If you are fortunate enough to have disposable income laying around, you are one of the lucky ones, as most people find it hard to save money, especially during these troubling times. Of course, you could just leave the money in your bank account and let it accumulate interest, which is negligible by the way. Or you could look for the right type of investment that will help you achieve your financial goals, which would be the smarter thing to do.
Here are a few ways that you can invest that extra income that keeps on rolling in.
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- Start Collecting Gold Coins – This is both an investment and a hobby; start with the well-known Americal Eagle and American Buffalo and the Brittania and the Canadian Maple Leaf are also worth acquiring. A Google search will bring up a list of recognised gold coins, along with rare gold coins (not recommended unless you have special knowledge) and with the way gold has performed for the last 2 years, now is the time to start your collection of fine Gold Coins.
- Managed Funds – These funds are invested in top performing ASX companies by fund managers with impressive performance stats and with funds designed for high-yield income and also to grow your wealth long term, you can choose one that best meets your aims. Talk to the leading Australian managed funds company, Lincoln Indicators, who have been at the top of the tree for a few years. It does make sense to pool your wealth with other investors and let a real pro handle the fund, which is why most newcomers to investment opt for managed funds.
- Buy a Second Home – If you can afford the monthly repayments and have enough for a deposit, you could move into the rental property sector. Be careful, as there are a lot of responsibilities and expenses when you become a landlord; most investors use the services of a reputable property management company, who handle every aspect of the tenancy, including building maintenance. Buying real estate is always going to give you a return and with tenants paying your mortgage, the long-term goal is 100% ownership, which comes when you make that last home loan payment. Click here for tips on how to become a top trader.
- Cryptocurrency – Bitcoin been on the up and up for a while now and if you had purchased a single bitcoin a decade ago, it might have cost less than a dollar and is worth over $40k today. This does not mean you should put your all into Bitcoin, or indeed any of other cryptocurrencies that are available. But a few thousand dollars could turn out to be a very good investment; you can buy any fraction of Bitcoin and here is a link to download the Bitcoin wallet, which you will need.
There is always an element of risk when investing and you should try to minimise those risks and if you stick to your plan, you will enjoy a secure and happy retirement without any money worries.
