2020 taught us a lot of lessons.
Besides the importance of our health, we also learned some lessons about economics.
Almost all industries, communities, and families were affected by the global pandemic.
To save you some time and hopefully make you some money, in this contributed/collaborative post, here are three wise investments you may not have thought about.
Go Digital with Cryptocurrency
If you don’t know what cryptocurrency is, don’t worry. You’re not alone. However, it is worth learning about because it's a great investment opportunity.
Cryptocurrency is a digital currency that can be used similarly to the British Pound, Euro, or U.S. Dollars. However, it is decentralized, which means it has no ties to a certain government or bank.
You can buy cars, groceries, and more with cryptocurrency. The most popular is Bitcoin, which goes for roughly $10,000 a coin. However, there is more than just one cryptocurrency.
With Bitcoin at such a high price, it's not affordable to most. Another suggestion may be to buy Cardano coin as well as other coins that may be more accessible and still be able to round out your portfolio.
The future of the world is digital. Perhaps it is time to make your investments digital too.
Find the Gold
When most think of gold, you think of rings, necklaces, and perhaps a pirate’s booty.
However, it is an excellent investment.
For the more traditional investor that likes tangible buys, gold is a wise choice.
Its price is not fixed, but the price for gold has continued to climb.
You can invest in gold by buying ounces, grams, or kilos. Plus, you can sell your gold whenever you want.
The best recipe for success is to wait until you think the price has reached its highest to sell.
Gold is making a comeback. Make gold a part of your investment diversify strategy.
Embrace the Shared Economy
The last tip is more about using your possessions like your auto, home, or vacation home to your advantage.
You've already invested money in all of your possessions. However, you can’t use them all the time.
A great investment in your family’s future could be to make money from your auto, extra space, or vacation home when you aren’t using it.
You have probably heard of the global, shared economy giants like Airbnb or VRBO.
Other ways to utilize the shared economy is to list your car when you are not using it on the weekends. You can list your summer cottage on the weeks that you aren’t spending time there.
Think of this investment tip as money left on the table if you don’t do it. This year is the right time to embrace the shared economy and make some money from what you already own.
Let’s turn the corner on 2020 with springboarding to financial success in 2021 and beyond.
By following one, two, or all three of these wise investments, you'll reap the benefits. Here’s to safeguarding your financial future through diversified investments, that aren't just the standard 401(k) and stocks or bonds.