It’s no secret that the cost of living is higher now than it’s been a long time. This isn’t just a local problem either, people all around the world are experiencing stagnant wages and crippling inflation rates. 

Some people who would have been comfortable with their wage a few decades ago are now struggling to make ends meet. This leads many people to wonder whether they can survive, let alone thrive and build their wealth. 

 

Real Estate

 

Investing in real estate is considered one of the most stable investments out there. Unfortunately, it’s not completely foolproof. Houses are often a lot more expensive than they were only a few years ago, making it difficult for people to build a home, let alone an investment.

This is especially true among younger generations. It’s been found that 72% of millennials are concerned about rising home improvement costs, as well as the cost of buying property. This means that it’s even more difficult for people to invest in a “fixer-upper” and make improvements.

However, it’s still possible to take advantage of a hard market by making smaller investments. Fractional investments allow investors with limited funds to invest in a partial share of a property as part of a community. While this means less profits and less control, it can still earn dividends and appreciate in value.

 

 

A Varied Portfolio

 

An investment portfolio isn’t something that you should jump into. You can build a portfolio over time, and it pays to be careful about the choices you make. Beginner investors can use AI investment tools to build a starting portfolio, but if you want to make some more money, study investment patterns and strategies. 

Avoid high-risk investments like cryptocurrency unless you’re prepared to lose your money. Yes, people have become millionaires this way, but so many more people have lost their life savings. Don’t bet everything on one investment or treat investing like gambling, or you’ll get the same results.

 

Make Better Personal Finance Choices

 

When people think about building wealth, they often think about investments and income streams. But another option is to reduce the money you lose.

If you’re in debt or you’re living from paycheck to paycheck, you shouldn’t really be thinking about your investments or savings. Instead, focus on breaking out of your financial cycle.

Higher paid career options are a good place to start, but reducing the load on your finances will help even more. Make a budget and cut down on spending as much as possible. Some people find that a harsh short-term budget can get them out of a hole, then a more realistic budget can keep them from spending more than they can afford.

Subscriptions, leases, debts, and other streams of money loss should be plugged as much as possible. Work on your debts before your savings, as you might be surprised by how much your finances improve.

 

(Disclaimer: This content is a partnered post. This material is provided as news and general information. It should not be construed as an endorsement of any investment service. The opinions expressed are the personal views and experience of the author, and no recommendation is made.)