Do you think of making some tangible investments this year? Are you looking for some productive investments that will reap everlasting returns? Have a look!
This is now you know and, in this video, we present the top 5 personal investments to make this year;
1. Invest in a secondary source of income
A secondary income source is like a pacemaker to the heart. It is always supportive in the needy times and keeps you going, no matter what!
You can go for investing in a side business like an online venture which will let you spread your wings and allows you the kind of work you enjoy doing.
2. Invest in Mutual fund
Since the markets have fallen in the Q1 of 2020, the mutual funds are a lucrative investment with reduced NAV. A lumpsum investment or SIP will yield good returns in the long run.
3. Invest in yourself
Acquire skills that will help you advance in your current state or help you walk towards a new career line. You can go for higher education or take online courses or enroll in some extra classes.
4. Pay off your loans
Paying off those credit card EMIs may not sound very exciting but makes a lot of financial sense as most of the credit cards charge an interest rate of 15% to 25% which comes out to be a huge amount when its time to pay. Also, if you have taken any loan especially personal loan then they may burn a hole in your pocket being one of the most expensive modes of financing. Once settled, they will give you a lot of leverage to make choicest investments.
5. Invest in family
No, not monetarily but humanly. Your family is one place you look up to all overwhelming times, be it happy or sad. You can always look up for advice, suggestions, and know that the other one holds the best interest for you.
