Depending on the type of person you are, the thought of investing either gives you a headache puts green dollar signs in your eyes. The obvious goal of investing is to make a return on your initial investment. So if I put $1,000 into some form of an investment, I want to be able to take out more than that $1,000 at some point in my life.
The tricky part is not understanding the concept but rather choosing where to invest your money. There are almost infinite ways to invest your money. You can go the safe route and invest in a savings account, a CD, or a bond. Alternatively you can invest your money in the stock market which has made a lot of people a lot of money. However, investing in the stock market often requires working knowledge of stocks and could also result in a loss of investment.
So if you don’t want to wait for a slow, government provided investment to appreciate and you are not comfortable investing in stocks, what else is there? There is real estate, but we all saw how well that went in 2008. Sorry, too soon?
Believe it or not, there are handful of ways to invest that you probably have not thought of yet. Let’s begin.
Publishing a Book
I’ll be you were caught off guard with this first investing opportunity. However, publishing books are actually a pretty good source of passive income these days. Thanks to Amazon and its Kindle Direct Publishing program, the idea of publishing a book has never been easier to achieve.
Instead of writing a book and then contacting a publishing agent or publishing companies, you can directly publish your book to the Amazon network of books. After you’ve published your book on Amazon, it takes 24 to 48 hours to hit the digital shelves. And those digital shelves are seen by millions of readers.
Another great reason to publish a book this way is due to the amount of income you receive from the actual sale of a book. For example, writers in the U.S. will receive 70 percent of the sale. This is much higher than the take-home percentage of traditionally publishing a book.
If writing isn’t your forte, have no fears. There are plenty of other ways to invest your time and money.
So I know real estate was mentioned earlier as being a huge investment bust. Well, the market is rapidly climbing back to its once promising stature. However, the real money in terms of investment, is in multi-family housing. So stop looking at those pretty, planned communities with single family homes.
The number of families that are renting homes is on the rise. Qualifying for a home loan is getting more challenging these days which means less people are able to secure the loan in order to buy a home. Therefore they have to rent. So if you have ever had the desire to be a landlord, now is the optimal time. A rising market of renters, combined with a stagnant building market makes for a great investment in multi-family properties.
Hunting or Farming Land
Another subset of real estate investing that has incredible return potential, is hunting or farming land. These large acreage properties can pay extreme dividends whether it is through leasing to a farmer or through the sale of its natural properties such as timber, water, or minerals.
Yes, you read that correctly. A car can actually be a great investment but only if you buy the right ones. Finish reading this section before you jump the gun and run to your local Toyota dealer to buy a brand new Camry. The cars you want to purchase, are collectors cars.
This will involve some researching and time spent at car shows and parts swap meets, but you can find some great rides that will also appreciate when you drive them off the lot. For a great resource on classic car buying, there is no greater resource than Hemmings Motor News.
Another eyebrow should be raised after reading that watches are a great investment. Just like the classic automobiles, you need to find the collectors. Collectible and limited edition watches can fetch you quite a pretty penny. For example, some classic Rolex watches can sell for the tune of $75,000. I’ll just let that soak in for a moment.
So, in summary, you need to diversify your investment portfolio, and I’m not talking about mixing up the industries that you trade stock in. If you have the time, money, and willpower, you can turn the five previously mentioned investments into huge returns.