With the coming of the new year, the doors are opening for many new opportunities. This is true for most walks of life, of course, but today I am going to mainly focus on the financial sector. Markets are reopening for the first time in many years, and with this, we have to ask ourselves what will really be worth it.
As you can probably already tell based on the title today, that is what I am intending to cover. There are some good ideas and some bad ones that I have seen espoused, so let us go ahead and take a deep dive into investing. Don’t worry – it is not nearly as complicated as it might appear!
Current State of the Economy
Before we can truly delve into some of the advice for 2023, it is probably a good idea to become familiar with the markets that we are dealing with in the first place. Unfortunately, a lot had changed since the end of 2021, when it seemed like Cryptocurrency was going to continue its rule. To say that things are different right now would be a bit of an understatement.
You can get an idea of what we are contending with here if you are curious. For now, though, let us discuss the current trends that we are seeing. Most of them have to do with global politics, just as a heads-up.
Now, if you were not already aware of this, the Russian war upon Ukraine has actually sent many global markets scattering. It has had a profound impact on things such as the oil industry and more. While it may not have seemed like it at the time, many markets have not entirely recovered from this and likely will not until the war stops.
In addition to that, something that the United States has been grappling with in particular has been inflation rates. It skyrocketed in 2022. Certainly, that will be something to keep an eye on moving into the new year.
What to Steer Clear of
Next on the docket is to discuss some things that I (and many financial experts) would recommend that you avoid as we enter 2023. There are a few entries to take note of here, and perhaps most notably there is cryptocurrency. I highlight it in specific because last year it was on the up and up.
Right now, projections are a lot different. You can find some examples of it on this page, if you are curious as to what I am referencing. Just know that because of the scandal that the creator of Bitcoin got into, the stocks for that particular coin have been falling. The rest of the cryptocurrency followed suit.
So, if you were thinking about investing in this style of asset, you may want to rethink that. At the very least, it does not seem wise to pour all of your cash into it. What else is there to avoid, then?
Well, the rest is a bit more subjective, I will admit. Stocks for certain high-risk companies or industries are likely not the wisest investments at the moment. However, for more definitive lists here, I would suggest utilizing your preferred search engine. For now, I would like to shift your attention to some of the things that I would recommend.
What is Looking Promising for 2023, then?
Time for the best part of our discussion today! What industries are in fact looking like they will be able to offer us some good investments in the coming year? Thankfully, there are a few contenders here, so do not stress out too much if nothing jumps out to you immediately.
Precious metals are something that I would consider to be a mainstay in the world of investing. There are very few instances in which they actually fall “out” of style. Naturally, we have a few aspects about them that we can point to in regard to why this is true. Most important, though, is the simple fact that it is rather hard to think of a time in human history when gold has not been sought after.
Perhaps the most complex part of this asset is locating a broker. Luckily, we have resources that allow us to learn more about this company if we are trying to find one that suits our specific needs. Because of how many there are it might be easy to get lost in the shuffle, but I do hope that some of the links can assist to some extent.
With that fresh on your mind, you may be wondering why else we should care about precious metals. At the end of the day, I am covering them in a bit more depth because they can also help to serve as a hedge against inflation. Obviously, that is something that is appealing to a lot of people right now given how stressful the rising rates have been in the past year.
What else might you want to consider, though? Real estate is one that comes to mind frequently enough that I figure I should cover it, however briefly. At the moment, it is pretty easy to see why the housing market has attracted so many wandering eyes. Things definitely seem to be booming.
Generally speaking, it is hard to say that purchasing property for investment purposes is a bad idea. Even if the real estate market were to crash tomorrow, you could simply hold onto what you have purchased and sell it once things pick back up. My only real caution here is to remember that buying property is a commitment no matter how little work it appears to need.
So – there you have it! Hopefully, you have found what I have shared in this guide to be helpful at least to some extent! Enter 2023 feeling more prepared and ready to conquer whatever life throws at us by having the proper investments to back you up!
Ayesha completed her Doctor of Philosophy in Biochemistry and started her career as a College Lecturer in 2013. Today, she’s a happy mom of 2 Kids in the field of digital marketing. She loves reading books, spending time with her family, and making delicious food for her husband.