Looking to level up your investment game? It’s time to dig deep and go back to the basics to find out how you can make your investment portfolio even more competitive. If you’ve been feeling stuck in your current investment patterns or if you aren’t sure what the next right step is to make your money work for you, you’re in the right place. We’re going to be digging deep into different mentalities around investments and showing you how you can get the most out of some unexpected investment opportunities that you’re probably overlooking.
What alternative investments are you possibly missing?
Alternative investments can prove to be even more lucrative than traditional investments such as the stock market. The problem is that we are so aligned with what the stock market represents it is nearly ubiquitous to us by the time that we reach the phase of our life that we can invest. This often results in us missing fantastic opportunities to invest along the way in what could give us greater risk-adjusted returns, if only we saw the initial value that these investments once had. Great examples of these include:
- Commodities, such as gas, oil, and naturally-occurring commodities
- Memorabilia or niche items with sentimental value
- Watches, automobiles, or any other material item that accrues value with age
Beyond this list of “unorthodox” investment opportunities, you also have the classics, which include:
- Real estate and rental property investment
- Stock market investments and day-trading
- Cryptocurrency and alt-currency investments
While the last option was more recently added, cryptocurrency and alt-investments are coming into a new level of popularity in the 2020s.
How do I make these investments work for me?
Looking back at the list above, you’re probably wondering why watches, cars, and even clothes can make worthy additions to this list. The key to hacking this part of your investment strategy is understanding that cash isn’t the only investment that you can make work for you. Value associated with these types of “everyday” items can grow over time, especially if there is inherent worth tied to the aging of that object (such as baseball cards).
You can’t simply invest in random items without a strategy and find success. To get a higher chance of a return, you have to invest in things that will, inevitably, hold value later. Think strategically about the variety of your investment portfolio, and evaluate if commodity and item-based investments such as those outlined above are right for you.
Rather than limiting your scope of potential success, making this mental switch to see it as an opportunity can show you new and exciting ways to invest and give you the option to have fun while doing it. You can turn nearly any passion or hobby into an opportunity for investment.
Looking for more ways to diversify your investment portfolio?
At Money Insights, our passion is to help you to make your money work for you. We do this by applying proven techniques to help you reach your income goals and offer our expertise to help you craft a tailored financial strategy that works for your unique situation. For more information, please visit our website. We would love to have a chat and see how we could help in your journey to financial success.