Top Three Investment Platforms For 2023

Published on: 28 August 2023 Last Updated on: 27 July 2024

The ever-increasing interest rates have many people wondering about a potential recession that could be just around the corner. While some might think that there is no good place left to invest your money, we are here to tell you that you can potentially expand your investment horizon and set up this year for better returns later on.

Here are three great investment platforms to invest your money and generate profit in the long run.

Read on to learn more!

What Is Meant By Investment Platforms?

An investment platform refers to a digital tool or service that helps investors access as well as manage different financial instruments. It can either be a stock, a mutual fund, a bond, or an exchange-traded fund. Such platforms offer a user-friendly and convenient way for investors to purchase, sell, and monitor their portfolios.

Investment platforms can be found in multiple forms, such as online brokerage, peer-to-peer lending platforms, and robo-advisors. Each platform type caters to multiple investment strategies as well as requirements, thereby providing a ton of fees, support services, and features. But as for now, it is significant to opt for the right platform for making investments.

Investment Platform Types You Should Know

Investments are mostly categorized under closed-end funds, unit investment trusts, and mutual funds. All such investments have their own set of challenges, risks, and benefits. Well, it’s pretty much the same case for investment platforms. Before setting foot, it is significant that you discover its primary types:

Robo-Advisors

These tend to be the automated investment management platforms that make use of algorithms for creating as well as managing portfolios. Typically, the portfolios are customized according to the investor’s financial goals and risk tolerance. Some popular robo-advisors are Wealthfront, Digital Advisor by Vanguard and Betterment.

Platforms For Online Brokerage

Digital brokerage platforms refer to online services that let investors buy and sell different financial instruments like bonds, mutual funds, and stocks. Instances of popular brokerage platforms are Charles Schwab, Fidelity, and E-Trade.

Cryptocurrency Exchanges

Thirdly, there are cryptocurrency exchanges are those platforms that let users trade, buy, and sell online currencies. These can be Ripple, Ethereum, and Bitcoin. To name a few famous Cryptocurrency exchanges, Kraken, Binance, and Coinbase deserve mention.

Platforms For Peer-to-Peer Lending

These platforms are designed to facilitate loans between businesses and individuals, cross-sectioning conventional financial entities. Such platforms establish connections between lenders and borrowers, leading to potentially higher ROI for investors.

Investment Platforms That Are Becoming Popular In 2023

Hold your breath as you are going to discover some smart investment platforms that have been doing the talk in 2023. Due to their ease of use, these platforms are most likely to get popular in the coming years, too. So, check them out here and make a smart investment:

Cryptocurrency

Suppose you are looking for ways to improve your financial situation. In that case, you might want to look into cryptocurrency, which is essentially digital money that relies on blockchain technology and is secured through cryptography.
In case you are new to cryptocurrency, you will want to know how it works, which is what we are about to tell you. Regarding blockchain, the ledger keeps track of transactions, including intellectual and physical assets.

The access is distributed amongst the “authorized” users, and all shared information is transparent and instant. Also, the information cannot be tampered with, even by the administrator. If this sounds good, you might want to check out CoinCulture: Your Source for a Detailed CoinSpot Review and find interesting news and reviews about the competitive and profitable industry.
Security is a basic part of blockchain, which ensures that your money and profit are completely yours.

Invest In Gold

Another way to improve your financial situation is by investing in Gold. In fact, investing in Gold and Silver is considered a smart strategy against inflation. Over the long run, Gild doesn’t only maintain its value but also maintains its purchasing cost despite the potential fluctuations in the dollar.

Moreover, the high inflation periods serve as an excellent time to boost your allocations to Gold. You might already have an idea about how the stock markets work. When an economy goes into recession, the stock market slumps, too, which means that real estate can lose its value, too. This is where the importance of Gold comes in.
During the recession, Gold can establish a diverse portfolio, which further reduces your exposure to riskier assets.

High-Yield Savings Accounts

In case you haven’t heard about a high-yield savings account before, you should know that it pays the investors interest on their cash balance. Like any other savings account at any physical bank, a high-yield account is instantly accessible for cash.

A savings account is a brilliant option for those looking forward to a contingency plan. Also, if you want to avoid the risk of losing your money while investing, then a high-yield savings account might be just the right option for you.

However, before you start investing in a high-yield savings account, you will want to assess your finances and create a budget. The key to having a budget is that you will have a clear overview of your incoming and outgoing money. And you will know where you are overspending and how you can cut your expenses.

Once you have a better overview of your incoming and outgoing money, you will find it easier to stick to a budget.

The Bottom Line

Investment platforms have a pivotal role to play in the current financial landscape. Not only does it provide investors with the resources and tools needed to manage their portfolios, but it also builds an opportunity for having a passive source of income. By comprehending the most popular investment platforms, it’s your chance to boost your investments.

So, what are you waiting for? 2023, 2024, and the subsequent years have proven lucrative for the investment industry. Make hay while the sun shines, or you can lose great opportunities to circulate your money.

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Abdul Aziz Mondol

Abdul Aziz Mondol is a professional blogger who is having a colossal interest in writing blogs and other jones of calligraphies. In terms of his professional commitments, he loves to share content related to business, finance, technology, and the gaming niche.

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Metal Bank: Let’s Clarify Your Ideas

Probably, you have heard many times about metal banks and have asked yourself what it is all about? In recent years, this term has become increasingly familiar, despite the fact that metal banks were already present in the past. But what is a metal bank really, and what is its activity? A metal bank is, in essence, a company that operates in the sale of precious metals, such as gold, silver, platinum, palladium, and so on, but unlike what is often mistakenly thought, it is regulated by different norms, with respect to normal stores. The main difference between these two types of activity consists in the fact that a metal bank is a company that has received authorization to trade precious goods directly from the government and the public institutions and that, therefore, has the legal requirements to be recognized as a professional operator in the precious metals sector. There are some doubts that people have regarding the authenticity of metal banks. I would like to state that metal banks are totally compliant and regulated institutions that can operate only after securing a license from the government. This makes them genuine, credible and lawful. If you have any doubts regarding their operations or workings, you can ask your local government body to help you understand their operations. This means, specifically, that a metal bank is a company that operates in compliance with the law, making use of the work of highly qualified and competent personnel, like in the case of Faggi company. A metal bank also buys used precious metals, but, before reselling them, it melts and reworks them, so that it can also handle investment gold in the form of ingots, gold coins, and plates. What distinguishes a metal bank from a normal Gold Store is the authorization to buy and sell: Investment gold, I.e. gold shaped like ingots or small plates. This needs to be of a dimension and weight that is generally accepted in the gold market but in any case greater than 1 gram. Gold coins of purity which are equal to or greater than a small percentage or fraction (900 thousandths), that have been minted later than 1800, which have or had legal tender status in the nation in which they have first originated, Gold material mainly for industrial use, both in the form of semi-finished products of purity equal to or greater than 325 thousandths and in any other form and purity. Knowing specifically the work of a metal bank, characterized by transparency and clarity due to its juridical and corporate nature, a potential customer will already know that this is a reliable investment. The customer can also be certain of obtaining a service that stands out for experience and professionalism. And this is exactly the case of Faggi.it. Conclusion: Investing in a metal bank is a new and upcoming model of making sound investments and securing high returns. This means that there is a certain peace of mind that can be attached to working with a metal bank. You need not worry about your investments experiencing a downturn. This will never happen, as the institution works with 100% governmental compliance at all times. In the past couple of years, people have started investing heavily in metal banks. This is because the market for precious metals keeps increasing in terms of value and dividends. As more and more precious metals are found to be useful for science and tech, the demand for the same keeps rising quite steadily. Read Also: Investing In Property Is Investing In Your Future Substantial Tips On How To Invest Your Money Responsibly

Financial Plan For Your FIRST Small Business – Low Budget Plan

One of the common reasons why small businesses fail is the lack of working capital. Poor financial decision-making can be detrimental to your small business. This will not scare you or put you off the idea of starting your very first business. However, it is to convince you how important it is to draft a financial plan for your small business. The importance of predicting your financial health is not just to maintain a steady cash flow but also... Understand how lucrative your business is in the long run. How long will your business be at break-even (no profit, no loss)? When can your business start making a profit? Most importantly, what is the contingency plan of any financial hurdle? In this blog post below, we will be discussing the following: Importance of a financial plan for your small business. Elements of a financial plan for your small business. A template to create a small business plan (for any business). Importance Of A Financial Plan Here is why you should begin creating your very first-ever financial plan for your small business. 1. A Business GPS? Imagine yourself driving to a new destination without knowing where you are or in which direction you should proceed. This is what it is like to open a business without having a financial plan. A financial plan will give you a clear roadmap to your business journey, and determine how much to spend on each destination. 2. Where Is The Goal Post? We all have a vague idea of what a startup goal should be. However, getting overwhelmed is common without a clear picture. A financial plan will provide you with a clear goalpost. I am talking about tangible, measurable, and achievable goals. Whether you want to expand your business, increase profits, or reduce costs, a financial plan gives you a clear path. 3. What Ifs & Risks! It is given that your business won’t be smooth sailing forever! Businesses often face unexpected expenses. It could be something as simple as equipment breakdowns or sudden major market changes! As a business owner, being financially ready is a crucial step! A financial plan can help you set aside emergency funds, so you're prepared for these surprises. 4. A Long-Lasting Impression Want investors early on for your business? Then, it would help if you offered them a steady financial plan. Remember, lenders and investors want to see a well-thought-out financial plan before they commit their money. Therefore, having a solid plan shows them that you understand your business's financial health, its cash flow, and the potential profit opportunity. Hence, we are serious about making your business a success. 5. Improves Financial Decision-Making With a financial plan, you better understand your cash flow, revenue, and expenses. This knowledge helps you make informed decisions, like when to invest in new equipment or whether to cut costs. Important Elements Of The Financial Plan Of A Small Business Before you begin your financial planning, you should be aware of the different financial jargon for a business. 1. Cash Flow Projection This includes predicting the market, what effect your product will have on the market, and how much you can earn from it. Now, taking the potential amount you create capital expenditure for each month. The function of a cash flow projection is to ensure you have enough (at the end of the month) in terms of expansion. It is common for a business to live month by month with no profit for the first six to eight months of the business. Essentially you are establishing your business. However, if it crosses the one-year mark with just a break-evens, the following could be the reason: Your business is not making money because of the lack of demand. The expenditure is way over your income. You must start some cost-cutting methods. There is a lack of marketing, and your small business is not reaching the target audience. You do not have enough investment for the small business you are starting. Keep these points in mind when starting your cash flow! 2. Balance Sheet A balance sheet is a financial estimation of your small business’s current state. Here are some of the important items your balance sheet will have: Income & Expenditure Total owning & total owing (personal debts or small business loans). Assets that are currently under collateral. Upon reading it might sound simple. However, when it comes to a balanced business sheet, you will require a finance professional to craft one. 3. Personnel Expense This brings us to the next point in any financial plan for a small business. The personnel expense, or the amount you are spending on hired personnel. It doesn’t always have to be your employees. In fact, the number of employees for a small business will hardly reach 15 in the very first year. A personnel expense includes individuals working as consultants for the business, and the different professionals you hire to help with the internal work (e.g. Finance officer to create the balance sheet). Some of the common elements of a personnel expense are: Cost is based on the positions each professional is holding. Personal insurance plans for your workers (at least medical insurance). Expenses are spared for other professionals working externally with the business. 4. Assets The tangible assets that your small business owns: Current Assets: What the business currently owns. These include inventories, machinery & tech devices, prepaid expenses (for example, digital tools), and other office supplies. Tangible Assets: The one that physically exists under the name of your small business. Real estate (This will not include rented warehouses or offices. These will go under the expenditure section), land inventory, tangible investment (gold & bonds), and saleable merchandise. Non-Tangible Assets: These are assets that are not in a physical form. Intellectual property, pre-paid tools, investments (stocks, Cryptocurrency, mutual funds). Non-Operable Asset: Assets under your small business but from which you are not getting any income. For example, land you have an investment in but not yet open for any business-related functions. Operable Asset: Assets that your business owns currently, and that are bringing some income. For example: produced goods, factory space, warehouses, and office space. 5. Products & Services The products and services you are planning to offer will also come into the financial planning for small businesses. These include the following: The raw materials are required to create the goods. Factory costing. Warehouse costing. Transport & Drop shipping costing. Worker’s salary & insurance. Contingency management funding. (In case of any accident or unpredictable situation). The summation will give you the total cost of production. With which you can create and understand the market value of your product. This step is very important to assess the profit and loss of each item. 6. Income Projections Another crucial part of small business finance planning is prediction. This is how you can predict whether your income will have any substantial income. Here is how you can protect your business income (before starting it): Check business income projections of competitors through several data analyses. Is your small business subject matter trending in the market? What is the current market share of such companies? Are investors willing to invest in a business venture as such? In fact, check some of the Shark Tank successes, and analyze which business venture seems more profiting by investors themselves. The inflation rate of the past decade regarding the product or service you are about to sell also matters. 7. Marketing You cannot spend everything on logistics and not worry about marketing. One cannot ignore this matter, especially in today’s day and age when small businesses are reaching new milestones by a simple influencer shoutout, or social media virality! Here are some of the factors in which you will need to spend in marketing: Social media marketing tools. Influencer marketing. Small ad-films over YouTube. Website building and digital marketing (Website domain and SEO tools). 8. Risk Management No business is protected from the risks that come to every business in its lifespan. However, the contingency plan is not getting ambushed by a sudden change. Here are some of the financial risks/uncertainties your new business could face: Market Risk: The ups and downs of the current & dynamic economy. In fact, after the pandemic, things have become a little less predictable. Reputation Risk: Social media is indeed bringing customers and businesses closer. However, the downside of such connectivity is the risk of a tampered reputation, especially when audiences jump to conclusions upon hearing anything on the internet. Competition Risk: This is a common risk every business faces. When your competitors launch something new & exciting, there could be a significant shift in sales numbers for you. Environmental Risk: One good example of environmental risk that has previously impacted businesses majorly is the pandemic. Political Risks: The political scenario of your country can have a considerable effect on your business, especially in terms of export-import & business expansion. This is one of the reasons why having a financial contingency plan for managing sudden risk is one of the crucial components of a business financial plan. Business Template For A Startup As promised, we have a business template that will help you take that very first step for your startup. Financial Plan For Startup (Template) Table of Contents 1. Financial Overview: A Financial Overview will consist of a financial overview of your business’s current state. Also, please provide the key points and takeaways of the financial data that you will provide. 4. Assumptions – Market Research: This is the step for market research and predicting the business’s profit potential. 5. Break-Even Analysis: A table or graph which provides information on the number of units your business needs, and how much you need to sell to make a profit. 6. Financial Statements: This will include the following charts. - Profit & Loss (Optional if you have a startup) - Cash Flow Statement (How the monthly cash flow will look) - Balance Sheet (Monthly/Quarterly/Yearly Income & Expenditure) Elements For Your Balance Sheet The following is what your balance sheets should include based on items required: monthly, quarterly, and yearly income & expenditure. Operational Financial Plan Business Location and Facilities Technology and Equipment Key Operational Processes Supply Chain and Inventory Management Management and Organization Financial Plan Organizational Structure Key Management Team Roles and Responsibilities Hiring and Training Plan Financial Plan Start-up Costs (for new businesses like loans, downpayment; collateral, and personal investments) Revenue Projections Expense Projections Cash Flow Statement Profit and Loss Statement Break-even Analysis Funding Requirements and Strategy Funding Needed Purpose of Funds Potential Funding Sources Funding Timeline Key Risks Risk Mitigation Strategies Financial Tools to Ease Your Job In the modern age of technology, you can always lean on tools to automate some of the financial tasks. So, if you need that digital assistance when Begin Your Journey! This is a sign for you to begin your journey as a first-time business owner. Yes, it is overwhelming, and yes it can be intimidating (hence the long procrastinating period!). Creating a financial plan for even a startup can be intimidating. Here is how you can make this journey a little easier. Start with defining your business first. The executive plan is a must. You should know what your business is all about. Then, move through the basic income and expenditures. Take help from professionals in tax advice and create a detailed balance sheet. Finally, consider seeing your whole financial plan in a timely manner. It is important to take one step at a time. Hopefully, we can give you enough answers about a business financial plan. How is your journey going? Please let us know in the comment section below. Read Also: Tax Implications For Independent Event Planners Use Online Event Payment To Streamline Your Payment Process Everything you Need to Know About Term Insurance Plan Premium Financial Planning For Contractors: Ensuring Project Viability

Preparing For A Happy And Healthy Retirement

Healthy Aging: Preparing for Healthy Retirement in Your 40s

As people hit their 40s, many of them start thinking about the future, especially their retirement. It's a time when they begin to contemplate the quality of life they want to enjoy once they bid farewell to the daily grind of work. While envisioning leisurely days and fulfilling experiences during retirement is exciting, it's crucial to remember that good health is the foundation for a happy and healthy retirement. This article will delve into the importance of maintaining good health in midlife and explore how it intersects with the financial side of retirement planning. The Role Of Health In Retirement Planning When it comes to planning for your golden years, health should be a top priority. After all, what good is a hefty retirement savings if you're not in good health to enjoy it? This is where the expertise of a retirement advisor can prove invaluable. These professionals specialize in helping individuals like you prepare for retirement by taking into account various factors, including your health. Prioritizing Your Health In your 40s, it's the perfect time to take stock of your health and make necessary adjustments. Regular exercise, a balanced diet, and proper stress management become even more critical. These habits not only improve your current well-being but also set the stage for a healthier future. Healthcare And Insurance Planning One of the key aspects of health in retirement planning is understanding the financial implications of healthcare. Medical expenses can quickly eat into your retirement savings if you're not adequately prepared. This is where a financial advisor with expertise in retirement strategy can be your guiding light. Retirement Income Planning Retirement income planning is an essential component of securing your financial future. It involves estimating your retirement expenses, including healthcare costs, and then determining how to generate income to cover those expenses. This process may involve various income sources, such as pensions, Social Security, and personal savings. Retirement Planning Services Many financial institutions offer specialized Retirement Planning Services to help you navigate the complexities of planning for your retirement years. These services can provide you with personalized strategies tailored to your unique financial situation and goals. The Cost Of Healthcare In Retirement Here's a closer look at the financial aspect of healthcare planning for retirement. Healthcare costs tend to increase with age, making it a significant consideration in your retirement budget. Here are some key factors to keep in mind: Medicare Coverage Most Americans become eligible for Medicare at age 65, which can provide essential coverage for hospital stays and medical services. However, Medicare doesn't cover all healthcare expenses, and you may need supplemental insurance to bridge the gaps. Long-Term Care Another critical aspect of healthcare planning is considering the potential need for long-term care. Long-term care insurance can help protect your assets in case you require assistance with activities of daily living, such as bathing or dressing. Prescription Medications The cost of prescription medications can also add up in retirement, especially if you have chronic health conditions. It's essential to budget for these expenses and explore options like Medicare Part D for prescription drug coverage. Building A Retirement Nest Egg To ensure a happy and healthy retirement, it's crucial to start building a robust retirement nest egg in your 40s. Here are some strategies to consider: Maximize Retirement Account Contributions Take full advantage of employer-sponsored retirement plans like 401(k)s and individual retirement accounts (IRAs). The contributions you make in your 40s can grow significantly over the years thanks to compound interest. Diversify Your Investments Work with a financial advisor to create a diversified investment portfolio that aligns with your risk tolerance and retirement goals. Diversification can help protect your savings from market volatility. Create An Emergency Fund Life is unpredictable, and unexpected expenses can arise. Building an emergency fund in a high-yield savings account can provide a financial safety net during retirement. Pay Down Debt Reducing your debt load before retirement can free up more of your retirement income for leisure activities and healthcare expenses. Staying Active And Engaged While financial planning is crucial, it's equally important to stay active and engaged in life during your 40s and beyond. Maintaining a robust social network, pursuing hobbies, and staying mentally active can contribute to your overall well-being. Conclusion In your 40s, the journey to a happy and healthy retirement begins with prioritizing your health and making sound financial decisions. Seek guidance from a professional like a retirement advisor or financial advisor who specializes in retirement planning strategies. Remember that maintaining good health is the cornerstone of enjoying your retirement to the fullest, and proper healthcare and insurance planning are integral parts of your financial strategy. By taking proactive steps now, you can set yourself on the path to a fulfilling and prosperous retirement, both financially and in terms of your overall well-being. Read Also: Smart Ways to Invest in Gold How To Start Your Investor Journey: 5 Credible Options To Explore What Investors Should Know about Investment in Gold and Silver Assets

Top Three Investment Platforms For 2023

What Is Meant By Investment Platforms?

Investment Platform Types You Should Know

Robo-Advisors

Platforms For Online Brokerage

Cryptocurrency Exchanges

Platforms For Peer-to-Peer Lending