When we start to make a bit of money, we can often sit and dream up all of the things that we are going to buy. All of the things that we can’t wait to own, or at least have to joy of purchasing. Sometimes it might be stocks and shares investments because you’ve watched The Wolf on Wall Street once or twice, or maybe, you’ve watched Dynasty and seen all of the properties and apparent wealth – also known as tangible assets. Things you can hold, see and touch. So what are some of the physical assets you should be dreaming about? Or even, if you’re ready, to be fully investing in?
Housing. When the going gets tough, the tough always need a roof over their head. You can choose to invest in a smaller starter property, learn how to renovate and turn a profit. Then keep going until you can just buy yourself something luxurious from William Pitt. While the property market does have its own fluctuations, no matter what happens, people will always need homes. Buying up property also comes with generous depreciation write-offs and every once in a while? There is a housing boom with millions to be made.
Invest your time (but mostly money) in smaller local businesses. Local businesses that make an impact on the area they are in – for example:
- Community centres
- Schools or learning facilities
- Co-working facilities
The above are likely to cater to a specific audience, and in doing so, they tend to secure funding from other sources, but also they have continued support and custom. None of which is terrible for you. The business owner and yourself will need to come to an agreement about the repayment terms if it is a loan, or work out what % of the company or equity you’ll get. Perhaps this is more about contributing for you too, in which case try and match your skills to the business and increase the benefit tenfold.
Gold and silver. Both of these precious metals hold value spectacularly. Of course, you will have to invest a decent amount of money in it, and the idea is to hold on to it for a financially rainy day (or in other words, when you are in need of quick cash). Precious metals tend to go up in value when the dollar is weak. However, it is almost impossible to know for sure when that is about to happen, so if you are dabbling then remember to keep an eye on the currency market at all times.
Courses. Get yourself into the learning zone. It doesn’t matter if you are thinking about starting a whole new career path or building on your current knowledge base. Education and certification make it easier to go up the career ladder, to start your own business or to increase your earning potential in the field you are currently in. After all, the best investment of both time and money is you.