Global Wealth Solutions has the answers:
- High-Yield Savings Accounts
Look for savings accounts that offer higher interest rates than traditional banks.
- Certificates of Deposit (CDs)
CDs typically offer higher interest rates than regular savings accounts in exchange for locking your money away for a specific term (e.g., 6 months, 1 year, 5 years).
- Invest in Stocks or Bonds
If you’re comfortable with some risk, consider investing in stocks or bonds. Stocks historically provide higher returns over the long term, but they come with greater volatility.
- Invest in Real Estate
Real estate investments can generate rental income and potential appreciation, offering higher returns compared to savings accounts. However, real estate investments come with risks and require careful consideration.
- Diversify and Rebalance
Spread your savings across different types of investments to manage risk. Regularly review and rebalance your portfolio to maintain your desired asset allocation.
Always consider your risk tolerance, investment horizon, and financial goals when choosing investment options to potentially earn higher returns on your savings. It’s important to balance potential returns with the level of risk you’re comfortable taking on.
Book a free first-time consultation with our global wealth manager Anthony Mackintosh today!
Contact: +263787524221
By Simone Ramjee