Where Should You Be Investing Your Cash?
It’s always great to look at your savings account to see a healthy sum in there accruing interest. The risk with a savings account is low, but the interest can be dire. Instead, you might want to take a more proactive approach with your hard earned cash, making it work in a more aggressive way for you. To do this, you need to withdraw some of this money and pump it down different financial avenues. While riskier, you could end up with a more lucrative pot of cash for your twilight years. Take a look at these potential investment opportunities that you might want to consider.
The most important thing when investing in the housing market is realizing that you must treat it as a business. It’s all too easy to become attached to the pads we buy, especially if we need to renovate them and concentrate on the interior design. Just because you are keen on the high gloss red kitchen units, doesn’t mean your potential buyers will be. Instead, keep things neutral and spend money on important things, like kitchens, bathrooms and high-quality fixtures and fittings.
Sometimes, you can invest in property without even viewing a structure as such. Off plan purchases such as the real estate developments that are mere architects drawings, are great to invest in. Because you are purchasing without seeing the finished product and because there is a huge element of trust, you can buy these dwellings at a bargain price. Without doing anything, you sit back, watch the home get built and then sell it on once completed.
If you like a tipple or two of your favorite vintage, why not put your wine knowledge to good use and invest in a case or two of some decent years. Picking up a case of South African Chardonnay from 1992 or a case of Spanish Rioja from 1978 should be viewed in the same way as investing in art and antiques. The more scarce an item gets, the more sought after it becomes, thus increasing its value. Choose your wine investment wisely and you could have a sound long term investment to increase your retirement funds.
If you’ve always fancied dabbling in the markets yet the thought of stocks and shares terrifies you, Forex trading could be the amateur investment you’ve been looking for. With a dummy account set up, you can hone your skills and practice selling the dong against the dollar and the pound against the yen.
You will need enough time to dedicate to this foray into investing, as you will need to check the markets every day. Make the right calls and trade in the right currencies, and you could make a lucrative amount to top up your savings.
Investing should be fun and exciting, and it’s always a prudent idea to seek professional advice when starting your own portfolio. Never risk what you cannot afford to lose and spread your investments to maximize your chances of success.
Where do you invest your money? Comment below!
[a contributed post]
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