Growing your money means that you have to invest it on something that will return a profit. The novel coronavirus pandemic, however, made making investment decisions quite tricky. On one hand, you will want to grow your finances and you will have to find investments that will make your money work; on the other, you might also want to keep your greens on hand or in your savings account in case worse comes to worst.
While having a personal safety net as we struggle to survive in this global health crisis is important, the option to invest in a profitable market is not completely off the table. Loss can be detrimental to our state of finances in these trying times, but it is something that we can completely avoid when we invest in the right market. That said, here are four of the best places where you can put your money to work and end up richer at the end of the pandemic:
1. Gold. Investing in the 79th element in the periodic table is a no-brainer, especially in recession-inducing crises such as this pandemic. Historically, the value of gold tends to shoot up or at least remain as is whenever the market crashes or all the stocks have been lost. Keep in mind, however, that you will need to buy physical gold that you can store in a safe location for that matter — the safest being a secure safe in your home. Having a physical stash of the precious metal is much more secure than simply owning gold through an exchange-traded fund or ETF.
2. Silver. Similar to gold, silver makes for a great insurance policy that you can keep to ensure that you weather out the post-pandemic recession and remain financially secure. Silver, as is common knowledge, is less valuable than gold however. This is due to the fact that silver is far less dense than gold. This means that, given the same volume, gold will always weigh more than silver and will always have more value even if both metals end up having the same price per unit mass.
3. Agricultural real estate. I know, it is basically farmland, but we’re trying to be fancy here in a suit-tie-and-briefcase manner. Why, you ask, is this the best time to invest in a farm? Well, the measures being taken to curb the pandemic simply made way for a constant demand for food, making agricultural commodities a very stable investment. You can invest in farmland through online trading platforms, farming equities, ETFs, farming mutual funds, and real estate investment trusts.
4. Property that you can put up for rent. The pandemic made it more desirable for many to live away from cities where the contagion can spread quite easily. People would rather resettle in rural areas or the suburbs, and you can use this as an opportunity to invest in a rental property. The low competition due to fear of investment, demand, and low interest rates simply make rental property a great way to put your money to work.