In today’s economy, it’s not enough to rely on your salary and put your savings in the bank. If you want to build wealth, investing is something you might want to look into.
There are different ways that you can invest your money and if you’re not in a rush to get a high return, then you can stick to low-risk investments.
Low-risk investments can be about buying assets with a low probability of incurring losses. However, it’s going to take a while to earn something significant with these sorts of investments. So, if you’re after high-potential payouts, you’ll have to focus on high-risk or high-yield investments instead.
Now, what are some of the best high-yield investments that you should look into in 2023? Keep on scrolling to find out!
Gambling
This may come as a controversial way to invest your money, but if you think you have enough luck, then this is the high risk you’d want to take. Although, some would argue that gambling isn’t investing. Still, it’s possibly the fastest way you can gain something significantly.
Gambling is becoming more and more popular among high-risk investors. For example, sites like 10CRIC Casino are providing over 1600 different games that allow players to win real money with just a small investment.
However, know that when you’re gambling, outcomes are extremely hard to predict, especially if you choose to play real money games that rely on your luck like online slots, roulette, and baccarat. However, if you play table games like poker and blackjack, then you can strategize to improve your chances of profiting.
High-yield Savings Accounts (HYSA)
High-yield savings accounts are also great for investors with short-term financial goals. This is a type of savings account that’s similar to traditional ones, but it can pay up to 25 times more. HYSAs usually let you deposit a certain minimum amount with pre-determined rates and fixed terms.
This is also quite a safe choice since deposits on such accounts are usually insured by the Federal Deposit Insurance Corp. (FDIC).
It’s generally a good investment if it’s insured by the FDIC since it means that if the bank gets into any trouble, your money is protected. But, of course, you need to check how big the FDIC coverage is. A standard FDIC coverage is usually around $250,000 per depositor.
Cryptocurrency
Investing in cryptocurrency is a lot like gambling because of its high volatility. That said, this is for investors who can stomach high volatility in exchange for high returns.
Also, this is a sort of high-risk investment that can eat up a lot of your time because you need to constantly check crypto rates so you know when to buy or sell.
If you’ve never tried buying and selling cryptos before, it’s a lot like the stock exchange. It’s just that crypto values can significantly fall or peak in a single day, sometimes even in a few hours.
Some of the most popularly used cryptocurrencies right now are Bitcoin, Ethereum, Ripple, DogeCoin, Litecoin, and Bitcoin Cash. Altcoins like Cardano, Shiba Inu, Chainlink, and Stellar are also popular with crypto users.
If you do plan on investing in crypto, make sure you only trust legit sources so you know what coins you should buy. Bitcoin is likely the safest bet since it’s the father of cryptocurrencies. That said, it can greatly affect the value of altcoins.
Bitcoin’s current all-time high is over 65,000 USD which happened in November 2021. As of writing, Bitcoin’s value is around 17,000 USD.
Real Estate Investment Trusts (REITs)
Real Estate is all the rage when it comes to investing. It’s smart to buy a property and eventually sell it for a higher price. However, not everyone has the time to manage and find ways to significantly improve the price of their properties.
If you’re someone who wants to invest in real estate without managing a property, then REITs are for you. It’s a hands-off way to make money off a property. What REITs let you do is invest in or finance income-earning properties.
If this is something you’ll want to do, you’ll need to research what kind of businesses are doing great today. Check for industry trends so you can asses if certain REITs are worth investing in.
A mall REIT is just one of them that you can look into. When doing research, check the current surroundings and if there are other developments planned around the area in the future. You need to have a good eye to foresee the future of the businesses that will contribute to your earnings.
Conclusion
Those are just some of the high-risk investments that are still a good idea in 2023. While these are the ones that made our list, it’s imperative that you do your research on each of them and that you take the time to do so.
After all, it’s your hard-earned money that you’ll be investing. High-risk investments are not for the faint of heart. Make sure you know what you can lose before putting your money somewhere else.
This article was written in cooperation with Dylan D