How to Choose The Best Investments For You in 2024

Can I be 100% real with you? You can’t build wealth if you don’t invest your money. This is a hard cold fact. I hear so many people say they are good savers but saving money alone could make one die broke. Let’s face it, between taxes, interest on debt and inflation money that’s just sitting in the bank is worse off than money under your mattress. At least under the mattress it may be safe from some of these inevitable depletions but all the same if you have a fire or flood you are left in a bad situation. Some people are afraid to invest their money because they fear losing their money. There’s also some people doing retail investing with little or no knowledge of what they are actually doing. It really shouldn’t be like this! 

For those who say “I don’t want to lose money, they are on the right track because Warren Buffet gives this as advice to investors. Everyone wants to see a return investment and wants to have profitable portfolios however with the reward also comes risk. If the risks are calculated and losses are factored into your projected profits you will still have an opportunity for wealth accumulation anyway!

There’s some very simple strategies that you can use to minimize losses and increase gains over time of course. Anyone who believes you can get rich quickly disqualifies themselves as true investors. One of the biggest factors of investing is time.  Assets growing too fast are vulnerable to large losses just as fast. Wealthy people have known this for a long time and have been using these strategies that involve money maturing for a very long time.  Some investing strategies available are complex and not meant for novice investors to use and some of the information is inaccessible for the masses, to say the least.

I want to share a few tips on how to choose the best investments in 2024 and beyond. With all that the world has been going through I’m sure many are believing that a job alone may not be as secure as they once thought they were. 

Establish Goals and Timelines for ROI. For some investments there has to be a period of time during which you will leave your investment untouched. You must set your goals and decide if you set a short-term or long-term horizon for your investment. Long time investments are more likely to endure the ups and downs of the equities market and typically have a 10% rate of return. If you are investing for income choose your investment strategy wisely. 

Choose Assets That You Understand. It’s wise to invest in things that you understand and use in your daily life. Don’t really go for what EVERYONE else is investing in just because you see IG posts or YouTube videos unless you understand the market. If it’s foreign currency, stocks, bonds, real estate, commodities, crypto, NFTs or alternative investments like fine art or collectibles, do your homework and the products and services you put your money in. Also, take note and don’t forget that you can purchase fractional shares of stocks and cryptocurrency.

Investigate Who and How The Company Is Being Ran.  Read the white papers and credible news articles on the company. Get to learn about who’s running the company as well. You can follow them on LinkedIn and Twitter. See do they align with what’s important to you. Sometimes all it takes is for a Founder to say or do something crazy and cause your investments to take a downturn. 

Diversify, diversify, diversify. You never want to put all our eggs in one basket… You need to balance the risks of investments and create multiple streams of income always. This is very important because different investments can change their value at different points in time and you want to be ready for that by keeping your assets from leaning too heavily into one company or sector. Remember to spread your money around as many asset classes as you possibly can. It is also safer if you are a beginner to minimize investing in things that do not have a track record where you can see enough past performance. Although the company’s future plans can tell you a lot as well. 

Get A Professional Help You. Many people want to be retail investors just to say “I’m an investor”. Well the truth is getting professional help doesn’t take that away from you. Even if you are making trades in your own brokerage account, connect with mentors with a track record of success . Subscribe to newsletters or media that gives you deeper insights into companies you are interested in investing with. Once you know what you want to do and your goals are set, you can start thinking about the specifics of your investment with guidance. Be wise about it. The Book of Proverbs says “a fool hates instruction”. The Bible also teaches “a fool and his money will soon depart”.  People usually think that having someone consulting them with their money is expensive but nowadays with so many unqualified opinions out there you can’t afford not to get help. You must be really careful about where to get the best and most accurate information, which in itself can be a very hard task to take over. 

This is one of the main reasons I started my PINK MILLIONAIRE Consulting practice. I was getting so many requests for help with financial and business decisions. It’s become my passion to help people make and multiply money faster , easier and simpler. The right mentorship is vital in order to help you build your empire. If you want some free mentorship you can now have wealth, leadership and lifestyle training created especially for you in the palm of your hand. Download the PINK Milli App today and you will be well on your way to more finances and a better life. 

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