7 Best Long-Term Investments 2024

Investing can be a great way to secure your financial future - and knowing the best long-term investments this year can help you achieve your financial goals. Whether you're looking to grow your wealth over time or save for retirement, it’s important to stay informed, understand the different types of investment, and make smart investment decisions.

So, what are the best long-term investments this year? That’s what we’ll be exploring today. Read on for our list of the top 7 long-term investments in 2024, from value stocks to art investments.

Why Invest in 2024?

Investing your money this year can help you to secure your financial future and achieve your long-term financial goals. If you invest today, you could grow your wealth over time. Additionally, investing can be a great way to beat inflation and build a solid nest egg, whether you’re looking to save for retirement, buy a house, or save for your child’s education.

Ultimately, simply saving your money may not be enough to keep up with the rising costs. Investing can make your money work for you. Whether you choose stocks, bonds, real estate, or other investment vehicles, putting your money to work in the financial markets can help you build a more secure future.

Investing sooner rather than later also allows you to take advantage of the power of compounding. This is when where your returns generate further returns, leading to higher growth over the long term.

The Best Long-Term Investments To Consider This Year

Now you understand the benefits of investing your money this year, let’s explore some of the best long-term investments.

1 - Value Stocks

• Earnings
• Dividends
• Sales

These stocks are often overlooked by investors, leading to lower prices compared to their intrinsic value. Investing in value stocks can be a highly profitable long-term strategy. This is because these companies have the potential to grow and deliver significant returns over time.

This could be a good choice for beginners, as you can take a hands-off approach when investing in value stocks. That being said, we recommend seeking financial advice from an expert before investing in stocks. An expert can help you determine the right value stocks to invest in that match your financial goals and risk tolerance.

2 - Dividend Stocks

Dividend stocks are another great investment choice for long-term investors this year. These are shares of companies that regularly distribute a portion of their profits to shareholders in the form of dividends. Investing in dividend stocks can provide a steady stream of income, making them an attractive option for long-term investors.

You could also reinvest dividends to accelerate your profits through the power of compounding. Ultimately, if you’re looking for passive income in the long term, investing in the stock market can be a great choice.

3 - Real Estate

Real estate can be a great long-term investment. It offers several profit opportunities - the potential for rental income as well as capital appreciation. This means you could generate regular income through rental payments from tenants, and also sell the property for a higher price further down the line.

Investing in rental properties or real estate investment trusts (REITs) can allow you to benefit from the steady income generated by tenants while also enjoying the appreciation of property values over time. One of the added benefits of real estate investments is that they can diversify your portfolio, ultimately reducing the overall risk of your investments.

4 - High-Yield Savings Accounts

Although savings accounts aren’t traditionally considered an investment, they can be a valuable tool when investing for the long term. This is especially the case if you have a shorter time horizon or a lower tolerance to risk.

High-yield savings accounts offer a higher interest rate than traditional savings accounts, which means you can earn more on your savings. Over time, these interest payments could add up and significantly add to your savings. Additionally, high-yield savings accounts provide stability and liquidity, making them ideal if you have emergency funds or short-term goals.

5 - Exchange-Traded Funds (ETFs)

• Low fees
• Diversification
• Easy to understand

Ultimately, ETFs can give you exposure to certain sectors or regions of the market without having to conduct hours of research, or without having to be a stock-picking expert.

6 - Alternative Assets

• Commodities
• Cryptocurrencies
• Private Equity
• Collectables
• Whiskey and wine
• Many more

Alternative assets offer unique investment opportunities outside of traditional investment routes such as stocks and bonds. Alternative assets could be a good choice whether you prefer short-term investments and long-term investments.

Although alternative investments could carry higher risks, they can also provide higher returns - and be a great way to diversify your portfolio. If you’re a long-term investor with a higher risk tolerance and you’re looking to enhance your portfolio over time, alternative assets could be a good choice for you.

7 - Art Investment

Finally, we have art investment. Historically, the art market was only open to a select few. However, in recent years, the art market has become much more accessible - with Grove Gallery, you can invest in art with as little as £3,000. If you’re looking to invest for the long term, diversify your portfolio and generate potentially high returns over time, art can be a great choice.

We recommend that you conduct thorough research and consider seeking professional advice before investing in art. An art advisor can help you to determine the right pieces for you and guide you through your investment journey. Invest in up-and-coming or emerging artists can come with higher risk, but potentially higher returns.

However, if you’re looking for a safer option, we recommend investing in art from blue-chip artists. Art from the likes of Warhol, Banksy and Picasso may have a higher cost, but offer higher levels of predictability on the art market.

Begin your art investment journey with Grove Gallery today, and expect yearly returns of up to 12%.

Final Note

Choosing the best investments in 2024 can be tough, and requires careful consideration of your financial goals, risk tolerance, and time horizon.

Whether you prefer the stability of dividend stocks, the potential for growth in real estate, or the diversification offered by art investment, there is a wide range of options available to suit your investment needs this year.

Developing a sound investment strategy and staying disciplined over time can enable you to build your wealth and achieve your financial goals.

Remember to consider factors such as the cost of investing, tax implications, and your own personal circumstances when making investment decisions, and consult with a financial advisor before making any large investment decision.