How to keep the money 2023

How to keep the money? Where is the best place to put your money if your primary focus is preserving its value? During the last financial crisis, stocks and bonds collapsed, government debts approached unsustainable levels, and the Federal Reserve “prints money” making holding cash seem more dangerous than ever. This is in addition to real estate losing its value during the crisis and has ongoing costs such as property taxes. So, what is the best way to preserve the value of money?

keep the money

How to keep the money?

If you’re a retiree getting Social Security payments, you may see an increase in your monthly check from year to year. It happens because the government adjusts the payments based on the cost of living for keep the money. According to the consumer price index. But this increase requires congressional approval.

A 1.6% increase was approved for 2020, the same as the increase for 2019. The increase was 2.8% in 2018, and it was 2% for 2017. But in 2016, the increase was only 0.3%.

By 2023, the Social Security Administration estimates the increase will be lower: 0.2%. These numbers are based on the Consumer Price Index, but advocates for pensioners have argued that was not enough for keep the money. They noted that goods and services mostly used by the elderly, such as health care, experienced greater price increases than the general index.

Read more: How to earn money for beginners 2023

How to protect your savings

The primary way to maintain the value of money and beat inflation is to invest your savings to achieve a better return than you can get in money market or savings accounts for keep the money. Investing in anything else may involve more risk than an FDIC insured account, but you can choose the investments that are appropriate for your level of risk tolerance.

Retirees may want to consider Treasury Inflation-Protected Bonds, for example. These bonds adjust the interest payments you receive based on changes in the consumer price index. Even if prices fall during the investment period. You will still get the original amount you purchased with.

Stock investment returns

Returns on equity investments may generally beat inflation as well. Investors who want to avoid the volatility associated with individual stocks may choose mutual funds or exchange-traded funds, which have lower fees than other index funds.

Invest part of the savings in precious metals such as gold or silver. It is another way to hedge against inflation. Direct purchase is a traditional way to invest in these assets. But you can also invest in several precious metals ETFs to reduce storage costs.

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