While I know what it feels like to be debt free and be described as a self-made man, there is no hiding from the fact that I will have had to have made good financial decisions and investments in the past and will also continue to do so in the future. But, how do you know what to do? I wanted to share with you some of the long term investments that will have you smiling with glee.
Think about property investments
Property can be one of the best and wisest decisions you make when it comes to your finances and thinking about long term investments. It Is certainly one of the most profitable for sure and actually there are few different ways that you can take advantage of it. First of all, you can thinking about getting on the ladder as soon as possible, once you start the property journey personally you have already made a good decision. However, you can then start thinking about investment options. You could look into the best real estate crowdfunding sites to get involved in local developments, Maybe you could purchase additional properties with a view to rent out, or maybe even renovate and sell on for a profit. You could even do this with your personal home, and then move up the ladder with the profits or reinvest them into additional properties in the future. The options are endless, but while it can be expensive, it will certainly give you a more sold return in the future. So much so that people use property as their retirement nest eggs.
Consider stocks and shares
Maybe you like the idea of investing in something, and while property may be lucrative, you may just not have the funds to put down deposits or even pay the additional mortgage payments. So stocks and shares could be a viable option. You could choose to study the market yourself, or perhaps look into trading platforms that can help you make the purchases and trades. You might want to check out this useful post from Suredividend.com. You may even want to consider a financial advisor who is skilled in this area. But, be aware stock and shares are never a guarantee when it comes to profits, and while it could make you a lot, you could also lose a fair bit in the process.
Good savings deals may mean a longer term investment
Finally, maybe you like the idea of doing things the old fashioned way and using banks to save your money. Sometimes the interest rates may not be that great,especially when it comes to accounts that give you access to your money. However, if you were to consider saving on a longer term, perhaps with no access to the savings unless you want to lose the lucrative rate, then this could really be a safe and viable option to make that money work a little harder. A lot of people consider this with lump sums they don’t intend to use in the near future.
I hope this has given you something to think about when it comes to the longer investments you could consider.