Do you have a good understanding of risk and rewards when it comes to investing? To earn big, it’s important to know when you should bail and sell and when you should hold your nerve- while nothing is guaranteed if you’re aware opportunities needed for the best outcomes you could do very well. Done correctly, investing can be a way to turn a chunk of money into a lot more without a whole lot of work from you. Here are a few exciting examples of places you can put your money, if you’re knowledgeable enough- and also have enough nerve.
Stocks and Commodities
The stock market can be complicated, and therefore if you’re new to it then it’s advisable to seek advice first. There are brokers who can provide you with advice, and software you can use to familiarise yourself with the way the markets work- without spending money. Once you’re confident, you can start making your investments. CFD trading is another options, where you can trade on forex, indices, commodities, shares and treasuries. Lots of people have made their fortune in stocks, but you can lose the lot too. As with any investment, only spend what you can realistically afford to lose.
Cryptocurrencies are being spoken about widely at the moment, and it’s not just hardcore financial investors who it appeals to. Normal people who have never invested before are seeing the benefits that putting money into these currencies can bring. Cryptocurrencies are becoming some of the most eagerly invested in commodities, with some people even pouring their life savings into this digital currency. Those who got in there early have already become millionaires, but there’s still money to be made at this stage. The risk comes in where it could go either way, with cryptocurrencies being particularly volatile. Values can rise and falling in large percentages very often, so it’s a situation where you could earn massively or lose the lot. Either way, cryptocurrency is an exciting place to invest.
If you already run a successful company, and have done well in business then you will be well versed in the business world. But instead of establishing more companies which can be hard work and time consuming, why not become an investor? You can give cash to a startup that you think looks promising in return for a percentage share of their business. They do all the work and put in the effort, but your money allows them to take things to the next level and really get off the ground. When they make a profit, your share lands in your bank. The aim is for the business to do so well that you get your money back plus extra profits every year without even needing to do any work. On the other hand, you might choose to get more involved and act as a mentor for the company you’re investing in, you could give advice, put them in touch with connections and contacts and much more. So you can really be as involved or uninvolved as you like making it a great side project.
Property is almost always a good investment, and while there might be rises and falls in the market at times, unlike cars or other big purchases, the value increases each year. It’s always something that’s in demand so you have the ability to quickly sell or rent in most cases. For even less work from you, you could hire an estate agent to manage things for you. They will take care of everything from referencing to dealing with tenants, tenancies and much more. If you want to take on a larger project, you could buy something cheap perhaps at auction and renovate it to massively increase its value. You could even have properties built from scratch which you could then either sell on or rent. If you don’t have the funds to do this, another option would be to take out a buy to let mortgage. Get a tenant in, and their rent pays off your mortgage each month, later down the line when it’s all paid up
Making smart investments can be a fantastic way to boost your income, and turn a sum of money into a lot more without that much additional work from you. No need to work all hours or burn the midnight oil night after night, instead you can put your money into the right place and let it work hard for you.