After the financial fallout in 2008 where around $2.4 trillion was lost in pensions alone, it seemed for a while that these funds have recovered. The sad news is that many of them didn’t and those who were set to retire within a year or two faced a tough financial period. The result? Large portions of the global population, not just Americans, find it hard to invest, and that is due to the fear of the unknown. Thankfully, there are more ways to invest that may feel a little more tangible.
Investing in Property
Although property values took a substantial knock after the market crash, there is still merit in investing in property. It may not necessarily be for the means of selling it at a profit, but it could have some value to those who find themselves without a mortgage. Once the loan has been repaid, there could be sufficient equity to fund the next stage of life. The equity is the difference between the market value and the outstanding balance. Those who are retired may want to consider a reverse mortgage if their funds are drying up due to unforeseen medical bills or losses on the investment front. Rental income is another consideration in terms of wealth creation.
Opting for Commodities
Commodities, more precisely precious metals, can be a good way of securing a tangible asset that carries value. An easy way to do this is by buying rare issue coins such as the Gold Maple Leaf coin from Canada. These carry value and are beautiful to display as well. These coins are available from different countries as well and tend to be quite the collector’s items. The value of these coins should hold as long as the precious metal remains a valuable commodity.
It may seem an oddity to recommend a car as an investment option as cars tend to lose substantial value the minute they leave the showroom floor. Collector’s cars are different, as these cars are a rarity. Often no longer in production, those who manage to preserve a classic car and have all original parts in working condition have a good investment on their hands. The sweet spot for classic cars is those built between 1925 and 1948. Not only is this is a tangible asset, it also has the opportunity to be a useful source of income from rentals.
The best way to enter the world of investments is through a lot of research and the sound advice of a financial advisor. It also helps to understand risk, whether purchasing an asset or dabbling on the stock markets.