Keeping your money on your bank account is safe and a wise decision to make especially if it’s bearing an earning interest rate while you have to consider the other method of collecting money in order to secure your future needs to a greater extent, that’s how investing will accede your income.
You know it is important to diversify your portfolio. As a money manager, there are few ways to complete the diversification of your portfolio that are as effective as foreign investments. Instead of focusing on investments in one country (and in an economy that may be having problems), you can further diversify your investment holdings to include foreign investments
Investments that are funded with after tax income and are taxed each year based upon capital gain or income tax rates. This would include stocks, mutual funds, CDs, savings accounts, etc…
A good place to start your retirement income planning is recognizing those things over which you have some control and can change, and acknowledging those issues that you can neither control nor change. You cannot control or change the global stock market, inflation, bank interest rates, increases in health care costs, or the cost of gasoline
Adopt an investment plan especially tailored for your needs. You know your spending habits best and what major expenditure you will have in the near future. You have a precise idea about your income and the value of the assets that you have. This should be enough to help you come up with a plan for your investments.
The strategy is to use the percentage (or weighting) of each of your stock holdings to the total portfolio value, including any cash holding, as a guide to re-balancing your holding of individual stocks over time as the market recovers.
Ensure you have an excellent property manager, and they will screen your tenants to avoid issues like this, and ensure that you have landlord insurance in place, which covers loss of rent from malicious damage from tenants.
An easier way to properly diversify by geography is through straight ETF investments or, for someone who wants to have a hands-off relationship with their non-domestic/core investments, through global or region-specific mutual funds.