Where You Should be Investing Your Cash
The best way to make money is to have money in the first place, and when you do have some cash, you should be looking to use it to grow your wealth. The way in which people try to use cash to make more varies greatly, some save and hope for good interest, some hit casino sites and others look to the long term by investing the money which they have. If you do happen to be sitting on some cash and looking to invest, here is where you should be putting it.
Cryptocurrencies like Bitcoin absolutely blew the market away last year and saw gains of over 1000%. Whilst the prices may be slightly unstable right now, a great many analysts have predicted that the future of crypto looks very good indeed, and if you are able to get in now, you could stand to make a large sum of money in the future when prices rise.
Many say that the best place to invest your money is in bricks and mortar, and they are right. Buying a property is a safer investment than most, firstly because the market is nowhere near as volatile as many others such as stocks and shares, and secondly because you have something tangible from your investment, rather than just digits on a computer screen. Once you have bought a property you could look at renting it out long term to keep money flowing until you sell, you could flip the property for a quick profit or even invest some time in giving the property some TLC, before selling it when the market moves.
Angel investment is what they call it when individuals place money in the hands of young entrepreneurs who have a great idea and business model. If you do choose to invest in start-ups, make sure that it is in an industry which you already have experience within as this will give you a better idea of the potential success of the business who are pitching to you.
Instead looking to invest in stocks and shares, why not look to the power of futures contracts on products such as oil. Futures can sound complicated but in truth they are not, here is how it works. Let’s say the oil price right now is $70 per barrel and you buy a future which expires in 1 year, with a price of $75 per barrel. When the contract expires, if the price has risen higher than $75 per barrel, your contract guarantees you the chance to buy at this price rather than the higher price, if the price is below the $75, you have lost your investment but nothing more. Contracts are generally traded before the expiration date, as the prices move up and down and the contracts become more or less valuable.
The answer to growing your wealth is in investment, so where will you start?