In the wake of the historic COVID pandemic, the early years of the current decade are proving to be exceptionally unpredictable.
That’s just one reason that so many prudent investors are searching for potentially profitable opportunities amid a volatile market and weak economy. While there are no sure things, it is possible to identify a handful of assets that have the potential to deliver positive results.
In addition to purchasing a home and adding precious metals to a personal portfolio, people are exploring things as varied as blue-chip corporate shares, healthcare and energy-based equities, investment-grade wine, and more.
Keep in mind that plenty of working adults choose to invest in themselves by going back to college or graduate school and earning degrees to enhance their careers. Stay informed by reviewing the fast facts about a few of the most promising financial opportunities for 2023.
While it’s never a good idea to build a lopsided portfolio that includes too much of one asset class, precious metals like gold, silver, and platinum can be a wise addition to a person’s long-term investing strategy.
One reason gold holds such promise in 2023 in that the economy is in relatively dire shape. Since the onset of the COVID pandemic in early 2020, gold has risen significantly in value and hovers around the $1,900 mark.
If inflation continues to surge for the next several months, there could be upward pressure on the metal. Nothing is inevitable in the precious metals niche, but the asset class can serve as a nice counterbalance against equities and other paper-backed holdings.
Single Family Homes
When the stock market is volatile and the economy is struggling, homeownership can make good sense. Not only do purchasers get the chance to use the mortgage interest tax deduction, but they also get multiple other rewards from owning their primary residence.
There are so many benefits of ownership that it’s important to review an informative guide that lists them all and explains each one in simple terms. For most owners, there are several tax deductions available, including some special ones that pertain to investors who don’t live in the properties they acquire but rent them out instead.
Having a guide like that handy during the tax-filing season can come in handy and save you a substantial amount of money.
Dividend Paying Blue Chip Stocks
Aristocrat stocks are shares that have paid dividends for at least 25 years without interruption.
Most are issued by blue chip corporations and generally make a solid choice for a diversified portfolio, particularly when the national economy is not performing well. Some investors restrict their equity holdings to aristocrat stocks to maximize profits and minimize risk.
Job Training & Education
It’s easy to overlook one of the best investments of all: yourself. Every year, huge numbers of young and mid-career adults put their money on the line and aim for a four-year or graduate-level degree.
In today’s high-tech economy, education is a solid bargain, particularly for those who choose their degrees and majors based on career goals.
This year’s hottest specialties are IT, engineering, non-profit management, and health administration.
Investment-grade fine wines could see their biggest year yet. Online sellers and brokers in the vino niche are gaining traction with retail investors, institutions, and hedge funds.
A decade ago, buying wine as an investor was a highly costly proposition. Nowadays, anyone with $50 can purchase fractional shares of the world’s most expensive vintages. Brokers let account holders accumulate shares just as they would with corporate stocks.
Storage and insurance fees can eat into profits, but as a hard asset, wine tends to perform well when the rest of the economy is faltering.