IN THIS CHAPTER
Playing it “safe”: Bank and money-market accounts and bonds
Growing your wealth: Stocks, real estate, and small business
Eyeballing oddball investments: Precious metals, annuities, and collectibles
Which vehicle you choose for your investment journey depends on where you’re hoping to go, how fast you want to get there, and what risks you’re willing to take. If you haven’t yet read Chapter 8, you may want to do so now. In it, I cover a number of investment concepts, such as the difference between lending and ownership investments, which will enhance your ability to choose among the common investment vehicles I discuss in this chapter.
Everyone should have some money in stable, safe investment vehicles, including money that you’ve earmarked for your near-term expenses, both expected and unexpected. Likewise, if you’re saving money for a home purchase within the next few years, you certainly don’t want to risk that money on the roller coaster of the stock market.
The investment options that follow are appropriate for money you don’t want to put at great risk.