For most people, investment is a must since it’s a way to secure your future. A seemingly steady economy can be suddenly turned on its head, leaving people who haven’t prepared to scramble for money. Has the recent COVID-19 pandemic made you realize it’s high time you should consider investing your money? Great!
But wait, don’t jump straight into investing in Iraqi dinar no matter how much the dinar guru tries to persuade you! You should be looking into alternatives to investing in Iraqi dinar because let’s be real, it’s a scam! In fact, it’s among the 5 common investment scams out there.
Wondering what are the alternatives to investing in Iraqi dinar? There’s a list of 10 options, which include the following:
1. Govt Bonds
A government bond is a common investment option. It is a loan from you to a government body (such as the federal or municipal government) that pays interest to investors over a predetermined period, usually one to 30 years. Government bonds are
nearly risk-free investments since they are backed by the government’s full faith and credit.
The term “Non-Fungible Token” refers to a token that is not fungible. It can be a good or asset that can be traded for another good or asset of equivalent value is referred to as “fungible.” While NFTs are frequently purchased and sold using cryptocurrencies like Bitcoin and Ethereum, they are not cryptocurrencies.
Because an NFT can only have one owner at a time, purchasing one grants you exclusive ownership of a certain digital object. You can even trade NFTs like you trade stocks. Be careful when buying or selling NFTs because NFT scams are just as common as the dinar scam schemes.
Cryptocurrencies are a relatively new form of investment. They are uncontrolled digital currencies that may be purchased and sold on cryptocurrency exchanges.
Due to their rapid and dramatic growth, cryptocurrencies such as Bitcoin and Dogecoin have sparked a lot of interest as an investment instrument in recent years. However, because of the numerous unknown aspects involved, they remain to be a highly volatile investment.
Some people think that since cryptocurrency has no intrinsic worth at the moment, it might vanish as swiftly as it appeared. Therefore, don’t put all your money here.
You can invest in gold as well as other commodities like silver and crude oil. Investing in gold has a long history, but that doesn’t necessarily indicate it’s a good alternative to Iraqi dinar. Because gold is a commodity, its price is determined by scarcity and fear, which can be influenced by political or environmental events.
If you’re thinking about investing in gold, keep in mind that your “moat” (protection against price drops) depends on external causes, which means the price can move quickly. With added scarcity and fear, the price of gold tends to rise, and when gold is freely available, it tends to fall.
5. Stocks That Pay Dividend.
Stocks aren’t as safe as cash, savings accounts, or government bonds, but they’re safer than high-risk investments. Dividend stocks do fluctuate with the market, but when the market is down, they may not fall as far.
Dividend-paying stocks are thought to be less risky than other types of stocks. For stock investors, the year 2022 appears to be quite promising. Airlines, tech, hotels, restaurants, and other businesses are reopening and expanding at a rapid pace. Do some research on which stocks have potential. Like dinar updates, stock news is available too. Use that information to make the right decision.
6. Real Estate.
Buying a property and then selling it for a profit is traditional real estate investing. If you can’t buy land, no worries. There are other ways to invest in real estate.
Real estate investment trusts. These are businesses that hold income-generating properties (mostly commercial offices, shopping malls, and hotels) and payout dividends on a regular basis. To invest, look for real estate crowdfunding platforms that pool investors’ money to participate in real estate projects.
Investors that currently have a well-diversified portfolio and want to diversify it further can take advantage of this type of investment. Because real estate assets are highly illiquid if you don’t have the heart to lose money, ignore this alternative to investing in Iraqi dinar.
7. Mutual Funds.
A mutual fund is a form of investment fund run by a money manager that manages your money and invests it for you in the hopes of making a profit.
Mutual funds are often made up of a mix of stocks and bonds; but, because your money is spread across numerous equities and bonds, they carry less risk. Stock dividends and bond interest are the only ways to profit unless you sell when the fund’s value rises with the market.
8. Certificate of Deposit.
A certificate of deposit is a great form of investment. A CD’s period might range from a few months to over five years, and the longer the term, the higher the interest rate.
Before a CD matures, there are chances to get in full value. For instance, you could buy a 5-year and get it cashed after the first year. Most CDs, however, impose a penalty if they are cashed earlier. The penalty amount varies depending on the bank and CD product. So, saving money on a CD until it matures is the wisest option.
9. Life Insurance.
Don’t listen to an Iraqi dinar guru when he tries to lure you into buying dinar. Instead, consider investing in life insurance.
As an investor, you will be paying an annuity to the life insurance company to pay you money in modest increments over a period of time. Depending on the company, the investor has the option of receiving payments till he dies or setting a stop date.
Watch out for the risk because if the insurance company goes bankrupt, you could lose your investment. Many states cover up to $100,000 in the case a company defaults. If there is compensation, go ahead and invest in life insurance.
Last but not the least, Paying off your debt is the best type of investment for anyone who has debt. Debt repayment reduces your financial risk and allows you to be debt-free. This would be a huge relief for you!