This year, those who favor buying property were the clear plurality with 36% of the vote. Stocks and mutual funds came in at 22%, gold at 18% and savings accounts and certificates of deposit at 13%. Only 4% of Americans would choose bonds, and 3% opted for cryptocurrency.
"If we're talking about long-term investing, the question is, what is the goal of the end investment?" says Nick Foulks, an advisor and director of communications strategy at Great Waters Financial. "Am I trying to produce income? Am I trying to produce wealth? Am I trying to produce security? It's tough to say what the best long-term investing option is without knowing the desired outcome."It's worth noting that Gallup's poll uses some amorphous terms.
From the beginning of 1990 through April 2024, the S&P CoreLogic Case-Shiller U.S. National Home Price Index, which measures residential real estate values, has risen by 308%. Home prices, in other words, have quadrupled over the last three decades."You can't negate the compounding power of stocks over the long term for any investor, especially young investors," says Andrew Briggs, a wealth manager and director of portfolio management at Plaza Advisory Group.
Yet, in Gallup's survey, real estate is an even bigger winner relative to stocks among those who could least afford a home. Among Americans making less than $40,000 per year, 33% choose real estate as their No. 1 long-term investment. Gold comes in second place with 23% and savings accounts and CDs round out the podium with 20%. Just 14% chose stocks and mutual funds.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: nbcsandiego - 🏆 524. / 51 Read more »