Investing your money is the most reliable way to build your wealth over time. And while there is no universal way to make your money work for you, there is no better strategy than to diversify your portfolio. What matters is your desire towards the investment, proper budget, and knowledge on how to balance potential gains as well as risk tolerance.
There are many ways to invest which means you can find an investment that offers a variety of returns and fit your risk profile. The Covid-19 pandemic opened the eyes to many investors to look for better types of investments to protect their financial future.
Here are some of the investments types you need to consider to keep your money growing:
Rental Housing Investments
The real estate sector is currently one of the best types of investing in the country. Every day people are buying properties and construction projects are being witnessed nearly everywhere, which could be as a result of the increasing population, especially in the major towns.
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The increasing number of students population has also played a huge role in making this type of investing among the top long-term and lucrative businesses. The investors are not only focusing on new homes but also refurbishment of the shabby houses is being implemented.
Agribusiness
Agriculture has played a huge role in Kenya’s economy over years. It has contributed 33% of the country’s GDP. Agriculture is one of the marketable sectors in the country comprising of poultry farming, beekeeping, dairy farming, crop farming as well as livestock farming.
It is one of the easiest types of investing to start. 80% of the country has land and a suitable climate suitable for farming. Investing in agriculture provides very rewarding outcomes either shortly or after a period of time depending on the type. It’s a good type of investing since you can sell your products whenever you feel like it.
Stock Market
It involves exchanges in which shares are publicly traded. Many people in the country have rushed for this type of investment. This type of investing will help you get profit through capital gains and also earn money through dividends.
It’s a type of investing that requires bold knowledge to avoid losses. trading a variety of stocks can help you spread your risk across different asset classes. The stock market will grow your money over time.
Transport
It has a strong return on investments and stimulates the economy. People are commuting every day to different places where they need some means. Investing in this sector is a no-doubt lucrative sector to invest in.
Investing in the Retail Industry
Investing in stocks or other financial securities is a great way to generate additional income. It helps investors get higher returns than just storing money in a bank or a fixed deposit. choosing retail investing either part-time or full-time can be a fairly profitable career choice.
It is possible to earn extra income by investing in quality investments. The return on your investments might be used as a source of regular extra income for day-to-day living.
Article by Jane Muia