3 ways to use your cash to build wealth and support your community - Business Insider

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The financial planner had one client who paid a local bakery enough to reopen and deliver treats to friends and family on her birthday, injecting some needed cash into the community

, I've seen several of my clients make thoughtful moves with their money over the last few weeks.

If you are among the lucky ones, there are three smart things you can do with your money right now to support your community and build wealth.Last year was a great one for the economy, and one that benefited most professionals financially.

You too can donate your money or goods to a cause that aligns with your values: a kids' shelter; a food bank; an animal shelter; or even a hospital. There is a great need for resources in all sectors affected by the coronavirus.The stock market has been unpredictable this season — when economic indicators have been negative, we've seen the major indices reach positive highs and vice versa.

Not being able to control the market's volatility and wanting to grow her financial independence fund, a client with extra cash did not want to put more of her hard-earned dollars in the stock market. She was looking for investments that were lower risk than her stocks but still allowed her to build wealth. from solid corporations that are projected to grow in this economic crisis. We chose mostly blue-chip companies in the healthcare and technology sectors.

 

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