New data reveals one third of Gen Z Americans feel 'insecure' about money and they need a whopping $171K/year to feel 'financially healthy' — how do your expectations compare?

Protect and boost your savings

The Personal Capital survey found that 58% of Americans are putting away more into their short-term savings and retirement savings, but with the economy in such a volatile state amid high inflation, your 401(k) or IRA could be at risk.

A gold IRA is a great alternative to protect and grow your nest egg. Unlike the U.S. dollar, which has lost 87% of its purchasing power since 1971, gold's purchasing power remains stable over time.

One way to invest in precious metals is with a gold IRA. This retirement account can help you protect your nest egg by allowing you to invest directly in physical precious metals rather than stocks and bonds.

American Hartford Gold is an industry leader in precious metals, boasting an A+ rating from the Better Business Bureau. By opening a gold IRA with their help, you're looking out for your future self and cushioning your retirement. If you invest with American Hartford Gold, you can receive up to $15,000 in free sliver.

And if you’re looking to maximize the potential of your accessible cash, no-fee checking and savings accounst with SoFi might be just what you need.

Instead of losing out, you can earn up to 4.60% APY on savings balances – which is up to 10x the national average — and 0.50% APY on checking balances.

With SoFi, you can enjoy no-fee overdraft protection, early paycheck deposits and access to over 55,000 ATMs within the Allpoint network.

Speaking of deposits, sign up now and get a bonus of up to $300 for setting up direct deposit.

This 2 Minute Move Could Knock $500/Year off Your Car Insurance in 2024

Saving money on car insurance with BestMoney is a simple way to reduce your expenses. You’ll often get the same, or even better, insurance for less than what you’re paying right now.

There’s no reason not to at least try this free service. Check out BestMoney today, and take a turn in the right direction.

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Deal with your debt

"Regardless of the number on your paycheck, avoiding high-interest debt and saving a meaningful percentage of your income can put you in a better spot in the long run," says Lacey Cobb, director of advice solutions at Personal Capital.

Depending on how much interest you pay on your credit cards, a personal debt consolidation loan could save you thousands.

A debt consolidation loan puts all your existing debt into one payment that's often at a lower interest rate than you're currently paying. You'll still have to make monthly loan payments, but they should be more manageable and the lower interest rate means you'll pay less overall.

Credible is a free online service that shows you personal loan options from vetted lenders that could save you ton in interest. Checking rates won't affect your credit score, plus it's free.

Take control of your portfolio

Once you've got your debt under control, think about how to make the best use of your money.

While investor sentiment may be low right now, Craig Birk, chief investment officer at Personal Capital, advises against panic selling your investments. Instead, leverage the expertise of a stock advisor can be instrumental in helping you make informed decisions.

For those seeking guidance on the best way to allocate your capital, platforms like Moby offer trusted investment tips and insights. Moby simplifies complex investment research, providing access to top-tier stock and crypto reports, all crafted by former hedge fund analysts.

With their easy-to-understand formats, you can become a wiser investor in just five minutes, backed by a 30-day money back guarantee.

Once you’ve leveled up your stock expertise, it’s time to check out new investment platforms to ensure you’re getting great value and support when making trades.

With Robinhood’s easy-to-use investing app, you can easily buy and trade stocks, options, exchange-traded funds (ETFs), cryptocurrencies.

Robinhood doesn’t charge a commission to trade stocks and you can buy fractional shares, allowing you to invest the way you want to, without pesky extra fees.

With features like automatic investing, in-app investing guides and 24/7 access to their customer service team, Robinhood makes it easy to diversify your portfolio with stocks whose earning potential might grow over time.

Discover How a Simple Decision Today Could Lead to an Extra $1.3 Million in Retirement

Learn how you can set yourself up for a more prosperous future by exploring why so many people who work with financial advisors retire with more wealth.

Discover the full story and see how you could be on the path to an extra $1.3 million in retirement.

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Alternatives to the stormy stock market

Don’t forget there are also plenty of investing opportunities outside the stock market. Alternative investments have traditionally been exclusive to ultra-high-net-worth individuals, but new platforms are making it easier and cheaper to buy in. These platforms make more affordable to tap into assets like real estate or fine art, that can offer stability and growth, especially in uncertain economic times.

A creative alternative

Real estate is far from the only asset available to you. You can also embrace your artistic side as an investor.

Contemporary art has outperformed the S&P 500 by 131% for the past 26 years, and it has a near zero correlation to stocks, according to Citi.

Masterworks, an innovative investment platform, allows more investors to access this valued asset – once reserved for the ultra-rich. Instead of purchasing a single painting for millions, you can invest in fractional shares of iconic works by renowned blue-chip artists from Basquiat to Banksy.

It’s simple to get started. 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. Choose the number of shares you want to buy, and Masterworks will handle the rest, making elite art investments both accessible and easy.

Real estate

For example, adding real estate to your investment strategy allows you to benefit from the potential for steady income and long-term appreciation while reducing your exposure to stock market volatility. If you're looking to tap into the investment potential of real estate but don't have the funds for a traditional down payment, consider exploring platforms like CityFunds.

Here’s how it works: The company allows you to invest in portfolios of owner-occupied homes. In exchange for the cash, Cityfunds secures an interest in the home's future value. As the home value appreciates, so does the value of Cityfunds equity investment alongside the homeowner.

With a community of over 10,000 users, CityFunds allows you to benefit from the $20 trillion home equity market across various major U.S. cities.

So you can invest in the housing market of a city you love for as little as $500, without having to deal with high home prices, an expensive mortgage or the hassles of being a landlord.