The Investors Centre is about more than just saving; it’s about putting your money to work. And while investing has the potential to bring a higher return than simply keeping it in a savings or checking account, it comes with risk that can vary from a few percentage points a year (or less) to a few hundred percent a year (or more).

As such, investors must balance their desire for higher returns with their level of tolerance for loss. There are many resources to help you do this, from robo-advisors that can provide a diversified portfolio at low cost to fee-only financial advisors who don’t earn commissions on the products they sell.

Top 5 Investment Strategies for 2024

The most important consideration is your own comfort level with the ups and downs of the stock market, which can be a wild ride. You should also consider your investment timeline; how long you plan to save before you’ll need the funds. A longer timeline may allow you to take on more risk since your investments will have time to recover from a downturn. You should also assess your overall financial cushion, including any sources of income that will supplement your investment portfolio (such as a full emergency fund and a salary from your job).

It’s often best to focus on a broad range of assets rather than individual stocks or other securities. For example, index funds and exchange-traded funds provide an easy way to diversify your portfolio. Investing in different asset categories also helps reduce risk because the same market conditions that cause one type of asset to perform well will likely affect another, too.