Whether you’re a business owner or an employee, you may believe your source of income insufficient to reach your financial goals. As we saw during the pandemic, even the most stable jobs and businesses must be shut down during trying times. The pandemic is indeed a rare event. But the all-time high inflation and the fluctuating economy are enough reasons to have a plan B. In such a situation, investing your money is the best way to ensure financial security. However, finding the best way to invest your money with countless options can be quite challenging.

This is especially true for people from California, a state known for its diverse economy with plenty of investment opportunities. But if you’re from California and are looking to make some money off of investing, here are five of the best ways you should follow in 2024.

Invest in real estate

When it comes to investing in California, real estate may be one of the most suitable options. Property value in California is especially known to appreciate over time, providing you with a solid return on investment. You can then find out information about different properties to purchase, whether residential or commercial. Small homes are typically the best choice. However, you can also invest in real estate through Real Estate Investment Trusts.

Unfortunately, when it comes to selling your property in California to earn your profits, some issues can arise regarding taxes. California has imposed a state tax on the sale of residential properties you have lived in. If you do not qualify for the exemption and lack a good understanding of taxes, it’s easy to lose a significant amount of money. It would be best to hire a tax expert who can guide you about avoiding California tax on home sale and ensure a safe real estate investment.



Compared to other investments, cryptocurrencies are considered quite risky as they are not backed by the US government and are known to be incredibly volatile. However, the same reason that makes them a risky investment also makes them a potential high-profit investment. After all, being volatile means that cryptocurrency not only drops in value but can also increase in value rapidly. For example, the price of one bitcoin in September 2020 was about $11,000, and it increased to $58,668 in March 2021.

As a result, given that you invest a safe amount of money into cryptocurrency, it can sometimes yield massive profits. Considering that more companies are beginning to accept crypto as a form of payment, its value may increase rapidly in the coming years. This means 2024 may be the best time to invest in cryptocurrency.

Furthermore, putting aside the volatility of cryptocurrency, it is a secure investment. Any cryptocurrency investment is protected through cryptography and blockchain technology. So you don’t have to worry about theft. More importantly, cryptocurrency is decentralized and is not controlled by any government or bank. As a result, it is resistant to inflation and other economic factors that may affect other types of investments.

Certificates of deposit

A certificate of deposit or CD is like a special savings account. You can place your money in a CD for a period ranging from a few months to a few years. For this set period of time, the bank takes hold of your money. In return, the bank offers a higher interest rate than you would typically get in a regular savings account. As a result, you can collect a good amount of profit when the time for the CD ends.

CDs are known to have low-risk investments compared to other types of investments. The money you put into a CD is insured by the Federal Deposit Insurance Corporation (FDIC) in the US. So, even if a bank fails, your money won’t be affected, and you can get it back. Additionally, CD rates are unaffected by market volatility and remain fixed.

During periods of economic growth, CD rates increase significantly, so you can expect a good return on investment. From 2016-2018 CD interest rates grew by 400%. However, you cannot access your money before the CD matures. To do so, you will need to pay a penalty fee. So, before opening a CD, ensure you do not need the money before it matures.

Treasury bills

If you are looking for a safe investment that can make a good profit, treasury bills are your best option. They are fully backed by the US government as you will be lending your money in the form of treasury bills or T-bills to finance its operations. The maturities of a T-bill can range from a few days to a year. When the bill matures, you can receive the money you invested in addition to the interest you will collect as profit. What’s best is that you can sell your T-bill without paying a penalty even if it has not yet matured, unlike CDs. This means T-bills have a low liquidity risk attached.

To start investing in treasury bills, you can use the TreasuryDirect Portal, a convenient way the US government designed for T-bill investment. However, another way to purchase T-bills is through banks or brokers. When you want to sell T-bills, you can do so through the same portal, online marketplaces, banks, or brokers.

High-yield savings account


As the name suggests, a high-yield savings account offers a higher interest rate than a traditional savings account. Once you open a high-yield savings account, the bank uses your deposited money for investments and is able to provide you with a high rate of interest on your money. However, you don’t need to worry about losing your money. Even if the bank fails, you will be able to get your investments back as high-yield savings accounts are insured by the FDIC.

You need to contact a bank to invest in a high-yield savings account. However alternatively, you can also open a high-yield savings account through credit unions, online banks, and fintechs. It’s best to find the best interest rates available to make the most out of your investment. You should also ensure the financial institution opening your account is insured by the FDIC.


Considering the high inflation rates and the unpredictable economy, securing a stable financial future is crucial. As a result, focusing on investment should be made a priority in 2024. However, investing can indeed be quite risky as people often lose their money. But if you follow the right ways and act smartly, it’s possible to avoid financial instability easily.