Over the years I have invested in a variety of things. Along with avoiding debt, finding ways to make more money and saving, you need to invest in your future. Here are 6 things I have invested in that worked out well. Remember, investing is usually for the long term. Make sure you are well educated on whatever you plan on investing in, keep an eye on your investments and only invest in what you are comfortable with and money you can live without.
I personally prefer blue chip shares, much like Warren Buffet. I have friends who have been more adventurous than myself, investing in penny stocks or start ups and done fairly well. Shares tends to be considered a riskier investment strategy as the market does go up and down. If you are in it for the long term, you needn’t focus so much on the fluctuations, rather be focussed on the company you have invested in, their financial situation and learn all you can about anything you invest in. Check out places like CMC Markets for help with shares.
I have had my own business a few times and my favourite business has been that of blogs. I have bought and monetised a few, become a published author and had a complete change of careers because of blogging.
Businesses can be a great investment if you know what you are doing, have good advice, market well and are committed. If you don’t want to be the one doing it all, you could look at being a silent partner in a business instead.
Another possible type of business that doesn’t require too much effort is to set up a online trading venue. All you need for this is an initial investment and an account with an online broker that provides automated fx trading software. Review several trading bots, test them risk-free with a demo account, choose the best one, and let it make money for you.
3.) Real estate
I have had a rental property before, as have my parents, my partner and many other people I know. I love property! It isn’t always smooth sailing, however if you are smart about your investing there are many ways you can make money from a property. Some buy in areas that are set to have infrastructure upgrades to get in before an area booms and sell for a profit, others look at great rental opportunities. I have rented our rooms though AirBnB or had flatmates, other times I rented out the whole house to tenants when I lived interstate. It all depended on the circumstances. A great example of different ways to make money with property, using a house I lived in can be found here.
4.) Gold, silver, precious metal and stones
Back in 2010 I had the opportunity to buy a range of jewelry mainly gold and silver, some with stones, at a ridiculously low price. Some of them I sold instantly for a profits, others I held onto for the increase in value. Investments like this don’t create passive residual income like shares, business and property can. They aren’t as common an investment as other things and it isn’t one I have done a lot with. I have found it interesting to see the significant increase in a few key items I elected to keep though.
If you choose to invest in physical items like gold, silver and stones such as diamonds or black opals, make sure you have them properly valued and insured. Keep them stored safely too.
Similar to precious metals and stones, you can invest in collectibles. To give you an idea, I had a friend who’s father collected old bottles and coins. When he passed away there was a corner in her garage of his things she couldn’t bear to part with. It was all he owned in the world. One day I went through it with her. She had thought it was all worthless. Turned out there were quite a few rare and extremely valuable items in there. Antiques are another item some choose to invest in and if you get the right items, the increase in value can be extreme.
On the other end of the spectrum, I have also read about certain fashionable items being touted as quite an investment, such as a Hermes Birkin bag, though I am yet to invest this way.
6.) Financial advice
Investing in good financial advice can be one of the best investments you make. Whether it is hiring a financial advisor, or researching yourself through the right courses and books, expanding your financial knowledge to enable you to invest your money wisely is a sound investment longterm.
An investment too many overlook is investing in yourself. Whether it be attaining higher education to get a job, pushing yourself to learn about business or taking care of your health with things like a quality mattress, gym membership, counseling, proper shoes or anything like, investing in yourself provides longterm benefits enabling you to increase your wealth in other ways.
As a personal example, I have invested in myself a few times. When I was a stay at home mum I taught myself about blogging, sought out some mentors and ended up as a published author, international speaker, owner of multiple sites and now a CEO. I didn’t go back to school as such, I did invest heavily in educating myself though. Another one is my health. I neglected it and last year faced paralysis and a cancer scare. Once I took the time and money to invest in myself my health improved resulting in me being able to have a better quality of life and more income to enable me to invest in other things I am interested in.
So what do you plan to invest in?
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