Crafty and Wallet-Friendly Ideas for Investment

In today’s rather unpredictable economic climate, believe it or not, smart investments are more important than ever. If you’re wondering just how to invest wisely, here’s a cool list to get you started – chalked out from handy research and some light reading on a recent entrepreneurial guide about the eleven most bankable investments of 2023.

Curious? Let’s dive in.

Your Friendly Neighborhood Savings Account on Steroids

Bet you didn’t know that high-yield savings accounts make up one of the smartest short-term investment options. They’re ideal, especially if you like your stakes low and your returns guaranteed. It’s also perfect for stashing away your emergency fund or short-term saving goals.

Beyond being FDIC insured — which means you won’t lose your initial deposit — these accounts offer the added lure of easy access. But here’s what’s surprising, there’s a wee catch, you see. Inflation rates might just be a spoilsport if they rise higher than your account’s interest rates, you know!

Banks, credit unions, and digital lending platforms – they all have options. Some personal faves include Marcus and SoFi. Shop around, compare your options, and take your pick. It’s definitely worth the effort.

Going Short-Term with Certificates of Deposit

Not many would think, but short-term Certificate of Deposits (CDs) can be a neat investment option. Ideal for retirees who don’t need immediate access to their funds, but wouldn’t say no to some additional interest, I reckon.

CDs are more or less risk-free, barring the surprising eventuality of lower interest rates post-maturity or skyrocketing inflation that can mess with your purchasing power. One wonders…

Remember though, CDs come with a timestamp. Basically, breaking open your CD before the agreed maturity date equals penalty costs – a bit of a kerfuffle, if you ask me. But hey, if you’re able to commit, this might just be your golden ticket towards successful investing.

Short-Term Government Bonds and Gold – The Newbie’s Friend

If you’re new to the investment game and chasing cash flow, let me tell you, short-term government bond funds should be your aim. Not only are these backed by Uncle Sam, making them safe as houses, but their risk of interest rates is more manageable than their long-term cousins. Just make sure to steer clear of situations where inflation rates start outpacing interest rates.  And there’s also the steady and trusted gold – according to the US Gold Bureau, it’s one of the most stable commodities there is to consider. Needless to say, this is a safe bet.

The Mighty S&P 500 Index Funds

Long story short – the S&P 500 Index Funds make for a solid investment move. Why, you ask? Cue their renowned reliability and rapid recovery rate from inevitable temporary downturns.

So go ahead and pay heed to these clever and profitable investment ideas. Diversify your portfolio – remember, putting all your eggs in one basket never did anybody any good. Happy investing.