The past 2020 was full of uncertainties and a lot of ups and downs. However, the situation is not stable yet. But we need to return to the normal gradually and start planning to invest in different platforms. While thinking about investment, you can consider being a bitcoin trader. Here we will also offer you some other investment options.
Top 5 Innovative Investment Strategies to Pursue In 2021
Here are the five most innovative investment strategies that you can pursue in 2021.
1. Make the investment On Yourself.
The best investment that you can make is making the investment in yourself. Though most of the time, we forget to think about ourselves and become the most negligible one. It is the best investment for a long-term goal. As an investor, I consider investing in myself and also get the result. To know more you can visit codecondo.com
After all, you are doing all this investment stuff in order to increase the money income. When your skills are developed and sharper, it will increase your productivity and income as well. Some new skills will let you start a side business and give you an extra source of income.
2. Accelerate Your Retirement Plan
Technically a retirement plan is not an investment. Rather it is a platform to do your investing in. The investment income that you earn in your account is totally tax-deferred. This means the particular difference between getting a 7% return on your investments that is after-tax along with 10%, tax-deferred.
An investment in the right platform will give you much higher returns if it is done properly. You can earn much more when you are investing in a tax-sheltered retirement plan than making the investment in general ways.
3. Consider Cryptocurrency
Cryptocurrency has become a popular platform to invest money nowadays. Though the Crypto market was near to demolition at the initial situation of the coronavirus outbreak. But after a few days, it starts reaching sky high. With the increasing value price of Bitcoin, it is also getting some organizational recognition. Many big institutions are considering Bitcoin in their system.
More retailers are accepting payments through Bitcoin and other Cryptocurrencies. The Crypto market also includes several ups and downs of the price values of Cryptocurrencies. You can consider a long term investment here. You can invest your money in Cryptocurrencies or specifically in Bitcoin. But you need to gather some knowledge about the market and its risks.
4. Pay Off or Pay Down Debt
We do not know what 2021 has for us. Will the economy will rise or tumble down in the coming days. But our past experience from 2020 will serve as a cautionary tale. Millions of people lost their job and struggled for existence. Though the stock market faced a mini crush, it manages to get an impressive recovery.
When life is unpredictable, cut off your debts. When you pay a credit card debt with a 20% iterate rate, you are securing an investment return of 20% for several years.
5. Why Not Real Estate
The residential real estate industry is witnessing a steady rise in its price. But if we look at the commercial real estate sector, we will find some turbulence with a mixed bag of ups and downs. This is the very reason why we need to consider the commercial real estate sector with a close look.
As a whole, the REITs or real estate investment trusts had performed poorly in 2020. But as an investor, I like REITs. The counterplay of the stock market gives the investors a reason to make their investments in real estate. By considering the possible ups and downs, you can make an investment in the real estate industry.
You can consider any of the mentioned strategies or platforms while making the final investment decisions. Yes, the economic condition is not stable now, and it is increasing the panic. Bit panic cannot solve any problem, and you have to think and do proper planning to overcome this situation.