It has been a topsy-turvy time in the marketplace recently. As a result, many of the traditional investment options that used to be regarded as safe bets have become incredibly risky. It’s time to update traditional wisdom.
Related: Building up your wealth? Pay off debt first
With things as chaotic as they are, it is no wonder that people are a little cagey about where they are putting their money. But they are also looking further afield to find opportunities that may yield better results than the old standard options. Here are some investment opportunities that you may not have thought of.
Investing in a start-up
A lot of people may think that you need to be a serious high roller if you want to invest in a new business. While being a so-called “angel investor” is typically reserved for someone who can deliver the start-up capital a business needs, there are plenty of opportunities for people who believe in the potential of a business and want to get in on the ground floor.
So many start-ups are struggling right now, even in areas that were once very desirable. Many businesses will offer equity through crowdfunding, which allows you to face a lot less risk than you would if you handed over all your cash to help a company get off to a good start.
Cryptocurrency
There is always a lot of hubbub around cryptocurrency, which means that there are a lot of people out there who may have the wrong idea about it. Crypto can be a volatile thing to invest in, but the rewards can be plentiful if you do your research and make the right choices. If you have never dabbled in trading crypto before, then you may want to start with the best-known and biggest: Bitcoin.
You can purchase Bitcoins from online marketplaces such as Paxful, which offers over 350 different payment methods and work with over 12,000 trusted vendors. It is important that you understand how the process works and that you find a trading platform that can show you the best deals. You will be able to learn more about cryptocurrency as an investment by consulting online guides and doing your own research, but essentially it diversifies your portfolio.
Related Posts
- HOW WEALTHY INDIVIDUALS SET THEIR RETIREMENT PLANNING STRATEGIES
- THE US DOLLAR INDEX: ITS INFLUENCE ON TRADE, INVESTMENT AND FINANCE
- MANAGING YOUR PERSONAL WEALTH WHEN EMBARKING ON A NEW BUSINESS VENTURE
- MAXIMIZING YOUR FINANCES: BENEFITS OF PERSONAL FINANCIAL MANAGEMENT APPS
- WEALTH MANAGEMENT: NEW YEAR, NEW CRYPTOCURRENCY OPPORTUNITIES
Lending money
You may have heard of peer-to-peer lending (or P2P lending), which is becoming an increasingly popular choice. You can use a lending service to set your credit rating and the other conditions, and you can lend money once it has all been approved.
It is important to note that people will apply for loans through this service if they can’t get a loan from a bank, so there is some inherent risk involved. Make sure you do your due diligence on any company that you are thinking of lending to.
Investing in property
For the last couple of years, investing in property has been out of reach for a lot of people. The rate of inflation in the UK property market has been off the scale, and for a long time, it seemed like it would never come down. Canada as well.
However, it does look as though prices may be cooling off, so it may be time to start looking at property as an investment again. It is very important that you do your research and ensures that you are confident that you can make money on a sale. Remember that this tends to be more of a long-term commitment rather than a quick money maker.
Top image by Karolina Grabowska/Pexels
I am a 50-something Torontonian who loves everything about my city. It’s been my home, my playground, for my entire life. I went to school here. I met my wife here. I own real estate here. I love writing about the transformation of my city on the world stage, which hasn’t been anything short of dramatic. That continues on, as I write this. I write on the real estate scene. I write on travel and fashion. I like following the world of luxury watches.
But I love writing about cars – check that, luxury cars, a level of superior, engineering sophistication, high performance and style, that transports you not just from one destination to another but also out of whatever you are going through on a particular day, whatever mood you are in, all to another head space. It’s complete and total exhilaration, head to toe.
Check out my stories, and email me direct at mkeast@regardingluxury.com