There are some more substantial and tangible ways to invest your money. So, let’s take a look!
What a strange place to start you might think, but not really. Wine tends to increase in value as it ages. Chateau Lafite sold for a hefty $156,450 in 1985, the wine itself was from 1787, showing that fine wine can really be your meal ticket. To make this successful, you’ll need to be prepared to put in some hours to learn about what makes a wine tremendous or rare. It is all in the details – where was it from, what year, how has it been stored and where you got it from. And if all else fails, you’ve got some very nice wine that you might like to just… enjoy with a nice meal.
Very few of us manage to get through life without racking up a little bit of debt, while minimum repayments might be your idea of fixing this, the chances are that you are just covering the interest. Which means you’ll never really pay this off unless you make some changes in how you are approaching it. While it might not sound like an investment on face value, actually it is one of the best ones you will make.
This might be a little confusing, as technically buying land doesn’t earn you a monthly income, and nor does it really do anything. However, by purchasing popular residential land, you might find a little flip is going to earn you some decent cash. Part of the joy of owning a piece of land is that you don’t have to do anything to it or with it, all you need to know is – can someone build on it? If so, you are free to sell the land on to someone who really wants it. It doesn’t cost you anything once you own it, you might have to take care of the upkeep depending what it might be near. Sometimes, you might have purchased a piece of land that happens to be ‘in the way’ of a large corporation that wants to build – kerching!!
Become a Partner
If you have some money and want to do something to help someone and grow your assets, why not consider putting your cash into owning a chunk of a business. Small business owners can struggle to find a bank that is willing to give them a loan, and this means they have to fight to expand – even if they are doing really well. If you chose to be a silent partner, you can keep an eye on how everything is going, without being hands on. In the end, if the company is sold, your investment could pay off handsomely. Try to avoid investing in a friends business, unless you are sure that you can keep the business and your friendship separate – it can get very messy.
This covers a wide variety of investments, and some of them won’t pay off at all. Spend some time looking at what you think you’d like to invest in – in the world of collectables. Artwork, antiques, coins, toys and jewelry. This one isn’t one you should sink all your money into a piece and hope for the best; it is more like buy a few select items that you know have a captive audience and will sell. Ideally, you would choose something that you already know a bit about or that you like already – it is easier to learn about something you love. Whenever you can make sure that you get proof that the item you are considering purchasing has a certificate of authenticity with it. It will be helpful when you come to sell it on.
Bricks and Mortar
As long as there have been homes, there have been people who specialise in buying them, fixing them up and selling them on for much more than they paid. If you like to get heavily involved in projects and either have a lot of time or a lot of money then flipping houses and buildings might be for you. You can pick up a starter project at an auction, but do some research on the property because sometimes they come with a lot more issues than the photo might hint at. Now and then, the prices of real estate booms, and when that happens even the smallest of properties will see a nice profit.
Gold is a trendy choice for people who want to purchase something that tends to hold value pretty well. Although it might look like precious metals aren’t too reliable concerning prices – that isn’t really true. Aside from having the bonus of being something you can touch – which stocks and shares don’t, it can also be purchased in smaller amounts if that is what your budget allows for. And, imagine that suddenly money was obsolete, the chances are gold, and silver would have even greater value.
Diamonds and other precious gems are worth some consideration here too. Certain types of diamonds have held their value better than many different types of equity investments. There are a few ways you can invest in these beautiful gems, you can purchase the rocks directly, or you can buy shares of diamond mining companies or invest into diamond funds. What makes diamonds unique to gold, is that while gold can be weighed and priced by the going rate, each diamond will have individual pricing. So it is an exciting investment to make, and once you learn about what makes a great diamond or a rare one, you’ll really enjoy this one.
Of course, when it comes down to it, the best investment will always be in yourself. If you stack this one up against some of the others, you are likely to get a more significant return on investment, is the lowest risk and the most straightforward investment you can make. By doing a couple of things for yourself, you can improve your earning capabilities, and in the long run, you’ll make more money from it.
Here are a few ideas about how you can invest in yourself:
- Get yourself a career coach, and start looking at ways you can improve your career or get from where you are to the profession or lifestyle that you want.
- Take some courses, try to take two – one that is purely for fun and is something that you want to learn and have an interest in. The other one should be to improve your productivity, job performance or your knowledge.
- Spend some time learning how to invest, where to invest and what will give you the best return on your money.
The joy of investing is twofold, learning about different ways people make money other than working a 9-5 job, and learning that you can do it yourself and it doesn’t have to cost a lot to get started either. If you do decide to make any of the above investments, seek advice from the relevant bodies to ensure that what you are buying is legitimate and from a reputable source. Investing can be fun as long as you are clued up on doing it well.