You’ve heard of hedge funds, stocks, bonds, CDs and savings accounts, but what about other investment options? There are other ways to invest your money that promise more hands-on opportunities to see your money grow in value, and there are investments that are just simply a smart choice if you have the means. Here are some investment opportunities you may not have thought about.
Here’s one investment option that requires a lot of self control, since your efforts will all go down the tubes if you decide to drink your investment one day.
The idea behind wine investments is that wine inherently improves with age, just like any good monetary investment grows over time by accruing interest. Wine is least expensive when it is freshly bottled, and its value will increase every year, assuming it is a quality wine to begin with. To invest in wine, you’ll need a wine cellar and good knowledge of the wine market to know what will give you the biggest return and when to sell.
Much like with wine investments, if you have a knack for spotting a masterpiece before anyone else, you could make it big in the world of art investments. You’ll need to collect works of art and take excellent care of them to preserve their value, such as by preventing sun fading or moisture damage. When the time is right, selling pieces of art at auction can make you a pretty penny.
Investing a Structured Settlement
If you receive a structured settlement as part of a court deal, you’ve been awarded a large sum of money but receive that money in small payments at regular intervals. There are both pros and cons to this system, but one of the major disadvantages is that you may want to invest that large sum of money in order to capitalize on it and turn it into a lucrative passive income.
To do this, you need to liquidate the structured settlement. This is accomplished by selling the payments to an intermediary. Initially you should expect to lose some money to the buyer, so be very confident that your investment strategy is a good one.
Paying Down Debt
This is an unorthodox investment in that you aren’t putting money away to collect interest or sinking your money into something that promises to be lucrative in the future. Paying down debt is nevertheless a good investment because it helps you avoid substantial interest payments over time. You’ll save money by leaps and bounds once your debt is paid off, and you can invest the money you used to spend on debt payments in a more traditional manner if you wish.
Invest in Your Own Health and Skills
Another somewhat unorthodox method of investing, prioritizing your own health and abilities is a surefire way to make sure you can save money in the long run and possibly even make a little money on the side. When you are in good health, you clearly won’t have to worry about costly medical bills or medications to treat preventable conditions. And if you improve your own skills, like home renovation or car repair, you can take on a lot of DIY projects and save money by doing the work yourself.
Investing your money doesn’t have to be complicated. You can invest in virtually any industry for which you have a passion just by contributing to its growth and development, but to make a little money on the side, look for opportunities to collect valuable items that could sell at auction for a nice sum in a few decades. Such an investment could be a great way to fund your retirement or send your kid to college.