Where Should I Put My Savings? Stocks? Cash? Bonds?
Saving is important! Here are a few saving tips we recommend!
When do we discuss savings?
For more information related to Paid Work, check out our Paid Work blog
https://www.insuredty.com/saving-1
There are 3 categories of work: Paid Work. Care Work. Remembering Work. To help our users plan work, we created a Remembering Board. The Remembering Board is a board that lists out all of our crucial long-term tasks that are on the backlog. There are multiple categories to a Remembering Board, including Paid Work and Care Work categories.
Diversification: “Don’t put all your eggs in one basket”
Consider reading this article written by Beacon Pointe to gain further knowledge relevant to this topic:
https://beaconpointe.com/diversification-dont-put-all-your-eggs-in-one-basket/
Just like the old saying goes, "don't put all your eggs in one basket." The answer to this question is that you should have a diversified portfolio. This means that you should have some of your money in cash, some in Bonds, some in Stocks, and even some in Cryptocurrency. It is essential to have your money invested in a diversified manner. If your money is diversified during a economic downturn you will have other funds to fall back on. Diversify!
Pro Tips:
Mutual Funds
The article listed below contains further information relevant to diversification through mutual funds:
https://www.thebalance.com/diversification-investing-with-mutual-funds-2466585
If you are looking to diversify your portfolio through a simple means, then you should purchase mutual funds. Mutual funds are a broad group of stocks, so if you buy a mutual fund, you will automatically be invested in a diversified fund composed of various stocks. This is a beneficial and hassle-free way to diversify your wealth through the stock market.
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