401K Not Enough? 4 Investment Opportunities to Consider
Saturday, January 20, 2018, 6:00 AM | Leave Comment
If you look at your 401k fund and realize that it will not be enough to ever retire, then you may want to start thinking about other investments that you can make.
While you may want to continue putting money into your 401k, there are other options worth exploring.
Here are some ideas to jump-start your thinking.
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Bitcoin
Buying bitcoin may be a great investment, but as with all investments, you should only invest what you can afford to lose. People have, however, made a lot of money with this decentralized currency.
While people are becoming increasingly comfortable with dealing online, the trust in traditional monetary systems continues to decline.
Therefore, bitcoin may be a good way to build your retirement fund as this new monetary system becomes more mainstream.
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Real Estate
Real estate has much less volatility than many other markets. For example, the Triangle region of North Carolina is a great place to consider with its beautiful scenery and the booming economy.
That is why businesses, like Block & Associates Realty, have been helping investors make money by owning rental property.
Even in a bad year, it is not unusual for your investment to increase in value. If that’s not benefit enough, investors often enjoy breaks on their taxes.
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Stocks
A stock fund may be the perfect investment for retirement.
For a reasonable fee, you are hiring someone to recommend stocks for you that they think will increase over time.
They are also responsible for buying and selling the stocks when you tell them too or when they think the time is right based on your direction.
Look for a fund that invests in different sizes of companies, and one that includes some overseas stocks. While some people invest in just one hot sector, remember that it may be a cold sector in the near future.
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Cash
Almost every retirement plan should include some cash. Make sure that you are putting your cash in a market where it is compounded regularly. The amount of cash that you should have depends on your age.
If you are young, then you may want to invest almost all your money while those closer to retirement may want to have more cash on hand.
If you invest $5,000 at 3 percent compounded interest, in 50 years you will have earned over $17,000 on your investment without spending any more money.
If you are finding that your 401k is simply not enough, then you need to consider other types of investments. Use these suggestions to get your own creative thinking going.
Realize that except for cash, your 401k and other investments can grow rapidly or they can lose value.
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