It’s tempting to chase the latest trend when deciding where to invest, but private equity fund manager and real estate investor Grant Cardone said that this is the wrong approach.

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“Don’t chase the trends because every week there’s a different one,” Cardone, who will be hosting the 10X Wealth Conference in Miami on May 16-17, told GOBankingrates. “There was gold two weeks ago, silver a week ago, oil this week. Don’t chase trends.”

Instead, focus on assets that have long-term growth potential. Here are the two Cardone recommended investing in this year.

Cardone recommended investing in real estate that will generate cash flow from rental income. If investors don’t have enough cash to invest, he recommended utilizing funds from a retirement account.

“I would take my retirement account and self-direct it into a real estate deal that cash flows and let it be my retirement income 30 years from now,” he said. “The greatest retirement hack in the world is to convert a retirement account invested in stocks into a stable asset that cash flows.”

According to Cardone, real estate offers both capital protection and income that can grow over time.

“You protect your capital and get the cash flow, and those rents grow over the next 30 years,” Cardone said. “In 30 years, when you’re ready to retire, you’re withdrawing cash flow; you’re not withdrawing the actual capital.”

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While there is significant buzz around investing in artificial intelligence, Cardone believes energy is the stronger long-term bet. That can include energy-related stocks or energy ETFs. He pointed to consistent demand as the key reason.

“Energy’s going to win, even if AI fails, because they’re going to need energy to make the AI work,” he said.

Regardless of the asset, Cardone emphasized concentration and patience over short-term market timing.

“Pick one thing or two things, and go long term on it,” he said, “and don’t worry about 2026.”

Editor’s note: This article is for informational purposes only and does not constitute financial advice. Investing involves risk, including the possible loss of principal. Always consider your individual circumstances and consult with a qualified financial advisor before making investment decisions.