It’s no secret there are now more ways than ever before to invest your money. Traditional choices, such as property and long-term savings, are still among the best investment choices. But, today’s digital age offers plenty of flexible options to grow your money.
You’re likely here today because you’re expecting a cash windfall soon or have recently been the recipient of one. And, you want to do something with that money other than sitting on it or spending it! The trouble is, you’re unsure how best to make your money grow.
If you’re planning to invest your money in 2021, take a look at the following popular, tried, and tested choices for inspiration:
Have you got a significant sum of money to invest? If so, it makes sense to purchase property and make a steady rental profit from it. These days, it’s even possible to take advantage of a guaranteed rent scheme for landlords so you’ll never have rental gaps.
Be sure to select a property in an area where the demand for rental properties is high. If you can’t afford to buy such properties, consider investing with other like-minded individuals and splitting the profits.
2. Forex and Cryptocurrencies
Each day, millions of dollars get invested in the forex and cryptocurrencies markets across the globe. Such investments are medium to long-term options and are something you can do yourself from the comfort of your home.
Avoid techniques such as currency scalping, binary options, and other very high-risk investment choices. Be sure to split your investment across different currency options to mitigate any short-term losses.
3. Peer-To-Peer Lending
There was once a time where people had to borrow money from banks and other financial institutions. Nowadays, individuals can borrow money from peer-to-peer lending platforms. As an investor, you can put some of your money up to help fund loans.
The great thing about peer-to-peer lending is you have complete control over your risk levels. Plus, it’s usually possible to withdraw your investment in a short time, as another investor can ‘take over’ your funding.
Spending the money on improving your skills and education is also a great idea to increase your net worth. You may wish to set up a business or get qualified in a particular niche so that you have a chance of getting higher-paying jobs.
Investing in yourself isn’t as risky as some investment ideas because you’re able to gauge the likely outcome of your personal investment.
5. Company Shares
If you’ve got a good idea for spotting up and coming businesses, it can make sense to invest in those companies. You can spread your investment across two or more companies to help mitigate any potential losses.
Plus, you can typically buy company shares online directly from your home. It’s also possible to use an investment manager to take care of your investments for you. But, it does work out cheaper if you do the hard work yourself.