“You gotta have money to make money.”

If you have some extra wealth put aside, you may be looking for ways to make it grow and give your family a more stable future.

Finding the right investment solutions can be tricky, but it’s worth taking the time to learn about your options. Here are 5 tips to get started on securing your financial future.

Invest in Gold

Investing in gold won’t bring big bucks, but it will provide sound financial footing.

The fiat nature of the US dollar makes it subject to fluctuations and inflation. Gold is more stable. It’s a finite resource, has practical and cosmetic uses, and is recognized as valuable throughout the world.

The price of gold rose from $347.20/oz. to $833.75/oz. between 2002-2007. Gold’s value remained constant — but the value of the dollar decreased.

Gold investments won’t bring in interest payments or quarterly dividends, but they will give you stable assurances for the future.

Invest in Real Estate

Real estate is one of the oldest and wisest investment solutions.

Buying and renting out a house or apartment is a great way to develop a consistent cash flow. Rent is monthly, so you see immediate returns.

You’re not just rewarded with money, but also with actual property. You could buy your dream retirement condo, rent it out while you’re working, and then move there yourself when you retire.

Real estate is expensive. You’re responsible for maintenance, plus property tax. You’ll also pay capital gains tax if you decide to sell the property, unless you defer the taxes as explained by 1031Gateway.

But if you manage your assets well, investing in real estate is a great way to have your cake and eat it too.

Invest in Index Funds

If you want to get involved in the actual market, index funds are the way to go.

Investment funds are collections of pooled capital contributed by different investors. In an index fund, this capital is invested throughout the market based on an index, such as the S&P 500.

While you won’t have much say in how your money is used, there’s low risk because the investment is diversified throughout the market. As long as the overall market grows, you’ll make money over time.

Index funds allow an investor to passively make money. It’s the most stress-free way to invest.

Avoid Individual Stocks

Investing in individual stocks is one of the more hands-on investment solutions.

But while you have more direct control of your money, that isn’t necessarily a good thing.

It requires you to give money to a company you know little about. You don’t know their management or their plans. Investments will be relatively uninformed decisions.

Investing in a few individual stocks is also more subject to market volatility. Putting your eggs in one basket is more dangerous than a diverse portfolio.

Finally, more involvement by you could mean you make poor, panicked decisions such as selling as soon as the market gets a little scary.

Unless you want to make a career out of professional investing, steer clear of individual stocks.

Hire an Expert on Investment Solutions

Making your own investment decisions can be rewarding. But it can require a lot of work.

Some people simply aren’t comfortable stepping into the world of investment.

If you can’t effectively invest on your own, it may be worth hiring a financial planner to help. Their expertise and experience on the subject will bring in good returns with no extra work for you.

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