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As the year 2023 commences, I have decided to re-evaluate my investment strategy and make some changes accordingly. My financial situation has evolved over the past few years, and it’s time to ensure that my money is being put to its optimal use.
My investment portfolio is primarily focused on long-term wealth building with a mix of low and high-risk investments. This diversification helps me spread my risk and maintain steady gains over time.
First and foremost, I plan on continuing to invest heavily in the stock market. With the current economic climate, the market is showing impressive growth potential. I will be focusing on investing in companies that are fundamentally strong, have a history of growth and profitability, and operate in sectors that I believe will benefit from long-term societal trends. I will also look at investment apps that are becoming popular now by many people such as M1 Finance, Robinhood, etc.
Real estate is another area where I plan to allocate a significant portion of my investment budget. I am looking to invest in properties that will generate rental income while also having the potential for appreciation over time. Additionally, I believe that certain urban areas will continue to experience population growth, making real estate investments in these areas even more attractive in the long run.
Commodities, such as precious metals, will be yet another investment avenue I will explore in 2023. While their values may fluctuate in the short term, they have traditionally been a safe haven during economic downturns. In uncertain times, the value of precious metals tends to go up as people seek safe investments.
Cryptocurrency investment will be another area that I will focus on going into 2023. Bitcoin, Ethereum and other cryptocurrencies have become increasingly popular and have shown robust growth potential over the past decade. As more institutional investors and major corporations adopt cryptocurrency as a legitimate form of payment, I believe its value will continue to climb.
Finally, I plan to set aside a portion of my funds for philanthropy. It’s important to me to support causes and organizations that align with my beliefs and help make a positive impact on the community.
In conclusion, my investment strategy for 2023 focuses on diversification across various assets, including stocks, real estate, commodities, cryptocurrency, and philanthropy. By maintaining a balanced portfolio with different levels of risk and reward, I aim to build wealth in the long-term while also giving back to my community.
Thanks for these awesome investing and wealth building strategies! We're still working on Baby Step #6, hopefully we'll have our home paid off within 4 years. Hooray!
What I feel is those that are fortunate to have good health and be able to work fulltime and earn. I spent my life ill and unable to work fulltime and that made a difference in everything….
You know you could work for 40years just to save $1M in your retirement. But mean while some people are putting thousand in investment and now they are multiple millionaire.. we all just have to try out owning a diverse portfolio..
I’m curious so does that mean her rental home is paid off??
Growth stock mutual funds…Boom! Video length 20 seconds.
You are fortunate to be working for your fathers company, most don’t have that security of never worrying about being downsized or losing a position. I’ve worked for over 24 years to be at baby step 7, many years working for a multi-national organization without any real job security. Your family is very fortunate, glad y’all have done so well.
Thank you for sharing this informative and helpful video!
Thanks for this amazing information !! If you don't find a means of multiplying money you will wake up one day to realize that the money you thought you had, has finished investment is key, I pray that anyone who reads this will become successful in life
What they fail to teach you about making money – Rachel Cruz
I mean all of Dave’s wealth will go to Rachel one day. Doesn’t really matter if she saves or not.
You're so much more pleasant to listen to than your dad. And you give much better investing advice too!
You do know you can invest, and your money can lose money right?
IRA, Roth Ira, 401k are all going down this year. I get what you are doing, but the market in general is going down. Get a 5% interest rate savings account or learn how to trade NRGD and NRGU with Drip and Gush and the stocks that make up nrgu/nrgd as indicators
We too got a second property in foreclosure which was riddled with problems including mold, bugs and mice droppings, but we paid to get it renovated and it turned into a beautiful little cabin which we sold back in 2019.
Hi Rachel, can you please explain how I would switch from Wells Fargo bank to a bank like Ally or any online bank? I want to switch so I can get a high yield savings account at the same time.
Disposable income is disposed of (intended to be used once… and then thrown away), unless we create an intentional spending/saving/giving plan. Disposable income= garbage. Who makes enough to treat their income as garbage?
Thank you Rachel, I wish our SmartVestor Pro was this straightforward. He keeps pushing us to use bond ladders and hasn't even mentioned retirement and it's left me so confused.
informative!! I think diversification portfolio will make safe your money
That was really boring! All she did was list off retirement accounts!
I love the January backdoor Roth IRA idea.
I love how relatable and personable you are Rachel!!! ❤ Thank you for your transparency.
HSA, 401k, IRA, these are not investments!
Lol, it looks like you are wearing your old retainers as earrings.
Wordy and Purdy
What if you rent your home and don’t own your own house? How do you do babystep 6?
How do you have an HSA if you have Christian Healthcare???
I'm on baby step 3. 3 to 6 months emergency fund.
No Brokerage acvount??
Very helpful. Thank you
I will invest by being single
The HSA thing has been HUGE. People don't realize how much of a game changer it is. 100%