5 Best Investments in 2024

Holding your savings in cash results in a decline in value as inflation minimizes your purchasing power over time. This is where investing comes in. It safeguards your money’s value as the cost of living increases. Investing is the best way to attain your financial goals while earning high returns.

If you’ve been saving for retirement, you can put that money in an investment portfolio to create wealth, reducing the risk of financial dependence upon retiring. Before investing, you must ensure you put your hard-earned funds in the right place. Outlined below are the five best investments in 2024.

1.   Bitcoin

If you’ve been looking to venture into crypto, Bitcoin is among the crypto assets to invest in 2024. The upcoming halving event is expected to raise Bitcoin’s price. These events usually limit the introduction of new BTC coins into the market. As a result, the market sees an increase in demand as a reaction to the reduction in supply, driving up Bitcoin’s price. This means it can be a good time to buy BTC in anticipation of the halving event.

The SEC’s approval of Spot Bitcoin EFTs in January 2024 is another reason to invest in Bitcoin. These ETFs expose investors to Bitcoin without owning the token directly, making it more efficient, accessible, and transparent. Additionally, investors can swap cryptocurrency holdings to diversify their portfolios and hedge against market volatility.

2.   High-yield savings accounts

A high-yield savings account provides significantly higher interest rates than its traditional counterparts, making the money in your account grow faster. Statistics indicate that while the national average return on a traditional savings account will be 0.46% in 2024, most high-yield savings accounts provide over 4% in interest rates, which makes them worth investing in.

When it comes to savings accounts, you earn interest on the principal amount and the interest the principal earns. With a high-yield savings account, the interest you gain on the principal plus the interest earned on this interest rises, substantially growing your money.

3.   Gold

Gold is a great investment vehicle to consider this year. The ever-looming inflation leads to a rapid price increase, eroding one’s purchasing power. Investing your money in gold can help protect it from inflation because gold prices rise with rising inflation. Gold prices are expected to hit $2,200 in 2024 in anticipation that the United States Federal Reserve will begin lowering interest rates, making it a good time to invest in this precious metal. Gold IRAs, gold ETFs, and gold coins and bars are some of the best gold types to invest in.

4.   Real estate

Real estate investing is usually rewarding, with great potential for long-term value appreciation due to population growth, economic growth, and high demand for housing. Real estate investments, particularly rentals, generate passive income, guaranteeing a steady cash flow. They also come with multiple perks that help cut down your tax liabilities, including:

  • Property tax deductions
  • Mortgage interest deductions
  • Depreciation allowances

Investing in real estate enables you to diversify your portfolio, spreading risk and boosting your portfolio’s stability.

5.   Certificates of Deposits (CDs)

CDs are a great investment option for risk-cautious investors. A CD is a savings account that holders earn higher interest rates than traditional savings accounts. It provides a fixed interest rate for a predetermined period. Once the period lapses, you can access the money plus the interest earned. CDs are a worthy investment in 2024 because interest rates are expected to be the highest.


Investing helps grow your money while building wealth. Familiarize yourself with the best investments in 2024 to determine the most suitable for your goals.

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