It's becoming more vital that we seek other ways to make money in the modern world, the rising costs of everyday products, as well as the increase in the cost of living means that we need to seek out alternative ways of keeping ourselves financially afloat. This is where a good investment comes into play. Of course, the investment game is a tricky one to play, because we are all after decent returns on investments and a lot of us don't know where to start. So here are a few that are definitely worth thinking about right now.
Peer To Peer Lending
This is an alternative to investing shares into a company, you are lending your money to someone in the hope that they will pay you back. This can be a risky venture in this respect, but if you make sure you pick and choose wisely and look for the best-rated loans, it's a very good way to get some good money back with minimal risk.
Boats
Yes, surprisingly boats are a decent investment, albeit with a massive lump sum upfront. If you can invest in the car of the sea, then you will be able to make a decent return. A lot of people view boats as very high risk and very high maintenance, however, if you can get your financing right, it won't leave you severely out of pocket. Don't forget that the world is two-thirds water, and with rising water levels, a boat will be a valuable commodity further down the line.
Municipal Bonds
The way local authorities or government entities borrow money is to issue a municipal bond, and these are exempt from federal income tax. As a result, this is a very smart idea for people trying to cut back on their tax hikes. The other great benefit of this is that the likelihood of the borrower defaulting is minimal. Make sure you speak to your accountant to check that they are exempt where you live. You could purchase individual “munis” online now if you wanted to get started.
Classic Cars
Very much a labor of love for some people, classic cars are in some respects like antiques, they will accrue value as they age, but only if you look after them properly. This means potentially a lifetime of investing in everything you need to look after your car, from making sure it is housed safely and securely, to making sure that the engine and mechanics are well maintained. We all know how valuable cars from the last century can be, and in this respect, if you are looking for something to sell off when you're older, you may want to start living a frugal existence now.
There are infinite other ways to begin investing, but these four methods are on each end of the expense spectrum. Vehicles are an investment upfront, but the bonds and lending services can be done with minimal investment. But if you are unsure, it's definitely worth thinking about these options at the moment.
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