We’ve rounded up the best type of investments for 2022 to help you protect your financial future.
High-yield savings accounts keep your money liquid while generating a little return. Although they rarely keep pace with inflation, this is one of the best places to park cash you need to access quickly, such as your emergency fund. Plus, they’re as close to no-risk as you can get, as reputable accounts are FDIC-insured up to $250,000.
Generally, CDs are considered short-term to medium-term investments. Once you put your money in, you can’t access it – without penalty – until the maturity date, which ranges from six months to five years. As such, you shouldn’t invest any funds you’ll need in the foreseeable future. That said, I-bonds do come with limitations. To start, you have to hold them for at least five years to keep all the interest you earn. And you can only purchase $10,000 worth per year, though you can put an additional $5,000 of your tax refund into I-bonds. Index funds are investments that track various indexes in general composition and returns. For instance, you can buy an index fund that tracks the S&P 500 or the Nasdaq-100.
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