The stock market is the right place to start
Many investors’ retirement accounts are focused on stocks, with young investors typically exposed to growth stocks in target dated funds, and older investors with greater bond exposure.
While 401K programs and similar offerings from employers are a great start, many financial experts believe that millennials will need between $3 million and $4 million to retire comfortably, given current inflation rates.
For those looking to grow their wealth on the stock market, finding a great brokerage platform is the first step in setting up an investment account for retirement savings.
For example, moomoo is a robust trading platform designed for individual investors, offers expert market insights and low fees, with comprehensive investor support.
Its advanced charting tools, pro-level analytical features, and strategic partnership with Nasdaq make moomoo users better able to navigate the markets with confidence.
For a limited time, new customers are eligible for a welcome bonus of up to 15 free stocks on qualified deposits.
Don’t forget about alternative assets
While the stock market is a natural place to invest one’s capital, there are plenty of other assets that act as inflation hedges and are worth your consideration. Charlie Munger is among the investors who have been known to spread their wealth over various asset classes, and in different markets.
A quick look at his holdings in his other company, Daily Journal, shows some exposure to foreign assets. And he’s talked about diversification as well for his own personal journey (so long as it’s not “deworseification”), something you may want to consider.
For instance, you may not think of fine art as the most the accessible alternative asset. Not everyone has the time — or cash — to sit an auction and wave a paddle for the highest bid.
However fine art tends to be a solid investment over time as its value remains generally more stable compared to market fluctuations.
If you want to dip your toes into the art world, Masterworks is a top platform for retail and accredited investors to invest in pieces of fine art that may otherwise be unattainable, due to the astronomical prices these pieces are sell at.
Masterworks gives you the ability to invest in fractional shares of blue-chip contemporary art — that means paintings by artists like Banksy, Picasso and Basquiat — allowing investors to own a truly diversified portfolio of alternative assets.
Once you join the Masterworks community of more than 280,000 members, you can tap into a whole lot of data and insights and use them to guide you in choosing the art you want to put your money into.
Real estate is another well-known tool for diversifying your portfolio.
For those looking to grow their real estate portfolio, as Munger and other institutional investors have done, you can invest in income-generating properties with Arrived.
Backed by world-class investors including Jeff Bezos, Arrived allows investors to buy shares of vacation rentals and long-term rental homes in key markets around the U.S., without the headaches of purchasing property or being a landlord.
With Arrived, you can browse a curated selection of homes, each vetted for their appreciation and income potential.
Once you find a property you like, simply choose the number of shares you want to buy and start investing in real estate with as little as $100.
Another great inflation hedge over time has been gold. While you can always buy gold coins directly from a bouillon dealer, opening up a Gold IRA may be a better long-term option. This individual retirement account allows you to invest in gold and benefit from the tax advantages of an IRA.
Thor Metals is an industry leader in precious metals and authorized dealer for the U.S. Mint.
By opening a gold IRA with their help, you have the opportunity to diversify your portfolio and stabilize your finances in the face of persistent inflation.
"The beauty of it is: you only have to get rich once. You don't have to climb this mountain four times. You just have to do it once," said Munger. A proven savings vehicles can help you ride out market uncertainty and make sure your retirement nest egg is secure.
