If you are eager to do a little bit more with your cash rather than watch it linger in a simple low interest savings account, you need to think about mastering the art of investing. While you could put all of your financial eggs into one basket, it pays to spread the risk to create a more diverse investment portfolio. This way, you can have a range of backup investments should one fail for any reason. Investing can be very much like a roller coaster. However, to keep your investment journey as stress-free as possible, check out these incredible options that you might want to consider this year.
The property market may not be as buoyant as the early noughties, but it is still a low risk sure fire investment for the long term. While flipping a pad may not be as profitable as it once was, renting out a second pad over the long term can be. Ensure that you buy well and do your sums. You need to purchase a property that is under market value that you can add value to through a scheme of improvements. Ensure that the pad is in a desirable area with low crime rates, close to amenities and with good transport links. These three facets of renting create the perfect storm for securing worthwhile tenants. Ensure that the rent you charge covers your home loan repayment and leaves you a little extra for repairs if necessary. With any luck, your asset should pay for itself and after five, ten or fifteen years, you can sell up and pocket the cash return.
If you a little yellow when it comes to investments and you worry about making the wrong decision, why not consider an investment fund overseen and managed by highly qualified and experienced fund managers. The CEO of Surefire Capital Ariel Shlien is a stalwart of the Canadian scene with a reputation for making sound money making decisions. The Ariel Shlien Award by Canada’s Governor General recognized his outstanding achievement and service to the nation. Opting for an investor like Shlien to manage your cash could be a worthwhile punt if you don’t fancy going it alone.
If you are after a quick money making side hustle that requires very little effort and input on your part, wine could be a great bet. The risks are a little higher and you need to do your research beforehand, but after two or three years you could have doubled or tripled your money. Consider the finest vintages within your budget. A 1999 Spanish Rioja or a 2008 Australian Shiraz could be bought by the caseload and stored for as long as you want to hold knot it. Think of wine as art or antiques. The more scarce they become, the more desirable they are. If your wine becomes rare and there are collectors out there, the market for your particular vintage could go through the roof.
Investing is a tricky art to master. However, follow this guide and you can enjoy taking a punt on three incredible investments in 2021.