Most people with spare money would like to invest it profitably. With a slew of investment options available in today’s times, it can become difficult to zero in on the ones that best suit your requirements. Most people understand that the more risks one is prepared to take with investments the greater the returns that one can make.
However, the attraction of obtaining such returns is also tempered by the realisation that one cannot risk it all in the hope of hitting a jackpot. Most investment advisors would suggest that you work out a balance between your need for large returns and the safety and security of your money.
While there is no ‘one size fits all’ method for achieving this balance, there are some investment ideas that work for everyone. Let’s look at seven investment ideas that anyone could profit from.
1. Invest in stocks
Systematic investment in select stocks is always a great way of increasing your wealth over some time. If you are not sure about how to buy stocks, you might want to carry out some online research or consult with a stock trading expert. It generally makes sense to invest in blue-chip stocks and hold them over the long run. One should also tweak one’s portfolio from time to time in response to the market situation. More on investing in stocks can be found on the Invezz guide.
2. Create an additional source of income
It is quite easy to create an additional income stream in this digital era without having to invest a large amount of money. This is a great way of dealing with the volatility witnessed in the job market. Things might appear to be coasting and suddenly a global crisis might erupt and turn everything upside down. The present Covid-19 crisis is a great example of this. So, it makes eminent sense to identify a side business that can not only augment your regular income but also become the main source of income in the event of an unexpected crisis.
3. Investing in REITS or real estate investment trusts
Real Estate investment if done the right way can give any investor excellent returns over time. However, not everyone is endowed with the right kind of skills to do so. Besides the process of buying, maintaining and selling real estate is not the easiest of things to do. Also, this kind of investment requires spare income, which most people don’t have.
A good way to get around this is through REITS or Real Estate Investment Trusts. You can invest in them the same way you would in mutual funds and hope to earn regular returns on them without undergoing any of the hassles associated with conventional real estate investment.
4. Paying off debts
This at first glance might not look like a worthwhile investment, but considering the 25-30% interest that one pays on credit card debt, knocking it off will provide one with a higher return than the 10 odd percent annual return that one will get by investing in S&P 500 shares. The 25-30% interest that you will no longer pay will be no less than an additional return of the same amount.
5. Acquiring new skills
Your ability to generate a sizable income is the sole factor behind your quality of life and happiness. With the job market being as dynamic as it is, there is no guarantee that you will always possess skills that are in demand. The way to get around this is to either upgrade your skill or acquire new ones.
Today, you can train yourself in any conceivable skill, thanks to the many online courses you can enrol in. Many of these help you obtain certifications that enhance your employment opportunities. At the very least you can acquire a new and useful skill by the simple expedient of watching YouTube videos
6. Invest in gold
This is one of the oldest forms of investment known to mankind and has lost none of its lustre in today’s world – pun intended. People may buy gold in the form of jewellery that they can also use or they may buy it in the shape of bricks and coins. Investing in gold has many advantages, like less unpredictability when compared to other assets; universal acceptance as a valuable asset which can be traded for different currencies in the event of one’s currency value going down.
7. Your health
The current ongoing pandemic has brought to the fore something that is common sense but more often than not totally forgotten: your health is your greatest asset. Lose that and all the super investments of the world will come to nought. Investing in your health needs to take precedence over anything. If you are healthy and live long, not only will you get more opportunity to make money, you will get more opportunity to enjoy it as well.