This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
Don’t just leave it in a checking account
If you want to turn your money into more money, the best thing to do is invest it. However, the question is, how should I invest it? Well, there are multiple ways to explore this, which include a few strategies:
1. Aggressive Strategy
This strategy would include investing in digital currency such as crypto, international stocks, or private equity. These approaches have high rewards but also can come with high losses.
If you’re not prepared to lose a substantial amount of money, reconsider investing your large chunk of cash in these avenues and focus on investing a smaller percentage.
2. Moderate Strategy
You can still invest in cryptocurrency and stocks as a moderate alternative, but instead of throwing all your dice (money) into the pot, you could throw in a percentage you’re comfortable losing in case markets don’t perform at your preference.
This is an excellent approach if you’re on the fence about investing your large chunk of cash aggressively and not interested in investing in a low-risk option.
3. Low-Risk Strategy
Money markets, bonds, CDs, and low-risk tolerance investment portfolios are great for those who don’t want to take risks with their chunk of cash. At least you can aim to stay aligned with inflation so you’re not losing money.
4. All 3 Strategies
Diversification is always a viable approach if you want to be a little aggressive, a little moderate, and less risky. Your results will ultimately be better than leaving your money in a checking account that often earns 0% interest.
5. Start A Business
If everything in your life and your family’s life is taken care of, why not start that business you’ve always wanted to start or buy a franchise or a piece of ownership in a company?
This is the perfect time to do these things because they will ultimately net you more money if your decisions are prudent and profitable.
Before you implement any of these strategies, always be sure you have your emergency fund in place. 6–12 months is optimal, but there are some cases where it makes sense to maintain a two-year emergency fund – depending on your unique financial situation.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.