Highstrike Trading

Long-Term Investment Options to Set Yourself Up for Success

Did you know that 69% of adults have less than $1,000 in their bank account? That is a scary statistic, but it is even scarier knowing what is about to happen. It’s no secret that the market isn’t in the best shape lately. It’s also no secret that inflation is ruining the value of our dollar. So how do you create long-term investment options in a recession? We’ve broken down a few different opportunities you can take advantage of below.

long-term investment options

Retirement Accounts

The most common long-term investment option is to open an Individual Retirement Account (IRA).

The two most popular ones are traditional and Roth.

Traditional IRAs are invested before tax is paid and you have to pay taxes at the time of withdrawal. So what are the pros and cons? You can invest more money while you’re working, but it’s taxed when you go to take it out and use it as income. This means you are paying taxes on your earnings as well.

Roth IRAs are invested after taxes have been paid and can be withdrawn at any time with no penalty. You also do not pay taxes on earnings with a Roth IRA.

Most people decide to go with a Roth IRA, especially if they’re younger or have more time to invest. 

Your own personal investments

Starting your own investment accounts is a really smart idea. It’s great to have a retirement account, but this shouldn’t be your only long-term investment option. How you invest your own money should be done strategically. This depends on your age, your retirement goals, how much you are willing to risk, and what your plans for your future are.

Depending on your goals, you can invest in many different things. Here are a few different examples:

  • EFTs
  • Cryptocurrency
  • Index funds
  • Other businesses and real estate
  • Blue-chip stocks
  • Dividend stocks

Investing in businesses or real estate

This is one of our favorite long-term investment options because the growth is endless. From real estate to laundromats to ATMs and vending machines, investing in different businesses for yourself and for others will help you to create passive and lasting income.

If you don’t want to do the work yourself, you can be an investor for others and collect a percentage of the profits each month.

Investing in others to do the work for you is a great way for you to focus on growing your wealth and ways to help others. Doing it yourself though means a little more work, but more money each month as well.

Creating multiple income streams

The final best long-term investment option is in yourself. One of the best ways to prepare yourself for the future is to create multiple streams of income for yourself.

So how do you do that? The three most profitable niches to get involved in are health, wealth, and relationships. If you can find a way to niche down even further (IE: stay-at-home parent creating a secondary income), you’ll be able to find your target audience and market yourself and your products to them.

What are great products to create? Coaching or education, mastermind events, podcasts or YouTube videos, social media content, and so much more. If you can grow an audience and provide value, you have the opportunity to create an empire for yourself.

Long-term investment options are crucial to a quality lifestyle

Long-term investing is something you have to do to ensure peace of mind for the future. If you have the ability to take the leap to invest for yourself, your future self will be forever thanking you. 

Use this recession to take advantage and buy the dips! Things might look ugly now, but never in the history of the market have we been bearish long-term. It will continue to go up again and missing out on these opportunities because of fear will hurt you in the long run.

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