye on the stock market prices because they are sure to rise as a result of the pandemic. With that in mind, look to companies and services offering the types of things people need and desire while stuck in quarantine, working from home, or under stay-at-home orders. Don’t overlook food delivery services or restaurants offering takeout and delivery, either. Additionally, home gym equipment, online billing or payment options and no-contact vehicle delivery services also offer excellent investment opportunities.
Bonds
Not any bond will do. Inflation makes a bond’s yield fall, so long-term bonds can be a big gamble. However, if you invest your money in a short-term, low-yield bond, you’ll not only significantly reduce the risk of inflation, but you can also skirt around more mammoth losses. Indeed, short-term, taxable bond funds are the way to go for minimized loss and noticeable gain.
Financial Advisor
The advice of a financial advisor might prove priceless. These days during COVID-19, there are plenty of these professionals offering a portion of their service for free. Paid or not, a financial advisor is the best way to invest your money and make it work for you now while preparing for your future. Not only that, but an experienced financial advisor will also help you decide where to invest, manage your investments, and ensure a diversified portfolio. With a trusted professional to turn to, you’ll be better prepared for whatever the future holds.
Gold
The coronavirus may have changed life as we know it — at least for now. But, unlike many things in life, there’s one investment that will never lose its value: gold. First found centuries ago at surface levels near rivers in Asia Minor, gold was also a precious commodity among ancient Egyptians and later the Romans, and savvy investors throughout history have held onto gold in case of inflation. Gold is a great place to invest your money!
Other precious metals, like silver, palladium, platinum and rhodium, hold their value for the long haul, too. Individuals with tax-deferred or tax-exempt retirement accounts will need to place their gold in a third-party depository or place it in the hands of a licensed trustee.
Cryptocurrency
There’s plenty to love about Bitcoin, the most well-known of the cryptocurrencies. With its long track record, Bitcoin has been a relatively safe bet to invest your money, but it isn’t a solo performer. Ripple, Zcash, hedge tech company Ethereum and other cryptocurrency platforms make a strong case for investment, with little drop and a relatively solid history.
Cryptocurrency could serve as a form of future financial protection in the case of high inflation. In fact, Wyoming is leading the way for crypto- and blockchain-friendly banking — and it’s only a matter of time before other states start to fall in line. With further acceptance into the mainstream — and a firm handle on privacy — it’s no wonder electronic currency is taking off fast.
Where to Invest During the Pandemic
Bonds, select stocks, gold and other precious metals and the help of a financial adviser are all great places to invest your money during COVID-19. You can keep making gains and financial progress even throughout a pandemic by making good choices. After that, grab the popcorn, and enjoy the latest episodes of your favorite shows on Amazon Prime.