A boomer topic but a much-needed one.
The crypto market seems to be having a few great days. The sentiment had a 360 change and you can definitely feel it when the shillers are back.
Are we going to continue rallying or dump back? We could moon or nosedive tomorrow, nobody knows. To avoid being screwed, diversification is key. One should not rely on just a single type of investment to accumulate wealth. There are still index funds, stocks, real estate and many more out there to help you accumulate wealth.
Here are some investments outside crypto you can look into:
Index Funds -
S&P 500 is really a good choice. My personal favourite is IVV ( iShares Core S&P 500 ETF ). DCA constantly and look long-term. Some other good ones are VOO & SPY.
Stocks -
I am personally invested in my country's locally traded blue chips, specifically bank/financial sectors. They are doing well because of backing from the government. Do your own research and figure out which blue chips to go with. Growth might be slow but dividends are really great. P/S: Avoid tech stocks at the moment as they are taking a serious beating but if you really believe in the company you can ape in.
Real Estate -
Probably not a good idea to buy houses at the moment because of the worldwide interest hike, but if you have a large pile of cash sitting aside why not consider buying one and renting it out?
Fixed Deposits -
Oof, this is a hard one. You lock up your cash in the bank for a period and get a mere 2-3% interest. It's the ultimate boomer move but at least it's safer than other platforms that use your money to go and do degen kinds of stuff right? (Celsius and 3AC are good examples)
Gold -
Although gold is kinda lacklustre compared with Bitcoin, it's undeniably still a great investment.
Cash -
Finally, keep some cash with you. A bear market is just like a playground to those with cash on hand, it's fire sales everywhere. Cash can also save your life on desperate occasions like recession or job loss.
Diversity is key. Stay safe, happy investing and see you on the other side!
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