Where's the best place to invest your money for the next ten years or more? Many say it's the stock market.
Despite the market’s ups and downs, stocks are once again the most popular way for Americans to invest. A Bankrate survey shows 28 percent say the stock market is their top choice for long-term investments. That’s up from 20 percent last year. Chief Financial Analyst Greg McBride says the economic downturn and recent rebound were factors.
“The pandemic has altered investment strategies for more than 40 percent of investors, and more of them saying they’re going to invest less aggressively over the next ten years, not more aggressively,” McBride said.
Other options Americans considered for long term investment include real estate, savings accounts/CDs, and gold or other precious metals. McBride says historically, the stock market is likely to provide the best returns over the long haul. However, he says you have to stick with it through market volatility.