5 Places I’m Putting My Money in 2020
With the new year underway, reevaluating your financial picture should be one of your top priorities. In fact, since writing the 2019 version of this article, Americans’ financial picture hasn’t gotten any better.
- 74% of Americans are living paycheck-to-paycheck
- 40% don’t have the cash to cover a $400 emergency expense
- 69% have less than $1,000 in savings
- Half of all households have no access to an employer-sponsored 401(k)
- And nearly a quarter of U.S. adults have absolutely nothing saved for retirement
Of course, now that it’s an election year, we’ll probably be hearing quite a bit about the roaring economy, measured primarily by the success of the stock market. But what you probably won’t hear about is how nearly half of Americans don’t own stocks at all, and of those that do, the bottom 80% control only 6.7% of the market’s value.
So if you don’t want the wealthy few to be the only ones earning free cash, here are the five places I’m recommend putting your money this year.
1. An S&P 500 Index Fund in a Roth IRA
This was my best-performing investment vehicle of 2019, and it’s also my most traditional method for socking away cash.
