It’s difficult to discover which industries are destined for a bright future. No one knew the internet was going to be such a phenomenon until it was too late. It didn’t take long for the internet bubble to burst, leaving thousands with less money than they started with. That’s why it’s not only important to know which industries to invest in, it’s equally important, if not more, to know when to invest.
Here are the best industries to invest in this year.
Construction companies are always going to be able to turn a profit. Even if new buildings are being built by the plethora, buildings will need repairs and these repairs will stimulate the entire industry. If you want to get involved in the construction business, you could invest directly into lucrative looking companies; however, you can also invest in companies that provide resources for the industry, like Caterpillar and other equipment companies.
2. Financial Industry
Trump plans on rolling back Obama era banking regulations. These regulations were created post-recession and were intended to prevent another crash. However, with today’s current economy, many of these regulations are no longer needed. This means good news for banks and other financial institutions.
3. Digital Currency
Cryptocurrency is still on the rise. The best time to invest in cryptocurrencies may be behind us, but this doesn’t mean it still isn’t a lucrative investment.
Both medical marijuana and recreational marijuana are big money in the foreseeable future. Investing in this industry is a surefire way to see incredible returns on your money.
5. Alternative Energy
Solar panels are getting cheaper and cheaper. This means that consumers can finally get their hands on what was at one time too expensive. Power plants are even looking to outfit their facilities with renewable energy sources. This means big bucks for the alternative energy industry.
6. VR & AR
It could be a short lived trend; it could be the future of entertainment. This one may be a bit of a gamble, but if it pays off, it will pay off well. According to Reuters, the virtual reality industry alone will reach $40 billion by 2020.
7. Elder Care
People are living longer and longer as new methods, medicines, and procedures are discovered in the medical industry. This means the elder care industry could see a boom in the foreseeable future.
Future wars could be fought over the internet rather than on the battle field. We’ve already seen foreign countries attack us through the web, and the problem could get much worse. Cyber-security revolution is needed more now than ever. Investing in this industry is a safe bet.
No one knows what tomorrow holds. New ideas are constantly being made a reality, and you could invest in a start up of your choice. Who do you think will have the next big idea in tech?
Going with any of the industries mentioned above is likely to net huge profits. Some new industries are making waves; some have been around for a century. You can’t go wrong with investing in construction or real estate; however, new ideas, while more of a gamble, could pay off greatly in the near future.