Are you thinking about investments for your money? If you are tempted to make your money work more aggressively for you, the chances are that you want to remove some of your cash from your savings account to invest in more lucrative ventures.
By generating a variable risk investment portfolio, you won’t have to make do with the woefully low-interest rate of your savings account. Instead, you can take a foray into the world of Forex, think about purchasing a second property to rent out, and invest in a few bottles of your favorite tipple. Take a look at these three sure-fire investments to top up your nest egg.
Bricks and mortar investments are often seen as safe as houses, excuse the pun. If you can demonstrate to a mortgage lender that you have the means to pay back any home loan that you take out, you could purchase a second home to rent out.
Before taking the plunge, consider instructing a specialist to carry out a cost segregation analysis to ensure that you are as tax efficient as possible when investing in real estate. When ready, you can head to auction to try and purchase the worst house on the best street. Undertake a scheme of works, rent out the pad, and achieve a rent that covers the home loan repayment each month. This way, you can retain an asset that pays for itself and that will allow you to achieve a return on your investment that is greater over time than if your money was to wallow in your savings account.
The world of stocks and shares can seem a little alien to novices. They are used to seeing high flying investment bankers in movies at stock exchanges looking ridiculously stressed. While this isn’t the sort of investment you want to entertain, the world of Forex trading is much more accessible.
You can buy yen against the dollar and sell krona against the peso from the comfort of your own home. Conducted online, you can open a dummy account with a Forex platform. With pretend money, you can practice your trading skills by following online tutorials. When you feel confident enough, you can attempt to make profits by selling and buying currency wisely.
If you adore drinking the finest riojas and sampling the delights of the new world chardonnays, you might fancy taking a journey into the world of wine. Wine, when the thought of in the same way as art or antiques, can be a profitable investment. As the wine you buy becomes more scarce, it becomes more sought after making it more valuable over time.
Do your research and consider what sort of fine vintage you can buy for your budget, Factor in storage costs and you could have a dozen bottles accruing value in a wine cellar as the desirability of the vintage increases. If you adore wine tasting, then you can tap into a passion and invest at the same time. Monitor the markets and sell when you want to return your money to your bank account.
Final Thoughts on Investments
It can be challenging to create an investment portfolio as an amateur. However, follow this guide and you can top up your nest egg with three sure fire investment options.
Have you researched any investments yet? Tell about your experiences and share your tips and suggestions below! Any bit of advice can help others, especially those new to the idea of investments.