Knowing where to invest your money is a challenge. There is no shortage of options out there, but which is the best for you? It depends on how much you have and how hands-on you want to be as an investor. Here are five top options to consider.
Property is a great investment option, as it can generate ongoing passive income and can become a good long-term investment if the value increases over time – which is why so many people are trying it out. Becoming a buy-to-let landlord however is certainly not an easy job. There are costs you’ll be liable for and key responsibilities involved with owning buy-to-let properties. But if you instead go down the property portfolio route and utilise popular property sites and advertise on Rightmove and Zoopla, you can build a regular stream of income that way. It’s not like stocks that can just collapse and leave you with nothing at all.
The art market is still booming like never before, and you should become a part of this if you want to make money. Of course, you’re probably not going to find a masterpiece for a low price. But if you’re willing to shop around and invest in up and coming artists, you could make big money in the future. You might not make big profits to begin with, but once you learn what it takes to make money from art, you will see the money come rolling in.
Collectibles are a big deal these days. People like to collect all sorts of things, and this offers opportunities to people who want to invest. You could invest in old toys, sports memorabilia, film props or all manner of other things. There are no limits to what people like to collect. So, do some research and find out what you would be interested in investing in. It has to be something that has long-lasting appeal to collectors. If it’s just a passing fad, then it won’t be a very good long-term investment.
If you’re looking for a kind of investment with no risks involved, then you should consider an ISA. They are a great way to boost your savings without having to risk losing your money. Of course, you won’t get rich off the back of putting your money in an ISA. But you can watch your savings steadily grow over time if you’re willing to be patient. It’s not the kind of option that will suit people who are looking for fast returns on their money. But it might still be an ideal option for you.
Stocks and Shares
The stock market is the classic investment vehicle for most people. There are pros and cons of taking up this kind of investment though. The negatives usually relate to how difficult it is to get started. When you first start buying and trading stocks and shares, you won’t know what you’re doing. You only pick up the tricks of the trade when you have been doing it for some time. But once you get the hang of it, there is a lot of money to be made by trading small amounts of stocks and shares.
DISCLAIMER: These articles are for information only and should not be construed as advice. You should always seek advice prior to taking any action.