As a wealthy person, you don’t need tips on how to make money. You have already shown a track record of doing that. However, managing your wealth in a way to maximize your returns and support a better lifestyle or mindset is an area where help is available.
Related: International real estate investor: The benefits of the “Golden Visa”
In truth, it’s a fairly simple process to master. You simply need to adjust your approach and mindset. Here’s all you need to know.
Diversify your real estate portfolio by looking overseas
Can the domestic real estate market generate positive ROIs? Absolutely. And there’s a strong possibility that you have experienced this yourself. In fact, the economic climate means that cash buyers may even stand to benefit from falling property prices. Still, if you wish to maximize your returns, it is worth looking to international markets.
International real estate markets can be used to great effect. If you target an upcoming market, you will find that your investment sees significant growth in just a few years. Meanwhile, it can be your ticket to a golden visa or used as a vacation home. Better still, there are several potential approaches to consider.
You can develop properties and sell them on. Become a traditional landlord. Or turn them into short-term rental homes. Either way, you can often build a huge portfolio with a far smaller outlay.
Use stock investments for versatility
Whether it’s traditional stocks or cryptocurrency, you’ll know that these assets can make great investments. You only have to look at the story of Bitcoin and other high-performing digital tokens to see how quickly they can grow your wealth. It is often a far smarter choice than letting your capital see minimal gains in the bank.
When investing large amounts through stocks and other assets, though, they offer great flexibility. Using the Metatrader 4 terminal, for example, means you can access your portfolio at any time. Aside from allowing you to make quick trades without paying agent fees, you can withdraw funds for other endeavors if needed.
Unfortunately, most other investments will keep your capital tied up. Stock investments work as a great way to provide a flexible source of funding. And they still grow your ROI at a faster rate than traditional savings accounts.
Don’t forget your wealth management admin
Building your wealth is one thing, but utilizing it is another. Unfortunately, thousands of high earners are so busy making their fortune that they forget this. Worse still, shortcomings in this area won’t only impact you. The adverse effects can be equally problematic for your family and beneficiaries.
Nobody wants to think about death, but using Family Estate experts to take care of your estate planning is key. It will ensure that your wealth is distributed as you desire and protect your loved ones from legal difficulties. It’s not only in death that you need to worry about the admin aspects, though. Prenups and other documents are needed at various times.
If nothing else, the knowledge that your financial matters are under control should have a positive influence on your life. For the sake of yourself as well as your loved ones, it’s vital that you put this right ASAP.
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
