3 Goals You Need to Set for Your 2022 Investing Strategy
It’s hard to believe that 2021 is coming to an end. As you close a chapter on one year, it’s time to start looking ahead to your bright future. In the world of investing, you’re constantly thinking about the future and planning for new ways you can grow your capital. You want to be prepared for the long run and find the best ways to reach those savings goals. Whether you’re starting with a lot of money or a small amount you want to invest, you can create a great financial picture for yourself and your family.
The key to a great investment strategy is planning. As 2022 creeps closer, it’s time to start finding easy ways to reach your goals for the new year. This will allow you to take the first step toward building a retirement account. Buffer your emergency fund now that you’re back to earning a paycheck after a global pandemic. Or increase your savings account so you can send your kids to college with zero debt. Whether you’re working toward short-term or long-term goals, find a great way to invest in your future.
Building toward your financial goals means deciding what they are. Take stock of your checking account and current assets to figure out how much money you’ll need over time. A goal should always be to secure your bank account for a long time and guarantee your family is taken care of in the future. Consider your age, your family situation, your debts, and more as you figure out your motive for making a certain amount of money. This is a simple way to avoid the temptation of reckless spending habits and stay motivated to grow your savings account.
Always remember where you came from, as well. This time last year, everything seemed uncertain and confusing. Now you’re looking for great options to improve your assets and grow your capital. This is the right time to reevaluate your financial goals and look for diversification in your bank account. Let’s explore some good ideas for the goals you should set for your 2022 investment strategy.
1. Find new and creative ways to invest your money.
With so many different avenues for investing, the first step is figuring out how you want to structure your investment plan. Make it a goal this year to try something new and explore more creative ways to invest your money. You may think that it’s all about the stock market and mutual funds, but there is so much more out there for you to explore.
Cryptocurrency is a huge area for investment right now. As a newer platform, this does involve some high-risk, high-reward scenarios, but can be a great way to grow your capital quickly. Check out different providers and enjoy blockchain trading that doesn’t involve any large financial corporations. This is a great area to explore if you have the time and energy to invest in mastering the skill of trading.
The real estate market is a great place to invest if you’re looking for passive income or a house flip project. Prices are starting to climb, so if you can get in now, you can sell a home or rent for a major profit. Being your own landlord won’t always take much work either, so it’s basically like earning free money. Whether you’re creating a space for short-term rentals or want to lease your own homes and apartments, you can make a lot of money within the real estate market.
Of course, there is always the traditional route to invest in the stock market. As we enter 2022, past performance can be a good indicator of what stocks are currently worth investing in. When you put enough money into the correct individual stocks, you can start getting a higher interest rate and make the marketplace work for you. Do be aware of the volatility and bargain for each good deal so you guarantee you make back your minimum profit. It can help if you seek out advice from a financial advisor for where to invest those portions of your paycheck. As the new year approaches, explore options to put your money into medical devices or video chat technology for financial success. The past year and a half have seen a huge spike in these areas, so you can invest now to grow your finances in plenty of ways.
Overall, it’s up to you and your financial advisor to create a great investment strategy that is diverse and interesting. Look for creative ways to invest your money as a new goal for 2022, so that next year, you’ll be in an even better financial place.
2. Grow your capital and your assets in big ways.
A lot of people are passive investors. You may put a little money away here and there while hoping for a profitable financial product. That is how you end up with average returns at best. In 2022, the first thing to do is make it your goal to actively grow your capital in big ways.
Set tangible financial goals so you know exactly what you’re working toward. This will help you spend less money on trivial things and invest in the future. It’s a good idea to set an exact timeline of how much you’d like to save. Become an advocate for yourself and be your own financial planner. Check on your bank account, retirement savings, emergency fund, and more on a regular basis so you’re being smart about your investing. Make it your goal to actually start setting goals. The more time and energy you put into investing, the more beneficial it will be long term.
Knowing you’re working toward something specific, and an exact amount of financial growth will help you hit your bottom line. Learn how to save money in more practical ways so you can have a great time in the financial world and plan for the near future or your long-term goals.
3. Know what you’re working toward and set your timeline.
There are so many different investment goals you’ll have throughout your life. As you step back and assess your picture for 2022, consider what you’re working towards. Know if you have short-term goals or anything long-term that you need to plan for. Understand the essentials for your day-to-day as you build wealth for your family’s future.
There are several different examples of investment goals for your financial picture. Maybe you’re saving for your own home that you want to move into in 2022. Perhaps this is the year you’re going back to grad school, or you plan to send your kid off to college. Or perhaps you’re putting a little bit away every month so you can have a happy retirement. Whatever your goals are, the best financial advice is to figure out your top priority. Give a portion of your paycheck to your investments or put it away in a Roth IRA.
Check out investing tips from financial planners for the easiest way to grow your capital and reach those important goals. With a diversified portfolio and a lot of time to invest, your hard work will be sure to pay off over the course of a year. Make your savings goals and do your due diligence to make all your financial dreams come true in 2022.
About the Author:
Annie Dickerson and her partner Julie Lam are founders of Goodegg Investments — an award-winning real estate private equity firm — and creators of the Real Estate Accelerator Mentorship Program. They are authors of the book Investing For Good and hosts of the popular Life & Money Show podcast: https://goodegginvestments.com/
Disclaimer: The views and opinions expressed in this blog post are provided for informational purposes only, and should not be construed as an offer to buy or sell any securities or to make or consider any investment or course of action.