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To secure a comfortable financial future, look for ways to earn some extra cash.

There are many ways to make money today. You can bet on football or any other sport and earn some cash from it, or you can do some simple work like writing or translating online and make some profit from them. Investing is another way to ensure adequate living as you get older, but as the economy struggles with high inflation rates, you don’t know where to put your money, so what are the best investments to invest this year?

High yield savings account

Savings accounts are not technically an investment, but they do offer some return on your money. Many people consider these accounts to be a good investment because they are secure. You will not lose any money when you consider keeping your money in a savings account, as most of these accounts are insured by the government. These accounts offer fixed rates, but some banks design savings accounts that offer better yields to entice customers, so try some online searches to find the best rates before opening a savings account at a bank.

Short-term certificate of deposit

Certificates of deposit are another option for investors. These are like savings accounts, but they offer high interest rates. These are issued by banks and insured federally, but have specific maturity dates ranging from a few weeks to a few years. Banks will pay you interest at regular intervals. Once your CD matures, the bank will allow you to get your money back with any accumulated interest. Each bank offers its own interest rate, so do some research before you get any of them Choose a short-term certificate of deposit when you expect the rate to increase as it is nowadays. This way, you will ensure that you reinvest your money at a high rate while your certificate is outstanding.

Short-term government bond funds

The US federal government and its agencies issue such investments. These are considered very good for beginners and those who are looking for cash flow because their risk is low. FDIC does not back government bond funds. However, the funds are backed by the full trust and achievement of the United States. Short-term government bond funds are better than long-term ones because these bonds are affected by interest rates, which means that if interest rates fall, bond prices rise and the opposite is true. Thus short-term funds will not be affected by the rise or fall in bond prices.

Short-term corporate bond funds

These are similar to government bonds, but they differ in one thing, which is that corporate bonds are issued by large corporations. As large corporations issue corporate bonds to finance their investments, you may find that corporations are open to downgrading their credit ratings or face some financial problems. This way you better make sure that your funds have some of the best corporate bonds on the market. These bonds are considered an excellent option for those who want to make money and reduce the overall risk of their portfolio or those who are looking for cash flow for retirees. Corporate bonds offer high interest rates. These interest rates are paid at regular intervals, usually every month.

Treasury bonds

U.S. Treasury bonds or T-bonds are considered by many to be extremely secure investment tools. There is a reason behind this belief, which is that the US government has never defaulted on its debt. Remember that when you buy a Treasury bond, you are doing it at a certain interest rate and maturity date. Maturity dates range from one month to 30 years. After you buy the bond, you will receive regular payments for interest and when the bond matures, you will get your principal back. You have to remember that these bonds are not like CDs, you can’t make money at all, but there is always a solution. You can go to any secondary market and sell the bond.

Rental housing

Renting a home is a good investment if you have the time and good to manage your own property. It can be difficult to succeed due to unstable economy and rising mortgage rates, but investing in housing is never a bad investment. To start this investment, you need to study the market to know the best options before buying a suitable property, then you need to maintain them and deal with the tenants. You may have to work with real estate brokers to get the best deals on rental housing, or you may need to work on establishing a solid network to be able to hit the best deals on the market.

Money market account

These accounts are a lot like savings accounts, but they differ from them in many ways, such as better rates and debit cards. Money market accounts require a higher minimum deposit than a savings account, also banks will impose a limit of six transactions per month, you will be fined if you exceed this period. These accounts are considered ideal for investors who are looking for a little more flexibility than a savings account. If you decide to invest in these accounts, you should be aware that banks offer different rates, so do some online research before you invest in one of these accounts.

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