When looking for new opportunities, searching for profitable industries to invest in can be a solid strategy. Here are the top 7 industries to invest in 2019.

Do you invest in the stock market? If you’re between the ages of 18 and 34, you probably don’t.

According to the latest polls, only about 37 percent of individuals in this age bracket invest in the stock market. The same is true of 61 percent of individuals over the age of 35.

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If you’re not investing in the stock market, are you investing in anything at all, such as real estate? If not, what’s holding you back?

Maybe it’s the fact that you don’t know where to invest your money. If this resonates with you, keep reading.

Listed below are seven of the best industries to invest in this year.

Benefits of Investing

Before we get into specific ways to invest your money, let’s go over some of the benefits that come with being an investor.

If you’re still on the fence about investing, consider these perks:

  • Get ahead of inflation rates and increase the value of your money over time
  • Increase your wealth at a faster rate
  • Add more money to your retirement account and increase your chances of retiring early
  • Reduce your tax bill
  • Meet other financial goals faster

Investing can also help you to get control of your spending habits. You can make your money work for you and avoid spending it on things that don’t really matter.

Best Industries to Invest in This Year

Clearly, it’s a good idea to become an investor. Where should you invest your hard-earned money, though?

Start by considering one (or more) of these growing industries.

1. Elderly Care

This might come as a surprise, especially if you’re a relatively young person. Elderly care is actually a booming industry, though, and now is the perfect time to invest in it.

The world’s population, as a whole, is getting older, and it’s expected that there will be more than 2 billion people over the age of 60 by the year 2050. These people will account for roughly 22 percent of the world’s population.

With so many people reaching advanced age, there will be an increase in the need for people and facilities to care for these people.

When you’re looking for stocks in the elderly care industry, be on the lookout for companies that cater to the elderly, as well as pharmaceutical companies that make drugs for elderly individuals.

2. Cannabis

With more and more states throughout the country legalizing cannabis, now is the time to invest in this booming industry, which is expected to reach a $146 billion valuation by the year 2025.

Remember that cannabis is being legalized at a rapid pace throughout the rest of the world, too. In a global market, it’s important to pay attention to the trends in other countries, too.

When investing in cannabis, pay attention to pharmaceutical companies, as well as those that are creating technology to make the cultivation of cannabis more efficient.

3. Financial Technology

Technology is always a safe bet as far as investment goes. Financial technology, also known as FinTech, is an especially good sector in which you might want to consider investing.

Pay special attention to companies that offer robo advisors and automated systems dedicated to helping more people invest and save for retirement.

There are also many companies dedicated to disrupting the insurance industry and changing the way people purchase insurance coverage. Keep an eye on these companies, too.

4. Cybersecurity

With news of hacking and cyber attacks coming out on an almost daily basis, more people are becoming aware of the importance of cybersecurity.

The demand for devices and products that protect people’s information online is increasing, and it’s not likely to decrease any time soon.

Now would be a great time to invest in some cybersecurity firms.

5. Artificial Intelligence

Artificial intelligence is another booming industry that every smart investor should be looking into.

Artificial intelligence research has been taking place for years, and companies are now starting to roll out incredible products that customers can use for both function and entertainment.

Keep an especially close eye on companies that are creating AI that is meant to be used in hospital settings.

6. Health Care

Health care is always a safe option when you’re looking for reliable industries in which to invest.

No matter which way the market goes, people always need to go to the doctor and purchase medications.

Within the health care sphere, the pharmaceutical industry is an especially safe place to invest your money.

Hospitals, medical instrument makers, insurance companies, and biomedical companies are also safe investments.

7. Oil

If you’re looking for a lucrative industry in which to invest, you definitely ought to think about oil investing. Oil investing is known to yield very high returns, and abundant reserves can gain a profit within just a few months of discovery.

There are also tax advantages associated with oil investing. About 15 percent of your oil shares can become tax-sheltered income.

Oil investment also helps to protect your finances during slow economic times. This is because the price of oil is, in most cases, inversely related to the state of the economy.

Tips for Beginning Investors

Now that you know which industries to invest in, you might be wondering if there’s anything you should know to ensure you actually profit from your investments.

Here are some tips for beginners that you ought to keep in mind:

  • Play the long game; trust the process and let your investments sit
  • Only invest in industries that you understand
  • Remove emotion from the equation and don’t overreact to bad financial news
  • If you make a mistake, learn from it and move on

Keep these guidelines in mind, and you’ll be much more likely to see significant returns from your investments.

Looking for More Investment Advice?

As you can see, there are a lot of great industries to invest in this year.

Whether you’re interested in oil, cannabis, or any of these other industries, now is a great time to become an investor.

Are you interested in learning about other great investments for beginners? If so, we’ve got tons of helpful articles in the finance section of our website.

Start with this article on 10 stocks that are currently on the rise. Any of these stocks would be a good option for a first-time buyer.