Best answer: Where should I invest my excess money?

Where should I invest my excess cash?

What to Do With Extra Money

  • Create or build up an emergency fund.
  • Get your 401(k) match.
  • Pay down high-interest debt.
  • Start funding an IRA.
  • Save for your other money goals.
  • Explore additional investment options.

What can I do with excess income?

10 Smart Things to Do With Extra Income and Spare Money

  • Pay Down Debt. …
  • Invest in Yourself. …
  • Invest in the Stock Market. …
  • Open a High-Interest Savings Account. …
  • Start an Emergency Fund. …
  • Buy a Home Instead of Renting. …
  • Invest in Rental Properties. …
  • Start a Business.

What do rich people invest in?

Ultra-wealthy individuals invest in such assets as private and commercial real estate, land, gold, and even artwork. Real estate continues to be a popular asset class in their portfolios to balance out the volatility of stocks.

What can I do with an extra 1000 a month?

How to Make an Extra $1,000 Per Month

  • Freelance Writing. One of the best ways to make extra money is to offer services as a freelance writer. …
  • Transcription. …
  • Investing. …
  • Work as a Virtual Assistant. …
  • Start a Blog. …
  • Start a Niche Website. …
  • Combine a Few Side Hustles. …
  • Pick Up Trash.

What should I invest in 2021?

The Best Investments in 2021

Experts recommend low-cost, diversified index funds. These are funds with low expense ratios, or fees, that are great for all investors. An S&P 500 index fund is a great place to start. It tracks the top 500 companies on the stock market.

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