People have always said that investing in bricks and mortar is as safe as houses. While that may have been true for the past twenty years or so, the current pandemic has seen the economic climate across the globe shift to something more uncertain than ever before. You may have been ready to part with your cash and purchase the worst house on the best street, do it up, and resell at a profit.
However, if a crash is looming, you don’t want to be stuck in negative equity with your asset. Instead, you might want to consider alternative options to real estate to make your money work more aggressively for you.
Take a look at these inspiring investments.
Gold And Silver
Gold and silver, like many other precious metals, are a commodity.
Like copper, iron, and steel, their value fluctuates on the open market. Alongside stocks and shares, precious metals can be bought and sold in an effort to make some cash.
Many investments can be short-term while others could have you thinking more long-term.
You can click here to see the sorts of bullion that you can purchase for your budget. You will need to monitor the markets and keep a close eye on the forecast for precious metals. It’s crucial that you buy when the price is low and sell when the value is high.
You might even want to dedicate some of your budget to a broker who can advise where best to splash your cash.
If you’ve always fancied yourself as an amateur market trader and you enjoy checking out the latest FTSE 100 share prices, Forex trading could be suited to your personality.
Forex trading would see you buying one currency against another and vice versa. This could mean you are buying yen against the dollar and selling krona against the peso.
The possibilities are endless. You will need to do your research and work out how much you can afford to spend on this investment. Forex trading isn’t for the faint-hearted and you will need to be watching the markets daily.
Many Forex accounts will allow you to practice in real-time with pretend money to see if you have a knack for the market. When you feel confident, you can turn your monopoly money into real hard cash.
If you adore sampling the latest chardonnay and rioja, you might want to invest in wine.
By searching out the latest sought after vintage and getting your hands on a dozen bottles or so, you can store it, ready to sell on at a later date. This hands-off investment option is great if you are looking for something long-term. Investing in wine is like purchasing art or antiques.
The older and scarcer they get, the more valuable and sought after they become. Invest in some of the finest vintages around and you could be looking at a tidy little earner to top up your retirement fund.
Follow this guide and you can invest your cash down other avenues rather than just property.