By Faten Omar

KUWAIT: There is never a bad time to start investing, as it is difficult to know what the future holds. After the COVID-19 pandemic led to a financial crisis, many families started to invest in their future. Kuwait Times spoke with citizens and residents to learn more. Salman Al-Qatan believes the future is in cryptocurrency and it will replace traditional fiat currencies in the future.

"Cryptocurrencies are not subject to inflationary pressures, can be used anonymously and have the potential to provide a high return on investment," he said. He affirmed that despite the risks, if people invest in the right cryptocurrencies, the value of the investment may increase much more than if they invested in stocks only.

For Abdullah Wael, the stock market is worth studying due to its huge returns - if people buy the right stocks. "The stock market is full of options. It can be affordable, so people can buy more in the future. If the investment is for over at least 20 years with continuous stock dividends, you can actually end up with some great money for your retirement, children's college expenses, weddings or other expenses," he explained.

There are different areas for investing money. Mai Al-Nosairy sees that gold was and still is the best and safest investment. "Gold allows you to save money for your future. Other options are risky and could lead to losing all your savings," she said. She told Kuwait Times that gold was her mother's and grandmother's technique to save money, where it can be bought at the lowest rates and sold years later when money is needed.

Buying property for rent is also a smart investment. Masha Khaled affirmed people will be able to generate income from tenants while holding to the building value over time. "Rental properties can be a great way to diversify your investment portfolio and protect you from the volatility of the stock market. In addition, if you can find a tenant who is willing to pay higher rent than the mortgage payment, you will be able to achieve a stable income every month, and be able to sell once the value of the land gets higher," she added.

"There are also many properties inside and outside Kuwait worth checking out for real estate investors. These are a few of the best ways to invest your money in 2023, away from risky methods. With so many options available, it's important to do your research and choose the right investment for you. Also make sure to diversify your portfolio to reduce risk and not invest in something you do not understand," Khaled pointed out.