Finding that next big thing to invest in and having it pan out the way you want is always a gamble. If anyone tells you something is a sure thing, question them because there are never any guarantees. However, there are some options that are safer than others and worth some additional thought. Here are some investment opportunities you should think about.
Money Market Accounts/Funds
Money market accounts and money market mutual funds are two different things. The former has more to do with bank deposit accounts similar to savings accounts. The latter is an investment product. When you invest your money in a fund, it buys a collection of short-term government bank or corporate debt.
You can use this money for a little more sooner rather than later, and you can expose it to market risk without ending up in a financial bind. Market accounts are some of the most stable investments because fixed-income investments are predictable and offer low risk.
Real Estate
If you’ve never heard the saying, “Buy land; they’re not making it anymore,” you’ve heard it now. There is so much truth to this statement, and since property is scarce, people are going to want the pieces of land that are already out there.
You’ll have the rights and ownership, and people are willing to pay you to use it. There’s more to real estate than housing. Buying commercial property is always beneficial. For example, a commercial parking lot is a smart investment for multiple reasons, and you’d be surprised how desperate people are to find and supply parking.
Art and Collectibles
A good piece of art is timeless and holds a lot of value. The trick is to find a good piece of art. You have to know and understand this market before stepping into it. Knowing the worth behind a particular piece is the most important part.
The same goes for collectibles like action figures, baseball cards, and coins. Collecting without knowing the value is pointless and could cost you more money. Lastly, you want to make sure you keep the items in perfect condition. Making sure you maintain the art of the collectibles preserves its value and can also increase it.
Gold and Commodities
Gold is always a good investment. There’s rarely a moment when it loses value. People are willing to pay for your gold and commodities because of their worth. There is an infinite supply of gold, silver, and platinum. You just need to know where to look.
These commodities are typically tied to the stock market and will rise as traditional stocks fall. You won’t need to worry too much about your investment here. As previously mentioned, you need to know where to look to buy it as bullion, but you can also invest in a commodity-backed index.
Think about these investment opportunities as the new year approaches and better secure your finances for the future.