For looking to invest a little or a lot in 2018, there are some ideas that are certainly worth researching further.
Platforms like Prosper and Lending Club have replaced bank financed loans with individual investors who cover the costs. These companies allow private citizens to accrue regular interest based on the money that they’ve loaned out. The loans themselves are usually spread out in small increments to reduce individual risk. Since an initial investment, need only be about $1,000, peer-to-peer lending is also a fairly affordable investment for most people.
This formerly illegal drug has recently been approved for medical use in thirty states. Although marijuana sales in the United States are projected to hit 14.5 billion dollars this year alone, investing in Canadian companies might be the better option. Despite its newly legal status, there are still plenty of federal regulations that prevent marijuana use in the United States. The plant has been legal in Canada for years. In fact, the country recently approved it for use as a recreational drug.
The market for smart devices (such as Alexa/Amazon Echo) is growing. As a result, businesses that manufacture these products have begun to look more attractive to investors. On the other hand, communication companies that keep all these devices up and running are also considered good investments.
In an ideal world, gene editing would either remove or replace harmful bits of DNA so that people can become healthy and live their best life. After all, there are thousands of genetic disorders that could conceivably be fixed by using such techniques, so the money-making potential for these projects is clearly there. However, questions of ethics aside, these programs are in their early stages and have yet to be proven safe or effective.
Personal Savings Accounts
Savings accounts are always going to be popular choices. Individuals who are eligible to start an IRA may want to do so since the money placed in these accounts has tax benefits and it can be used in conjunction with a preexisting 401k plan. However, there is a yearly limit to how much you can put in these accounts and people that make extremely high salaries may not be able to use them.
Those with high deductibles on health plans might also be able to sign up for a Health Saving Account (HSA). This is another savings account that provides tax breaks but it primarily exists to cover medical costs. If the money isn’t used for a health-related purpose by the time an individual turns 65, it can be withdrawn, without having to bother with taxes. However, it’s a good idea to leave the money where it is because overall health tends to decline in one’s later years.
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