Just about everyone knows that they should be making investments. After all, the more money you invest now and over time, the more financially stable you're likely to be in the long run. 

But if you're not a market expert, you may not know where to start. After all, there are a wide variety of investment vehicles, each with its own set of pros and cons. 

As an investor, your goals are likely to make as much money as possible while managing your risk. But what exactly does that mean from an asset allocation standpoint? What investments should you make in 2024?

Open a CD to earn more from the cash allocation in your portfolio. 

Best investments to make in 2024

So, what are the best investments you can make in 2024? Here are a few ideas to consider: 

Gold

Gold has a long history as an investment vehicle, and investors often use the asset to bring stability to their portfolios. That's because gold has two meaningful safe-haven qualities: 

• Inflation protection: The price of gold typically rises with inflation. As such, when you add gold to your investment portfolio, it can protect you from losing buying power as prices rise. 
• Market volatility protection: When the stock market takes a turn for the worst, investors tend to sell their riskiest assets and move their money to safe havens — like gold — to protect their portfolios. This usually leads to an increase in gold demand, which can cause its price to climb. As a result, the commodity is known for helping to offset losses during bear markets. 

Because of these qualities, experts often suggest allocating up to 10 percent of your investment assets to gold.   

Learn about your gold investing options now. 

Highly diversified ETFs and mutual funds

Individual stocks can be difficult to choose and even more difficult to keep track of. However, exchange-traded funds (ETFs) and mutual funds can give you diversified exposure to the stock market. 

In fact, Mark Charnet, founder and CEO of American Prosperity Group, says, "If you don't know which stocks to buy, a mutual fund has your name on it."

Charnet suggests that you invest in funds regularly. 

"The best way to purchase funds is systematically, every week or ten days, or at least monthly," says Charnet. "I would look to purchase aggressive tech domestic or foreign tech funds. Since the goal is to purchase weekly or monthly, the decision to purchase should be automatic, consecutive and never-ending." 

No matter which sector you choose to invest in, the key is to invest now and to make contributions regularly. In doing so, you'll build your wealth while taking advantage of the power of compounding stock market gains. 

CDs

A certificate of deposit (CD) may also be a worthwhile investment vehicle, especially considering today's high returns. When you open a CD, you agree to keep your money in the account for a predetermined period. In exchange, the financial institution you open the account with agrees to pay a fixed rate of return for the entire term of the account. 

Many of the best CDs on the market today offer returns of over 5%. And aside from the market volatility protection these accounts come with, they're also typically FDIC or NCUA-insured for up to $250,000 per depositor, per account, making them safe investment vehicles. 

Remember to diversify your investments

Most investors shouldn't choose just one or two assets to invest in. Instead, a highly diversified portfolio is key. Diversification means that your assets, and therefore your risks, are spread across a wide range of investment vehicles. Some of those investment vehicles should be on the riskier side of the equation while others should be on the safer side. 

One rule of thumb for choosing your investment allocation is to use your age as your portfolio's safety percentage. For example, if you're 35 years old and you have a $200,000 portfolio, 35% of your money ($70,000) should be allocated to safety plays like gold, CDs and bonds. You should invest the other 65 percent ($130,000) in stocks and other high-growth investments. 

As you age, your portfolio's balance will lean more heavily toward safer investments, offering more protection as you near retirement. 

The bottom line

A quality investment portfolio has a strong mix of multiple assets. That way, if one asset experiences losses, the gains across your portfolio make it easier to take the hit. If you're not sure where to start, consider looking into gold, highly diversified investment funds and CDs. If you're still unsure, consider reaching out to an investment advisor for personalized advice.