If you enjoy the thrill of trying to make your savings account work more aggressively for you, the chances are that you are not happy with the woefully low-interest rate on your savings. You want to be proactive and find new investment opportunities that can see your retirement fund or nest egg grow faster. Spreading your investments to create a diverse and less risky portfolio is crucial. The tried and tested methods of investing are viable, but you should also check out these more unique and exciting ways to invest your hard-earned cash.
Stocks And Shares
If you thought the ‘buy, buy, buy!’ and the ‘sell, sell, sell!’ were just for suited and booted professional investment bankers, think again. In the twenty first century, trading has become more accessible to the masses. If you have a laptop and a WiFi connection, you could try your hand at trading currencies, investing in the stock market or buying commodities. If you don’t know where to start, consider share CFDs, allowing you to hook up with a broker and trade the shares that they offer. You have a huge amount of flexibility, choosing when to your leverage or whether its a long or short position.
Alternatively, you might fancy a foray in Forex, buying yen against the dollar and selling sterling against the krona. You need to keep an eye on the markets and work out the trends and market forecasts. If you don’t have any experience of this sort of trading, you can open up a dummy account and have a practice before taking the plunge for real.
If you love a tipple of the latest fashionable chardonnay or rioja, why not consider investing in some vintage labels? Find a label and vineyard that has produced some excellent quality tipples. Do your research and see which years produced the best wines. Buy a fine vintage and keep it. You need to think of wine like antiques or art – the more scarce they get, the more desirable and sought after they become. Store the wine in a cellar or ask a professional to store it for you. Before long, that 1989 vintage shiraz that you have locked away could be worth a small fortune.
While property has been the go-to asset that amateur investors have sought to accrue more money from for their nest egg, you don’t have to go down the buy-to-let route. While purchasing a second property to rent out long term is viable, you might be in for a more lucrative return if you purchase a potential holiday home. Opt to purchase a pad in a desirable location near the coast or near a tourist hotspot and you could charge a premium in the height of the summer season. In just six months you could earn over double what you would with a simple buy to let near to where you live over twelve months. Consider it as a double asset as when it is not rented out, it is a readymade place to head to relax and unwind for you and your brood.
Investing needn’t be boring. Take a look at these unique investments to inspire your foray in financial freedom.